Bolt isn't public so there is no sale option.
You have to pay to exercise, pay taxes, and pray for a sale option some future date.
You have to pay to exercise, pay taxes, and pray for a sale option some future date.
Private shares are actively traded. Bolt chose to restrict its employees from being able to sell.
Assuming you're an employee with a relatively small number of shares (in terms of company control) - what's the point of shares if you can't sell them? Just _in case_ you can sell them later? Some type of dividend/profit sharing (which seems unlikely for a startup)?
This is why it is incredibly stupid that the IRS makes you pay taxes when you get them.