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The Datalign Financial Guide

2026 Edition

What comes next
is personal.

What comes next
is personal.

What comes next
is personal.

A guide to the financial decisions around Anthropic’s IPO — and to finding an advisor who has actually handled them before.

A guide to the financial decisions around Anthropic’s IPO — and to finding an advisor who has actually handled them before.

A guide to the financial decisions around Anthropic’s IPO — and to finding an advisor who has actually handled them before.

Find an advisor for your equity

Find an advisor for your equity

Find an advisor for your equity

Or read the guide first

Anthropic’s IPO

4 parts · 1 equity event

Current as of Oct 21, 2026

Cambridge, MA

RSU

ISO · §422

AMT ↑

T + 180 days

10b5-1

Form 8949

Specimen · RSU

No. 0299

1,000 shares

Grant → Vest → Pays out → Sell

Specimen · RSU

No. 0299

1,000 shares

Grant → Vest → Pays out → Sell

Specimen · ISO

No. 0109

10,000 options

Strike $5.00 · Exercise → AMT?

Specimen · ISO

No. 0109

10,000 options

Strike $5.00 · Exercise → AMT?

An Anthropic IPO will attract attention. So will your equity. Many advisors will want your business — some with years of tech-equity experience, others still learning the decisions you face.



Equity has its own logic: vesting dates, AMT, lockups, withholding gaps. This guide maps the questions ahead — and a practical way to judge the advisors who want to help.

An Anthropic IPO will attract attention. So will your equity. Many advisors will want your business — some with years of tech-equity experience, others still learning the decisions you face.



Equity has its own logic: vesting dates, AMT, lockups, withholding gaps. This guide maps the questions ahead — and a practical way to judge the advisors who want to help.

An Anthropic IPO will attract attention. So will your equity. Many advisors will want your business — some with years of tech-equity experience, others still learning the decisions you face.



Equity has its own logic: vesting dates, AMT, lockups, withholding gaps. This guide maps the questions ahead — and a practical way to judge the advisors who want to help.

Created by The Datalign Content Team · Reviewed by Samuel Carter, Chief Compliance Officer

Examples are illustrative, not recommendations. Datalign is registered with the U.S. SEC — see disclosures below.

Part 1 → 4

vest ≠ sell

Specimen · NSO

No. 0821

2,500 options

Spread taxed as wages at exercise

Part 1 · Choosing financial advice

What do I want my Anthropic equity to make possible?

What do I want my Anthropic equity to make possible?

What do I want my Anthropic equity to make possible?

Up to 3%

Up to 3%

Up to 3%

Vanguard estimates financial advice can add up to 3% in net returns annually — through portfolio construction, tax-aware strategies and behavioral coaching.

Vanguard estimates financial advice can add up to 3% in net returns annually — through portfolio construction, tax-aware strategies and behavioral coaching.

Vanguard estimates financial advice can add up to 3% in net returns annually — through portfolio construction, tax-aware strategies and behavioral coaching.

Vanguard describes that value as irregular rather than annual, and says it varies by client. For an equity event, the relevant help may include concentration risk, tax coordination and a plan built around your goals.

Source: Vanguard, “Celebrating Vanguard Advisor’s Alpha,” 2025. Vanguard is not affiliated with Datalign. Exhibit 1 assumes hypothetical 6% and 9% annual returns compounded over 25 years; it does not represent any advised portfolio, matched advisor or client, and is not a guarantee of future results.

Exhibit 1 · Try a starting value

Starting value

$1M

$2M

$5M

6% assumed annual return · 25 yrs

$4.3M

9% assumed annual return · 25 yrs

$8.6M

2×

A three-point annual difference nearly doubles the ending value over 25 years under these assumptions.

Your employer is only one data point

Knowing you work at Anthropic tells a financial advisor where you receive your paycheck. It doesn’t explain what you want to do with your money. Consider three fictional employees who each expect $1 million in RSUs but have very different financial priorities.

