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Option exercise

An option exercise is an allotment of shares to someone who holds an option to buy them, normally at a small fixed price, rather than a financing round.

Last updated 29 Oct 2026

How Bradshaw uses the term

Bradshaw leaves option exercises out of rounds. An allotment at or below nominal value is left out, and so is a line priced far below the top price of its round. The rules are on the method page.

In the data

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