Plan your Anthropic ISO exercise
Calculator · free · no signup · pre-IPOAnthropic is pre-IPO. Plan your AMT impact at any valuation: current 409A, expected IPO price, or post-IPO scenarios.
Beta · invite-only · AlphaLatitude Inc. · Free Tools
Your grant
Seeded from secondary-market data, as of Jun 8, 2026
Tax inputs
Grant timeline
Net final value at year 3 sale — optimized plan
$1.89M
After-tax dollars at end of year 3, net of all federal + state taxes through the sale.
This year: exercise 203 shares (of 10,000 total).
= gross gain at sale − federal + state LTCG − AMT premium above baseline regular tax (time-valued)
AMT premium for exercising: $2,104,487 (on top of $228,434 regular tax across the horizon)
Optimized plan keeps $123,146 more than lump-sum, $115,445 more than even split.
Federal AMT crossover this year: 98 shares ($57,238 bargain element). Above that, each additional share this year adds federal AMT.
Estimates only. Not financial advice.
Net final value by year
Running tally: NTV from shares exercised through year y, minus AMT premium paid through year y. The last year matches the plan's headline NTV. Hover a year for plan totals.
Optimized exercise schedule
You pay the higher of Regular tax and Tentative AMT per jurisdiction, then subtract Credit recovered. The result is Net tax. Hover any number for the bracket-by-bracket breakdown.
| 1 | 203 | |||
| 2 | 198 | |||
| 3 | 9,599 |
Federal AMT credit
Earned
$1,693,724
Recovered
$0
Remaining
$1,693,724
The AMT credit only recovers in years where regular tax exceeds AMT — typically a year with no ISO exercise. Every year in this schedule has bargain element, so AMT exceeds regular tax in every year and the credit carries forward untouched. Try a longer horizon or fewer total shares to introduce a recovery year.
Plan comparison
Net value at the end of your hold horizon.
Lump-sum
All in Year 1
$1,765,732
−$123,146
Even split
Equal shares each year
$1,773,433
−$115,445
Optimized
Tax-aware schedule
$1,888,878
Highest
Estimates only. Excludes disqualifying dispositions, NSOs, multi-state moves, and AMT preferences other than ISO bargain elements. Long-term capital gains tax assumes a qualifying disposition (ISO held ≥1 yr from exercise and ≥2 yr from grant); state LTCG follows ordinary brackets except where the state grants preferential treatment (HI, ND, SC, WI, AR, NM) or has a dedicated LTCG-only tax (WA). Assumes you are within the $100K ISO limit (any portion of an annual ISO grant whose FMV at grant exceeds $100K is treated as NSO from the start, §422(d)). State AMT figures are 2025 (next-year values published in late 2026). Not financial advice.
QSBS note. If your shares qualify (typically pre-IPO C-corp grants held 5+ years), a federal rule lets you exclude up to $10M of gain on a future sale from federal tax. That single rule shifts exercise-timing math more than AMT does. (This is §1202 “qualified small-business stock”.) Modeled in beta, not here.
You optimized one grant in isolation. The beta optimizes ISOs alongside your RSUs, NSOs, and stock in one plan.
Request beta access →About Anthropic
Anthropic is a privately held AI company, incorporated in Delaware and headquartered in San Francisco, CA.
Last reported secondary-market price: $589.01 per share (as of 2026-06-08). Your own 409A may differ.
$380B Feb 2026; PBC.
Equity grants at Anthropic typically include incentive stock options (ISOs) and non-qualified stock options (NSOs).
Anthropic PBC is an American artificial intelligence (AI) company headquartered in San Francisco, California. It has developed a series of large language models (LLMs) named Claude and has a focus on AI safety. Anthropic was founded in 2021 by former members of OpenAI, including siblings Daniela Amodei and Dario Amodei, who are president and CEO, respectively. The company is privately held and as of May 2026 had an estimated valuation of $965 billion, making it the most valuable pure-play AI company in the world.
Source: Wikipedia (CC BY-SA 4.0)
Founded in 2021 by Dario Amodei (CEO), Daniela Amodei (President), and former OpenAI researchers including Tom Brown, Sam McCandlish, and Jared Kaplan, Anthropic operates as a San Francisco Public Benefit Corporation focused on AI safety. The Claude model family (Opus 4.7, Sonnet 4.6, Haiku 4.5) ships through the API, claude.ai, Claude Code CLI, the Agent SDK, and the MCP protocol. Backers include Amazon (roughly $8B committed) and Google. A February 2026 Series G raised $30B at a $380B valuation; annualized revenue hit $30B by March 2026, with secondary markets pricing the company near $900B-$1T.
Sources: cnbc.com · sacra.com · venturebeat.com
Equity comp at Anthropic
- Anthropic is a Public Benefit Corporation (PBC), a corporate structure that requires the board to balance making money for shareholders against pursuing the company's stated public benefit (here, AI safety research). For employees, this does not change federal tax on your equity. What it can change is timing: when the company decides whether to organize an employee share-sale event (an industry term: 'tender offer'), the board has to weigh financial returns against the benefit purpose, which can delay or shrink those events compared to a typical for-profit company.
Sources: anthropic.com · corp.delaware.gov
Researched 2026-05-06.
OptionsAhoy is an independent tool and is not affiliated with, endorsed by, or sponsored by Anthropic.
The calculator works at any Anthropic valuation: enter your strike, the current 409A FMV, an expected IPO price, or anywhere in between. AMT is triggered on the bargain element (FMV minus strike) when you exercise; the calculator models federal AMT, state AMT, and the multi-year credit-recovery path.
Example: at Anthropic's last reported price of $589.01, exercising 5,000 ISOs with a $176.7 strike creates a $2,061,550 bargain element. Above the 2026 federal AMT exemption ($88,100 single, $137,000 married joint), the 28% AMT rate adds roughly $577,234 on top of regular tax before any state AMT (CA, CO, CT, MN). The credit recovers in later years when your regular tax exceeds AMT. The calculator above runs your exact figures.
All Anthropic tools → · Use the generic AMT + ISO Exercise Calculator for any company.
Anthropic equity questions
- How much alternative minimum tax (AMT) will I owe exercising Anthropic ISOs?
- Exercising incentive stock options (ISOs) does not create regular income tax, but the bargain element (the fair market value at exercise minus your strike price) counts toward the alternative minimum tax (AMT). The amount depends on the bargain element, your other income, your filing status, and your state. The calculator above models federal and state AMT, the AMT crossover point, and how the credit recovers in later years for your exact Anthropic figures.
- Does Anthropic grant ISOs, NSOs, or RSUs?
- Equity compensation at Anthropic typically takes the form of incentive stock options (ISOs) and non-qualified stock options (NSOs). Incentive stock options can trigger the alternative minimum tax (AMT) when you exercise.
- Are Anthropic shares eligible for QSBS?
- They might be. Qualified small business stock (QSBS) under Internal Revenue Code Section 1202 can exclude federal tax on much of the gain when shares were acquired at original issuance from a C-corporation while its gross assets were under $50 million, and held at least five years. Whether your Anthropic shares qualify turns on when you acquired them and the company's asset size at that time.
One piece of the puzzle.
OptionsAhoy plans your Anthropic equity alongside hedging, vesting, and de-concentration, across bullish, neutral, and bearish market scenarios. Free during beta.