One equity decision can affect several others

Consider an Anthropic employee deciding whether to exercise stock options before the IPO. Depending on the type of option, exercising may have tax consequences before any shares can be sold. Exercising generally requires paying the exercise price and can increase your financial exposure to Anthropic.

Seven questions to ask before hiring an advisor

Credentials can tell you about an advisor’s qualifications. A conversation can reveal how they approach financial decisions, whether they’ve handled circumstances like yours, and what they would want to know before developing a plan. Ask these seven questions of anyone you consider, including an advisor Datalign introduces. 01. How many clients have you helped plan around an IPO or a large equity payout? 02. How would you evaluate my RSUs, options and tax exposure before recommending a plan? 03. How do you coordinate with a CPA on equity compensation and tax planning? 04. How would you help me decide what to sell, what to keep and when? 05. How do your fees work, and what would I pay at my expected asset level? 06. How would you build my family and career goals into my plan? 07. What would you want us to accomplish in the first 90 days? When you’re ready, Datalign can introduce you to an advisor whose experience is relevant to your equity and financial goals.

How Datalign helps

We ask about your circumstances and goals, then introduce you to one participating firm with relevant experience. The introduction is free. You decide whether to continue.

We ask about your circumstances and goals, then introduce you to one participating firm with relevant experience. The introduction is free. You decide whether to continue.

We ask about your circumstances and goals, then introduce you to one participating firm with relevant experience. The introduction is free. You decide whether to continue.

13,000+

13,000+

13,000+

advisors in our nationwide network

86%

86%

86%

of RIA firms on our platform are on Barron’s 2025 Top 100 RIA Firms list

100,000+

100,000+

100,000+

people matched with an advisor, in all 50 states

01

Tell us about your circumstances

Answer a few questions about your equity, finances and what you want in an advisor.

02

We identify an advisor with relevant experience

Your answers point us to one participating firm whose experience fits.

03

Decide whether to meet

Schedule a no obligations free introductory conversation, then decide whether to work together.

Platform of the Year

2026 FinTech Breakthrough Awards

Industry Awards Finalist

2026 WealthManagement.com

Find an advisor for your equity

Find an advisor for your equity

Find an advisor for your equity

Part 2 · Before the IPO

What should I decide before Anthropic goes public?

What should I decide before Anthropic goes public?

What should I decide before Anthropic goes public?

Option-exercise deadlines, taxes and sale restrictions may need attention before the IPO. Tap the questions you can already answer — whatever’s left is your agenda for an advisor or tax professional.

01

What types of equity do I hold, and when do they vest or become exercisable?

02

When could I first sell shares, and what restrictions apply?

03

What could my RSU payout mean for my tax bill?

04

How much of my total wealth will depend on Anthropic?

05

What do I want this equity to make possible?

Find an advisor for your equity

Find an advisor for your equity

Find an advisor for your equity

Exhibit 3 · When each type of equity is taxed

RSUs and options are taxed at different times.

RSUs and options are taxed at different times.

RSUs and options are taxed at different times.

RSUs generally become taxable when shares are delivered. Exercising certain options can create a tax bill before you’ve sold a single share.

Equity

Taxed at

RSUs

Pays out (as wages)

ISOs

Sale · AMT may apply at exercise

NSOs

Exercise (as wages)

1. IRS Publication 525. 2. IRS Topic 427, Stock Options; IRS Form 6251 instructions.

RSUs

ISOs

NSOs

Restricted stock units

Taxed when shares pay out

Grant

Vest

Pays out

Sell

The shares’ value on the payout date is taxed as wages. Double-trigger RSUs pay out only after vesting and a liquidity event — such as an IPO.

Source: IRS Publication 525

RSUs

ISOs

NSOs

Restricted stock units

Taxed when shares pay out

Grant

Vest

Pays out

Sell

The shares’ value on the payout date is taxed as wages. Double-trigger RSUs pay out only after vesting and a liquidity event — such as an IPO.

