If this is an Incentive Stock Option (ISO) nothing is reported when the option is Granted and/or the option is Executed.
HOWEVER, for the year they are exercised, the spread may be needed to account for Alternative Minimum Tax.
You might receive Form 3921 reporting the details for future use, when you sell the stock.
When sold, the same long-term short-term apply for Capital Gains.
The basis will be the price you paid or the price plus AMT adjustment if that needed to be made.
If this was something else, such as a Non-Qualifying Stock Option, please continue the question as income might then need reporting.
Qualifying, or Statutory Stock Options adhere to Sec 422 including the stock being held at least 2 years from Grant Date and at least 1 year from Exercise Date.