Glossary · Employee equity
Post-termination exercise
After someone leaves, they usually have a limited window to exercise vested options (pay the strike and turn options into shares). If the window passes, unexercised options typically expire.
Related: Stock options · Vesting cliff · Secondary sale
A bit more nuance▾
- Windows vary — 90 days is a common US pattern but not universal.
- Cash to exercise can block alumni; some companies extend windows or offer cashless paths.
Go deeper▾
Discussion questions▾
- Could a great engineer afford to exercise if they left tomorrow?
- What policy would feel fair without blowing up the cap table?
Educational reference only — not legal, tax, or investment advice. Terms vary by country and deal; ask a qualified professional when it matters.