Employees/Former Employees can exercise their options electronically via ACH on Pulley. Pulley works with any bank account supported by Plaid.

Former employees must be within their post-termination exercise time frames to have the exercise function available.

Note: This feature is available on Pulley's Growth plan. If you do not see the button for "Request to Exercise Option" on your account, send your company admin this article to help them enable this feature.

Watch this 2 minute video to learn how the process works:

Submit Exercise Request

1. Request to exercise options - Navigate to the option you wish to exercise. You will see button to submit an exercise request on the option profile page if it is available to exercise (i.e. early exercise or options have vested) and your company has connected its bank account to enable electronic exercises.

2. Submit a request to exercise - Complete the form to submit your exercise request. Option exercise grants may be subject to taxes at the time of exercise. Your taxes will depend on your income and state of residence. Pulley collects taxes on your behalf as part of the exercise. However, we are not responsible for verifying the correct amount of taxes is collected. Consult your tax accountant to learn more about taxes associated with ISO and NSO exercises.

3. Request submitted - Your company administrator will review the request. You will receive an email once the request is approved.

Submit Payment

Follow the steps below to submit payment once your exercise is approved.

1. Return to your exercise request - The status of your exercise request will update to "Approved" once the exercise is approve. Click on the exercise to submit payment.

2. Connect your bank account - Pulley uses Plaid to connect bank accounts. Click "Connect a Bank Account".

3. Submit payment - Verify the exercise amount. Sign your name to agree to the terms and confirm the payment. The payment cannot be cancelled once it is initiated.

4. Option exercised - Payments take five to ten business days for payments to arrive in the company's account via ACH. Once the payment arrives, your account administrator will mark the option as exercised. You will receive a notification when the option is marked as exercised.

Contact support@pulley.com if you have any questions.

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