To exercise a stock option, click on the Portfolio tab, next click on Stock Options and Awards tab. Click the Exercise link on the far right in blue writing. You will be prompted through the simple, step-by-step online exercise process.
NOTE: Prior to beginning an exercise, ensure you have your transaction password (your login password). You will need it to complete all online exercises settled in cash. If you do not have your transaction password, contact the Participant Experience Group during customer support business hours to obtain a temporary password. Customer support hours are Monday through Friday from 6 a.m. to 6 p.m. Mountain Time. Please note that for security purposes, this password cannot be provided to you via email.
Exercise Parameters
Select the type of exercise and the number of shares you wish to exercise.
You may be able to enter an exercise for multiple grants in one transaction (if your plan permits it). To exercise from multiple grants (where applicable), click on the Multiple Grants link in the Exercise Parameters section and specify the number of shares to be exercised from each grant.
Order Details (if applicable)
For exercise methods where you do not receive shares, you will be asked to confirm if you would like to place a market or a limit order (if the plan rules allow it). A market order will fill at the current market price during the present market day. A limit order enables you to set a sale price and choose how long to leave that price in effect (up to 30 calendar days).
For sell-to-cover exercises, you may elect to increase the number of shares sold so that your exercise results in the receipt of additional cash proceeds and fewer shares (plan rules permitting). The minimum number of shares to be sold is populated when processing this type of exercise to ensure that sufficient proceeds are generated to cover the cost of the exercise, as well as all taxes and fees where applicable.
Delivery Instructions
Select the delivery method and location for your proceeds and/or shares.
If you edit the delivery instructions during the exercise process, a new checkbox will appear. You may choose whether to have the new delivery location attached to your account for future transactions, or be effective for one time use only.
You may also be able to select the currency in which to receive the proceeds.
Exercise Direction Form (if applicable)
This letter summarizes your exercise request and is used to communicate your choices to your company and the Shareworks brokerage partner.
You may elect to Print your Exercise Direction Form for future reference or access past forms by navigating to your Activity tab and clicking the Pending or Past Event tab.
Verify
Your exercise is summarized including the details of delivery and proceeds.
You will be asked to enter a transaction password (log in password), if your exercise includes a market transaction (market order or limit order). If you do not have your password, you will need to contact the Participant Experience Group during customer support business hours in order to obtain a temporary password. Customer support hours are Monday through Friday from 6 a.m. to 6 p.m. Mountain Time.
Once you click Submit Exercise, you have concluded the required steps. You will receive confirmation of the transaction and an exercise reference number on the screen. The exercise will appear in the Activity tab and under the Pending or Past Event tabs
