Subject:   ISO unexercise question
Date:   Tue, 3 Apr 2001
From:   Srin

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?

Thank you.

Srin

Answer

Date:   Wed, 25 Jul 2001

Hello Srin,

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.

Good luck!

Mike Gray

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