[yardstick]

> So you get around the taxation

And pay a lot more tax in the process, than if you were able to exercise early. IRS always has to have its cake and eat it.

[dilyevsky]

Early exercise is rarely ever an option except for very early stage companies. Most are ISOs with 90d window (which if you’re lucky converts to NSOs with a longer window) which is worst of both world bc of AMT

[yardstick]

Yes, because of IRS taxation rules