How is compensation from the exercise of nonstatutory stock options reported on form W-2 if compensation is not recognized on the date of the grant? The answer is the spread between one of the following.

FMV of the stock over the exercise price at time of exercise is shown as a V in box 12.

Grant price of the stock over the FMV at the time of vesting is shown as a V in box 12.

Grant price of the stock over the exercise price at the time of vesting is shown as a V in box 12.

Grant price of the stock over the exercise price at the time of exercise is shown as a V in box 12.