It usually works this way:
1. You are granted an option to buy the stock. The value of the option may (or may not) be treated as imputed income and taxed as wages.
2. You exercise the option and buy the stock at a discount. The discount is treated as imputed income and taxed as wages.
3. Your cost basis is the previously imputed income plus what you paid for the stock.
4. When you sell the stock, your capital gain is the difference between what you sell it for and your cost basis
What I'm hearing is you bought some stock, at a discount, and the value of the discount was included as additional wages. You paid foreign tax on that. You then excluded that amount from your US tax return under the foreign earned income exclusion. You already got your tax break. You don't get a foreign tax credit, in addition to income exclusion, at this time.
Later when you sell the stock, at a gain, and pay foreign tax; you can them take the foreign tax credit (line 48 of form 1040).
If that's not the situation; you need to better describe what’s going on
