If the real FMV of the company is the same as the exercise price - you paid that exercise price, right? - then you have no compensation, no revenue to report. You simply bought a stock.
Of course if the IRS ever asks you've got to be able to back up that position and I don't know that "the company stated" you paid the FMV of the stock would stand up without some appraisal or other attempt to support that notion.
Tom Young