Source: IRS Publication 525

Part 2 · Before the IPO

You could owe taxes before you can sell a share.

You could owe taxes before you can sell a share.

You could owe taxes before you can sell a share.

Illustrative ISO exercise

$450,000

$450,000

$450,000

potential AMT adjustment — with no shares sold and no cash received.

potential AMT adjustment — with no shares sold and no cash received.

potential AMT adjustment — with no shares sold and no cash received.

An employee holds 10,000 ISOs at a $5 strike. She exercises when shares are worth $50, paying $50,000 for stock valued at $500,000. The $450,000 spread may enter her alternative minimum tax calculation for that year.

01

Exercising before the IPO

You pay the strike price per share. For ISOs, the spread generally counts toward AMT if you still hold the shares at year-end. Your grant agreement says when options expire and whether you can exercise early.

02

ISO holding periods

Sell at least two years after grant and one year after exercise for long-term capital gains rates. Sell sooner and part of the gain is taxed as ordinary income.

03

If you leave Anthropic

Your plan sets a deadline to exercise vested options. Exercise ISOs more than three months after you leave and the IRS taxes them as NSOs.

04

Timing across grants

Exercising NSOs in the same year as a large RSU payout can produce a different tax result than another year — worth modeling with an advisor and tax professional.

1. IRS Topic 427, Stock Options; IRS Form 6251 instructions. 2. IRC §422(a)(1). 3. IRC §422(a)(2). Example is hypothetical.

Model your exercise with an advisor

Model your exercise with an advisor

Model your exercise with an advisor

Part 3 · During the IPO

When will I owe taxes — and when can I sell?

When will I owe taxes — and when can I sell?

When will I owe taxes — and when can I sell?

Once your RSUs pay out, you may owe more than Anthropic withheld. And if the price falls before your lockup ends, you still owe tax on the higher payout value.

Exhibit 4 · A California employee in the top brackets

Withheld vs. owed, federal + California income tax

Withheld vs. owed, federal + California income tax

≈$211K

≈$211K

≈$211K

potential gap on a $2M payout

$500K pays out

$161K withheld · $252K owed

$90K gap

$1M pays out

$322K withheld · $503K owed

$181K gap

$2M pays out

$795K withheld · $1.0M owed

$211K gap

Withheld

Additional tax you may owe

Illustrative only. IRS Publication 15 (federal supplemental withholding 22%, 37% above $1M); California EDD (supplemental withholding 10.23%); IRS and California FTB rate schedules (37% federal, 13.3% California incl. 1% Mental Health Services Tax above $1M). Assumes salary already places you in the top brackets. Excludes Social Security and Medicare.

Taxed as wages on payout day

$1,000,000

$1,000,000

$1,000,000

−40% in lockup

−40% in lockup

What the shares are worth when you can sell

$600,000

$600,000

$600,000

The IRS still taxes the full $1 million.

A later sale at the lower price may produce a capital loss. Losses can offset capital gains, but only up to $3,000 of ordinary income a year, with the rest carried forward.

What about estimated taxes?

Quarterly estimated payments may help you avoid underpayment penalties. Federal and California rules differ, and California applies stricter rules once income reaches $1 million.

1. IRS Publication 15; IRS Publication 505; California EDD; California FTB Publication 1004. 2. IRS Topic 409; IRC §1211(b). 3. IRS Publication 505. 4. California FTB, Estimated tax payments.

Find an advisor for your equity

Find an advisor for your equity

Find an advisor for your equity

Part 4 · After the IPO

Is too much of your wealth in Anthropic?

Is too much of your wealth in Anthropic?

Is too much of your wealth in Anthropic?

If Anthropic stock is a large share of your wealth, a price drop hits the shares you own and the value of future grants. One way to measure it: vested Anthropic shares ÷ total investable assets.

