“…The agent's partial hedging/control problem is considered in tandem with American option exercise, resulting in mixed control/stopping. Applications to executive stock options include Detemple & Sundaresan (1999), Oberman & Zariphopolou (2003), Leung and Sircar (2009), Henderson (2007), Grasselli andHenderson (2009), Carpenter, Stanton &Wallace (2010), Henderson, Sun & Whalley (2014), and Leung & Wan (2015). Optimal stopping problems are solved via a free boundary problem and the associated Hamilton-Jacobi-Bellman equation.…”