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ShareholdingExplained
Stage 4 · Leaving

Good leaver, bad leaver

What you keep, what lapses, what price you get back, and the 90-day EMI clock.

The key points

  • Unvested options usually lapse when you leave.
  • Good leavers often get market value for their shares; bad leavers may only get what they paid, or less.
  • EMI options generally keep their tax benefits only if exercised within 90 days of leaving.
  • Check what makes you a bad leaver. It can include breaking restrictive covenants after you've left.
The full guide for this stage is being written. In the meantime, the tool below covers the same ground for your own situation.
Check my terms →Use your own numbers and situation.Request an expert reviewA specialist looks at your documents. Fee agreed with you.

Education only. Real share structures vary: check your company's articles and your own agreements. Not tax, legal or investment advice.