Sample Phantom Stock Agreement With Company
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FAQ
Phantom stock plans are considered ?liability awards? for accounting purposes (assuming they will be settled in cash rather than stock). As such, the sponsoring company must recognize the plan expense ratably over the vesting period. Varying accrual schedules can be found in the market.
Phantom stock is a contract between an employer and an employee that grants the employee the right to receive a payment based on the value of the employer's stock. When granting phantom stock, the employer does not grant the employee any shares of the employer's stock.
Phantom stock plans are considered ?liability awards? for accounting purposes (assuming they will be settled in cash rather than stock). As such, the sponsoring company must recognize the plan expense ratably over the vesting period. Varying accrual schedules can be found in the market.
For example, suppose an employee received 10 phantom shares with a starting value of $7, and assume the shares are valued on the payment date at $15. At the date of payment the employee would receive $150 under a ?full value? plan and $80 under an ?appreciation only? plan.
In addition, for partnerships and LLCs that grant profits interests, such entities can also implement a phantom plan that incorporates both phantom stock and profits interests (see Drafting Note to Section 2.).