Does this include taxes?

No. It shows the cash cost to exercise and the spread that tax is typically assessed on, but it does not model AMT, ordinary income, or your bracket. Exercising ISOs in particular can create an alternative-minimum-tax bill on paper gains from shares you cannot sell — talk to a tax professional before acting.

What per-share value should I use?

Whatever you can actually justify: your latest 409A, the price from the most recent funding round, or a secondary-market quote you trust. They routinely differ. The tool treats it as your assumption, not a fact.

What if my options are underwater?

If your estimate is below your strike price, the spread shows as zero rather than a negative number. An option that costs more to exercise than the shares are worth has no spread — holding it costs you nothing.

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What would it cost to exercise your options?

Exercising means writing a cheque: shares times strike price. Enter your own numbers to see the total, and add a per-share estimate to see the spread.

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Educational estimate, never advice

Your option grant

Options to exerciseThe number of vested options you would buy.Strike price (USD per share)From your grant or equity portal: what you pay per share to exercise.Current per-share value (USD, optional)Private shares have no public price. Use your own estimate — a 409A, the last round, or a secondary quote you trust — to see the spread.

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How this is calculated

The cost is the simple part: the number of options you exercise multiplied by your strike price. That is cash you pay the company to convert options into shares, and it does not change with the company's value.

The spread is the difference between what a share is worth and what you paid for it, times the number of shares. It is the number tax is usually assessed on, and it is why exercising can create a bill for shares you cannot sell. Because private shares have no public price, the estimate has to come from you — this tool never invents one.

All arithmetic runs in integer cents, so nothing drifts through rounding.

Questions people ask

Does this include taxes?: No. It shows the cash cost to exercise and the spread that tax is typically assessed on, but it does not model AMT, ordinary income, or your bracket. Exercising ISOs in particular can create an alternative-minimum-tax bill on paper gains from shares you cannot sell — talk to a tax professional before acting.
What per-share value should I use?: Whatever you can actually justify: your latest 409A, the price from the most recent funding round, or a secondary-market quote you trust. They routinely differ. The tool treats it as your assumption, not a fact.
What if my options are underwater?: If your estimate is below your strike price, the spread shows as zero rather than a negative number. An option that costs more to exercise than the shares are worth has no spread — holding it costs you nothing.

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Behind this calculation: The exercise window after you leave.

Other free calculators: Private vs public offer, Vesting schedule, Post-termination deadline.

Looking for a specific employer? The company directory has estimated share prices for around 2,000 private companies.