Stock-based compensation expense is a real expense for shareholders (Episode 003)

In this episode, I discuss the effect of stock options or stock-based compensation expense on the after-tax returns of shareholders. These expenses paid to executives as compensation are often excluded from expenses when non-GAAP earnings are reported. The show notes for this episode, including a transcript of today's podcast, my sources, and more can be found at https://www.diyinvesting.org/episode3