[websterisk]

Depending on how large the company is, how it is structured, and how long they have been around, it might be the first time they've had to facilitate this exact transaction. It is possible that they are dealing with their lawyers to guide them on how to proceed. My mind wouldn't go straight to foul play.

My advice here would be to collect all of the documentation you can and make the clearest, most complete communication of your intention that you can through a channel that can be stored for later (email or registered mail including a dated letter with an indication that there is a copy).

Give the benefit of the doubt: "I realize that you are busy and may be trying to figure out how to proceed."

But super clear about concern, intention, and desired outcome: "I would like to exercise my option holdings at this time. I want to make sure that we are able to conduct this transaction in advance of the XYZ timeline detailed in the option plan. If, for whatever reason, it is easier for me to make this request of some other individual, group, or firm, please do let me know.

If you know the corporate law firm that represents the company, you can also reach out to them directly or indicate to management that you are going to reach out to them (not in a threatening way, but in a I'm-looking-for-a-response-and-am-not-going-away way). The law firm may actually be the option plan administrator, and they are duty-bound to administer it per contract.

Good luck!