Early exercise is a benefit provided by the company at the time of the option grant. Same company may choose to make the benefit available for some grants and n

Early exercise is a benefit provided by the company at the time of the option grant. Same company may choose to make the benefit available for some grants and not others (some reasons why they might not are listed here: http://www.startupcompanylawyer.com/2009/01/11/should-a-company-allow-early-exercise-of-stock-options/ http://www.startupcompanylawyer.com/2009/01/11/should-a-comp...).