Will a Small ISO Exercise Gain Trigger AMT?

[mortezadm]

Hello

I'm in a "use it or lose it" situation for exercising ISO options from my previous company. If I exercise these options with a $600 bargain element (due to FMV changes), will this small gain likely trigger AMT or significantly increase my taxes?

Alternatively, I'd like to understand: is AMT always calculated for everyone but often doesn’t apply because regular tax liability is higher?

Thank you, and let me know if I’m missing any key details!