Can I unexercise options after filing an 83(b) election?
July 27, 2001
Subject: ISO unexercise question
Date: Tue, 3 Apr 2001
Dear Mr. Gray,
Thank you very much for your very informative website.
I have early exercised my unvested ISO’s and also filed form 83B.
Can I unexercise (withdraw exercise) some of those options? If so, is there a time period between exercise and unexercise, and do I need to file something with the IRS?
Date: Wed, 25 Jul 2001
I’m sorry, but the Section 83(b) election is irrevocable.
The election can only be revoked with the consent of the IRS, which isn’t likely.