Liquidity Hub
Anthropic IPO & Liquidity Planning
When an IPO hits—and in the months that follow—the decisions you make determine your tax bill, concentration risk, and long-term flexibility.
This hub is built for Anthropic employees who want to:
Make smart, irreversible decisions with clarity—not guesswork
Quantify and manage ISOs & AMT exposure
Turn concentrated equity into durable, diversified wealth
Meaningfully reduce their tax bill
Enter the first year post-IPO with a clear execution plan
The Anthropic Equity Decision System
8 modules. Each covers one critical decision.
- •Which four decisions are permanent, and which can wait
- •Why double-trigger RSUs create a 2026 tax bill at the IPO
- •The dates that matter, from IPO day to your first 10b5-1 window
- •Start with what this money needs to do for you
- •Size your Sell Now, Sell Over Time and Keep buckets
- •Stress-test your plan before anything is sellable
- •How double-trigger RSUs are taxed at the IPO
- •Why default withholding often comes up short
- •Where the cash for the bill can come from
- •How the 3-step lockup releases your shares
- •Which sales use limited windows vs. a 10b5-1 plan
- •What your household needs before each window
- •Whether exercising fits your plan and your cash
- •How RSU income changes the AMT math on ISOs
- •How AMT credits recover, and what can go wrong
- •Which IPO income is hardest to shelter, and why
- •How giving, losses and lot choices fit your plan
- •The difference between deferring and cutting tax
- •Split the work between windows and your plan
- •Turn your buckets into 10b5-1 plan instructions
- •Why price floors can backfire inside a plan
- •Write an investment thesis you can actually track
- •Set exit rules that work inside a 10b5-1 plan
- •Build the rest of your portfolio around ANT
Equity & Liquidity Event Expertise
We focus on the decisions that matter most at scale: equity compensation sequencing, tax-efficient exercise timing, concentration glidepath design, and first-year IPO execution.
IPO Readiness: What We Can Accomplish in 30–45 Days
Today
- Build a full equity exposure map — vested, unvested, implicit career risk
- Define what this liquidity is *for* and what success looks like 5–10 years out
- Identify irreversible decisions and quantify worst-case downside
Week 2
- Identify your biggest tax risks and constraints: AMT exposure, concentration, state taxes
- Run scenario models: exercise timing, AMT ranges, sell sequencing
- Integrate your IPO plan with your broader financial architecture (cash reserves, asset allocation, risk profile)
Week 4–6
- Finalize your sell framework for the first 12 months (amount, timing, triggers)
- Holistic tax strategy: AMT recoupment, tax lots, capital gains reduction/deferment
- Finalize an IPO-to-post-lockup action calendar (what happens, when, and what you’ll do)
Anthropic Planning Resources
Guides and deeper dives to support the decisions above.
Essential Reads
Most relevant articles:
Tax Strategy Collections
Tax strategy guides for Anthropic equity situations:
Deeper Dives
Scenario-based write-ups for Anthropic equity and liquidity planning.
— Next Step
Make the plan before the window opens.
Confidential, decision-sequenced planning for equity comp, taxes, concentration risk, and first-year liquidity execution.