Priya Raman — twenty-two years at one company, seventy-one percent of her net worth in its stock, and the quiet math she avoided: one earnings call could reprice her retirement.
The position was earned, not chosen — RSUs and options, vest after vest, until one ticker was most of the estate. Selling it all at once meant a seven-figure tax bill and a timing bet; holding meant the household rode one stock. The plan refused both: a floor under the position first, then a scheduled unwind — measured, tax-mapped, and written down before the first share moved.
We noticed a sharp rally pushed the single name back above the glidepath midway through the unwind.
The answer The next tranche moved up and the collar re-struck around the new price — the ceiling held, the reasoning filed.
Twenty-two years to build the position. Three, on a signed schedule, to make it a portfolio.
