Ellis v. The Queen, 2007 DTC 996, 2007 TCC 289, aff'd 2008 DTC 6230, 2008 FCA 92 -- summary under Shares

Shares which the taxpayer acquired mostly pursuant to an incentive stock option plan and which he did not sell on exercise given that, as CEO, he did not wish to create a negative market impression, but which he instead pursued monetizing pursuant to a forward exchange contract without ultimately proceeding with such an arrangement, gave rise to a capital loss when he ultimately disposed of them.