According to IRS Publication 525 you must report it for AMT purposes once it becomes transferable by you without restriction. This means that if the restriction period ends in 2022, then you will report it in 2022 unless you sell the stock in 2022.
Example 7. Your employer, Elm Company, granted you an ISO on April 8, 2020, to buy 100 shares of Elm Company at $9 a share, its FMV at the time. You exercised the option on January 7, 2021, when the stock was selling on the open market for $14 a share. On January 27, 2021, when the stock was selling on the open market for $16 a share, your rights to the stock first became transferable. You include $700 ($1,600 value when your rights first became transferable minus $900 option price) as an adjustment on Form 6251, line 2i.
If you exercise an ISO during 2021, you should receive Form 3921, or a statement, from the corporation for each transfer made during 2021. The corporation must send or provide you with the form by January 31, 2022. Keep this information for your records. You will need this to know your cost basis.
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