My current job gives out stock options, and I have roughly 10k options at $7. I'm considering leaving the company (for life reasons, nothing to do with the work) and I would like to turn those options into cash because they'll go away if I quit. The company isn't public, so I can't just exercise and sell, but the at the last "event" the stock price was $12. I think there is little risk that the company's stock will go down, so I would be OK with exercising and holding for a while until an opportunity to sell the stock comes along. At certain times in the past, select 3rd parties have been given the option to invest in the company, and bought stock, so that's what I'd be waiting for. The problem is, I don't have $70k (plus another $20k for taxes). My thinking is that I should somehow be able to borrow that money, using the exercised stock as collateral. Is that possible? Is there a different way to get something for my options before I quit? (I'm not planning to leave for another year at least.)
I very much value your input here.
Tim
I very much value your input here.
Tim