75%

75%

75%

Exhibit 6 · Illustrative

of this person’s investable assets depend on one company — and so does their salary.

of this person’s investable assets depend on one company — and so does their salary.

of this person’s investable assets depend on one company — and so does their salary.

$1.5M Anthropic shares

$500K other

$500K

There’s no universal concentration limit. As one reference point, T. Rowe Price suggests reviewing any single stock above 10% of a portfolio. An advisor can weigh the position against your other assets and what you need the money for.¹

Review your concentration with an advisor

Review your concentration with an advisor

Review your concentration with an advisor

When the lockup ends

Hold, sell, give or borrow.

Hold, sell, give or borrow.

Hold, sell, give or borrow.

Lockups commonly last 90 to 180 days. Each move changes your tax bill, your cash and your exposure to Anthropic differently — an advisor can compare them for you, usually alongside your tax professional.

Hold

Continued ownership and concentration risk. Long-term gains taxed at up to 20%, short-term at up to 37%; a 3.8% net investment income tax may apply above $200K ($250K couples).²,³

Sell over time

A 10b5-1 plan sets sale dates or prices in advance, so scheduled sales can continue when you couldn’t otherwise trade — adopted without material nonpublic information, with a cooling-off period.⁴

Give

Eligible gifts of appreciated shares held over a year may be deductible at fair market value, generally up to 30% of AGI for certain public charities.⁵

Borrow against shares

Raise cash without selling. If the price falls, the lender can demand more collateral or sell your shares.⁶

Part 4 · After the IPO

Don’t pay tax twice on your RSU shares.

Don’t pay tax twice on your RSU shares.

Don’t pay tax twice on your RSU shares.

Your broker’s 1099-B may show a $0 cost basis. Your real basis is the value already taxed as wages — report $0 and the same income is taxed again. A large payout may also raise questions about gifts and your estate documents.

Reporting the sale: Check the cost basis on your 1099-B

Your broker’s Form 1099-B may list a cost basis of $0 for shares from RSUs. Your actual basis is the value already taxed as wages. If you report $0, the IRS taxes that income a second time.¹

Reporting the sale: Correct it on Form 8949

Your broker may provide a supplemental statement with the adjusted cost basis. A tax professional can help determine whether Form 8949 requires an adjustment before the sale flows to Schedule D.¹

Gifts and your estate: Gifts to family

In 2026 you can give up to $19,000 to any one person without filing a gift tax return. Gifts above the annual exclusion generally require additional reporting and may reduce the amount available under the lifetime gift and estate tax exemption.²

Gifts and your estate: The estate and gift exemption

The federal exemption is $15 million per person in 2026. Shares you give away, along with their future growth, leave your taxable estate.³

Gifts and your estate: Reviewing your estate documents

A large payout may change what your will, beneficiary designations, trusts and durable power of attorney should say.

1. T. Rowe Price, “Helpful actions you can take to reduce concentration risk in your portfolio,” 2026; IRS Instructions for Form 8949; IRS Publication 525. 2. IRS Topic 409. 3. IRC §1411. 4. SEC Rule 10b5-1, as amended 2023. 5. IRC §170; IRS Publication 526. 6. FINRA, “Securities-Backed Lines of Credit.” Also: SEC, Investor.gov, “Lock-up agreements”; IRS gift tax FAQ; IRC §2010(c).

Plan your taxes and estate with an advisor

Plan your taxes and estate with an advisor

Plan your taxes and estate with an advisor

Looking ahead

Two employees with similar grants can owe different taxes, sell on different schedules — and want different things.

Two employees with similar grants can owe different taxes, sell on different schedules — and want different things.

Two employees with similar grants can owe different taxes, sell on different schedules — and want different things.

You don’t need a finished plan or a precise tax estimate to ask for help. Bring your grant details, your questions and a sense of what you hope to accomplish.

Find an advisor who starts with you

Find an advisor who starts with you

Find an advisor who starts with you

Perfectly Aligned Finance™ · Free to you · Under 3 minutes

Important disclosures

The information in this guide is for educational purposes only and is not intended as, nor should it be relied upon as, individualized financial, investment, tax, or legal advice, and you should consult a qualified professional about your specific circumstances before making any financial decisions.


