Georgia Proposal to approve restricted stock plan
Description
How to fill out Proposal To Approve Restricted Stock Plan?
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FAQ
A stock option plan must be adopted by the company's directors and, in some cases, approved by the company's shareholders.
Failure to get board approval Let's start with an obvious one that founders routinely miss in the early days: Stock option grants must be approved by the board. If the board doesn't approve (either at a board meeting or by unanimous written consent), the stock options haven't actually been granted.
The US federal tax laws do not generally address the level of approval required for equity awards, but the tax rules that govern the qualification of so-called incentive stock options require that the options be granted under a shareholder-approved plan.
Corporate actions include stock splits, dividends, mergers and acquisitions, rights issues and spin-offs. All of these are major decisions that typically need to be approved by the company's board of directors and authorized by its shareholders.
A restricted stock unit (RSU) is a form of equity compensation that companies issue to employees. An RSU is a promise from your employer to give you shares of the company's stock (or the cash equivalent) on a future date?as soon as you meet certain conditions.
Once you have a plan in place, you can simply make amendments to increase the number of shares in the option pool on an as-needed basis. The initial plan and any expansions must be approved by your board of directors and then by shareholders.