I'm leaving my startup — what happens to my options?

Leaving starts a clock. Your vested options usually must be exercised within a short window or they vanish — forcing a fast, expensive decision. Here's what to know before you resign.

What happens to vested vs unvested

Unvested options are almost always forfeited the day you leave — you keep only what has vested.
Vested options enter your post-termination exercise window — classically 90 days. Exercise within it (paying the strike and any tax) or lose them.
Some companies offer extended windows (years). Check your option agreement.

The hard decision the window forces

Within the window you must choose: pay to exercise — often a large cash sum plus possible AMT — turning options into illiquid shares you may not be able to sell; or walk away and forfeit them. There's rarely time or liquidity to do this comfortably, which is why it catches people out.

Before you resign: find out your exact window length, your cost to exercise, and whether any secondary or tender could provide cash. Timing your departure can matter.

How to approach it

Confirm your numbers. Vested amount, strike, and full cost to exercise — run the calculator.
Check for liquidity. Is a tender or secondary possible to fund the exercise or diversify?
Consider ISO timing. Leaving affects ISO status — options may convert to NSOs after the window. See exercise windows.
Don't ignore it. Forfeiting valuable vested options by missing the deadline is a common, avoidable loss.

Frequently asked questions

How long do I have to exercise options after leaving?

Classically 90 days from your last day, but it varies — some companies offer extended windows of several years. Check your option agreement and equity plan for your exact post-termination exercise period, because missing it means forfeiting the options.

Do I lose my unvested options when I leave?

Almost always, yes. Unvested options are typically forfeited on your departure date. You keep only the options that have already vested, and those are subject to your exercise window.

What if I can't afford to exercise before the window closes?

You may have to forfeit them, unless you can access liquidity — for example through a secondary sale or exercise financing. This is why it's worth checking your options and costs before you resign, not after.

Get the numbers before you decide

Free, no sign-up: estimate what your stake is worth, the cost to exercise, and whether you can sell.

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When you're ready to go deeper, there's an optional Equity Toolkit and Report.