Financial Matchmaker & Advertising Disclosure:


Datalign / Datalign Advisory is registered with the U.S. Securities and Exchange Commission as a registered Investment Advisor providing advertising-supported referral services, and is not a registered broker-dealer. Content, tools, and calculators are for educational and informational purposes only and do not constitute personalized financial, tax, or investment advice. Registration with the SEC does not imply a certain level of skill or training. We match you with participating independent financial advisors; we do not recommend specific investments or guarantee advisor performance. Advisors matched through Datalign are independent of Datalign, and Datalign does not supervise the advice they provide. Datalign receives economic compensation from participating advisors for these referrals, which may influence how and where options appear on our platform. Past performance is no guarantee of future results. Always consult a certified financial professional before making investment decisions.


Awards:


FinTech Breakthrough named Datalign Advisory “Financial Advisory Platform of the Year” in its 2026 FinTech Breakthrough Awards, announced March 19, 2026. An independent panel selected winners from nominations submitted by January 9, 2026, for products released or updated after January 1, 2023. FinTech Breakthrough states that companies do not pay to be considered or to be named winners. Informa’s Wealth Management Group named Datalign Advisory a finalist in the 2026 Wealth Management Industry Awards (the “Wealthies”), announced June 3, 2026, in two categories: AI: Marketing and Lead Generation (RelationshipAI) and Innovation Platforms (AI-Native Growth Platform). Independent judges selected finalists from initiatives introduced or enhanced in the prior 18 months. Informa states that no fee is required to enter. These awards recognize Datalign’s technology platform. They are not ratings of any advisor you are matched with and do not indicate future performance. Barron’s Top 100 RIA Firms (2025) is compiled by Barron’s based on data submitted by firms, including assets, revenue and quality of practice; the ranking is not an endorsement of any firm or of Datalign, and Datalign did not pay Barron’s to be included.


Datalign Advisory is not affiliated with, sponsored by, or endorsed by Anthropic. References to an Anthropic IPO are based on public reporting; Datalign has no nonpublic information about Anthropic’s plans, and the timing, terms and occurrence of any IPO are uncertain. Statements about Anthropic equity plans are general and may not reflect the terms of your grant agreement. Tax figures reflect federal and California law for 2026 and may change. Information is current as of October 21, 2026.

@ 2026 Datalign Advisory. All rights reserved.

Datalign Advisory, Inc. (“Datalign Advisory”) is a solicitor for the third-party advisors on our platform. These advisors pay Datalign Advisory a referral fee for prospective client introductions. This referral fee varies based on the information you supply in the Questionnaire and the desired client profile of the Matched Advisor. In return, we provide the Matched Advisor with the information you provide us through our Questionnaire, including phone number and e-mail address. This fee is paid solely by the Matched Advisor and is paid to Datalign Advisory regardless of whether or not you become a client of the Matched Advisor. There are no fees to you for the use of our platform. Datalign Advisory is not otherwise affiliated with the Matched Advisor and does not provide investment advice on its behalf. Participating Advisers pay us a fee for each Investor introduction. Participating Advisers may pay different levels of fees based on a combination of demand and profile of the Investors matched and introduced. This creates a conflict of interest because we could generate more revenue by introducing Investors to the Participating Adviser willing to spend the most, rather than the adviser that best suits an Investor’s needs. We mitigate this risk by only introducing Investors to Participating Advisers that are deemed suitable and match based on information Investors self-report through our platform. Where multiple Participating Advisers meet the requirements identified by an Investor and are deemed equally suitable, the introduction will be made to the Participating Adviser that is willing to pay us the highest referral fee, as determined through an auction.

