Not quite true - ISOs can incur AMT at time of exercise, which is kind of complicated and doesn't always create a tax burden. In the $100k range, it probably wi

Not quite true - ISOs can incur AMT at time of exercise, which is kind of complicated and doesn't always create a tax burden. In the $100k range, it probably will, but they'd have to do the calculation to find out. https://www.esofund.com/blog/amt-tax https://www.esofund.com/blog/amt-tax Regardless, they'll still have to front the $ to exercise and be left with illiquid stock. It's not a good situation.