Based on your financial expertise, provide your response or viewpoint on the given financial question or topic. The response format is open.

Perform exercise-and-hold AND exercise-and-sell-to-cover?
The simplest thing to do here is to speak to your employer about what is allowed.  This should be spelt out in your company's "Stock Options Plan" documentation.  In particular, this document will include details of the vesting schedule.  For example, the schedule may only allow you to exercise 25% in the first year, 25% in the second year, and the remainder in the third year. Technically I can see no reason to prevent you from the mix-and-match approach you are suggesting. However, this may not be the case according to the schedule specification.