Datalign Advisory, Inc. (“Datalign Advisory”) is registered with the U.S. Securities and Exchange Commission as a Registered Investment Advisor. Datalign Advisory provides referrals to third-party investment advisors based on consumers’ financial information, services required, and preferred relationship with an investment advisor, as reported through our Questionnaire. Datalign Advisory does not manage client assets nor provide investment recommendations. Datalign Advisory’s form ADV Part 2A is available here, and the Form CRS here.

@ 2026 Datalign Advisory. All rights reserved.

Datalign Advisory, Inc. (“Datalign Advisory”) is a solicitor for the third-party advisors on our platform. These advisors pay Datalign Advisory a referral fee for prospective client introductions. This referral fee varies based on the information you supply in the Questionnaire and the desired client profile of the Matched Advisor. In return, we provide the Matched Advisor with the information you provide us through our Questionnaire, including phone number and e-mail address. This fee is paid solely by the Matched Advisor and is paid to Datalign Advisory regardless of whether or not you become a client of the Matched Advisor. There are no fees to you for the use of our platform. Datalign Advisory is not otherwise affiliated with the Matched Advisor and does not provide investment advice on its behalf. Participating Advisers pay us a fee for each Investor introduction. Participating Advisers may pay different levels of fees based on a combination of demand and profile of the Investors matched and introduced. This creates a conflict of interest because we could generate more revenue by introducing Investors to the Participating Adviser willing to spend the most, rather than the adviser that best suits an Investor’s needs. We mitigate this risk by only introducing Investors to Participating Advisers that are deemed suitable and match based on information Investors self-report through our platform. Where multiple Participating Advisers meet the requirements identified by an Investor and are deemed equally suitable, the introduction will be made to the Participating Adviser that is willing to pay us the highest referral fee, as determined through an auction.

Datalign Advisory, Inc. (“Datalign Advisory”) is registered with the U.S. Securities and Exchange Commission as a Registered Investment Advisor. Datalign Advisory provides referrals to third-party investment advisors based on consumers’ financial information, services required, and preferred relationship with an investment advisor, as reported through our Questionnaire. Datalign Advisory does not manage client assets nor provide investment recommendations. Datalign Advisory’s form ADV Part 2A is available here, and the Form CRS here.

@ 2026 Datalign Advisory. All rights reserved.

Datalign Advisory, Inc. (“Datalign Advisory”) is a solicitor for the third-party advisors on our platform. These advisors pay Datalign Advisory a referral fee for prospective client introductions. This referral fee varies based on the information you supply in the Questionnaire and the desired client profile of the Matched Advisor. In return, we provide the Matched Advisor with the information you provide us through our Questionnaire, including phone number and e-mail address. This fee is paid solely by the Matched Advisor and is paid to Datalign Advisory regardless of whether or not you become a client of the Matched Advisor. There are no fees to you for the use of our platform. Datalign Advisory is not otherwise affiliated with the Matched Advisor and does not provide investment advice on its behalf. Participating Advisers pay us a fee for each Investor introduction. Participating Advisers may pay different levels of fees based on a combination of demand and profile of the Investors matched and introduced. This creates a conflict of interest because we could generate more revenue by introducing Investors to the Participating Adviser willing to spend the most, rather than the adviser that best suits an Investor’s needs. We mitigate this risk by only introducing Investors to Participating Advisers that are deemed suitable and match based on information Investors self-report through our platform. Where multiple Participating Advisers meet the requirements identified by an Investor and are deemed equally suitable, the introduction will be made to the Participating Adviser that is willing to pay us the highest referral fee, as determined through an auction.

Datalign Advisory, Inc. (“Datalign Advisory”) is registered with the U.S. Securities and Exchange Commission as a Registered Investment Advisor. Datalign Advisory provides referrals to third-party investment advisors based on consumers’ financial information, services required, and preferred relationship with an investment advisor, as reported through our Questionnaire. Datalign Advisory does not manage client assets nor provide investment recommendations. Datalign Advisory’s form ADV Part 2A is available here, and the Form CRS here.