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California unemployment compensation during weeks I exercised NQ stock options from previous employer?

I was laid off of my job several months ago at a technology company and have been collecting California unemployment compensation since then. The Non-qualified Stock Options I received at my company expired 90 days after my layoff. I recently sold (aka cashless exercise) my remaining options right before the 90-day expiration window. I know that the spread between my options' grant price and the market price is treated as taxable income. But is it also treated as "work" from EDD's perspective for purposes of determining eligibility for unemployment benefits? In other words, can I still collect unemployment benefits for the week that I exercised my options?

Public Comments

1. I don't believe that it is considered work income. it would be good to check with the EDD folks.