Look at the w2. There is no X under stat emp because he is not one. Three are no deductions for his expenses. Nada.

code v is for options that have been grossed up into his earnings as ordinary income. Hopefully the employer took sufficient withholdings in the transaction (but they rarely do).

there should be a 1099b associated with the stock options that will be have to be reported on sch D but you’ll have to make a basis adjustment. Most of these result in a very small capital gain or loss, if any because the income is being reported on the W2.