Exercising options 101

What it means to exercise

Exercising stock options means the holder chooses to buy shares at the option’s exercise (strike) price, according to the terms of the stock option plan and option agreement.

When options can be exercised

Only vested options are eligible. Unvested options are not yet earned and cannot be exercised.

How to exercise options in Mantle

If you are an employee, advisor, or other option holder, this is the kind of flow you’ll see in Mantle:

1. Log in to your Mantle account

   • Use your email and magic link to log in, as with any other Mantle access.

2. View your option grants

   • From your Holdings dashboard, select the option grant you want to exercise. You will see:

     • Total options granted

     • Vesting schedule

     • Exercise price

     • Grant date

3. Start an exercise request

   • Click Actions → Exercise.

   • Mantle will show you:

     • How many options are currently exercisable (vested and not yet exercised).

     • Estimated cost (number of options x exercise price)

4. Choose how many options to exercise

   • Enter the number of vested options you want to exercise (up to the exercisable minimum).

   • Mantle will recalculate the total exercise cost.

5. Confirm address

   • Confirm your personal details and click Next.

6. Download, sign, and attach the exercise notice form

   • Download and sign the exercise notice form.

   • Attach the signed notice form to Mantle.

7. Review and submit

   • Review the exercise summary and click Submit.

   • You'll see a pending status while the company admin reviews and processes it.

8. Payment

   • Once approved, you will find the final details of the total payment due and payment instructions.

   • Complete the payment based on the payment instructions provided to you.

   • Once paid, go back into Mantle and click I have paid.