unexercised adjective2 •Not having been exercisedShelby W. Bonnie, the former chief executive, agreed to reprice 700,000 unexercised shares, the company said yesterday in a statement. — 2007 •Not having been subjected to physical exercise.Says Colonel Thomas Murray, chief Army psychiatrist in South Viet Nam: “Some of our psychiatrists are the most improbable military guys: soft, flabby, unexercised.” — 1969