Found this for other folks:
FTB Pub 1004 page 11 - https://www.ftb.ca.gov/forms/misc/1004.pdf
If you exercise an incentive stock option while a California resident or a nonresident
and dispose of the stock in a disqualifying disposition while a nonresident, the
transaction is treated as if you exercised a nonstatutory stock option. The difference
between the option price and the fair market value on the exercise date is wages.
(Sun Microsystems, Inc., 69 TCM 1884 (1995)) The income source is where you
performed services between the grant date and the exercise date.
No AMT adjustment is required if you dispose of the stock in the same year you
exercise the option. However, if the stock is disposed of in a later year, then an AMT
adjustment must be made in the year you exercised your incentive stock option.
The AMT adjustment source is determined in the same manner as income from the
exercise of a nonstatutory stock option for regular tax purposes.
Make sure you read example 7, since it covers sale price < exercise price. This impacts your capital gain and compensation.
