I think the parent is saying “post-vest gains don’t count as salary” (and per the IRS, they don’t), and you’re saying (if I read you right) that market value at vest counts as salary (which the IRS also agrees with), but that the market conditions introduce an element of risk in your salary.

So, you’re both right? ;)

I didn’t read the blog post closely enough to figure out if he was talking about pre-vest gains or post-vest gains, but certainly caveats apply.

On the other hand, similar caveats apply to, say, hedge fund traders whose comp is subject to market conditions.