No, you're not missing anything. In prior years, the program made RSUs unnecessarily complicated. They are pretty straight forward. Once RSUs vest, the value on the date of vesting becomes earned income, just as if a cash payment was made. That amount is reported in box 1 of the employee's W-2. In some cases, the RSU vesting is an all cash transaction. In others, shares are issued which result in the sale of shares to cover tax withholding. The remaining shares may or may not be sold at that time. The sale of shares from RSUs is reported as an investment sale (just like other stock sales) on Form 8849 and Schedule D. The cost basis per share is the value per share at the time of vesting.
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