Texas Stock Option and Long Term Incentive Plan of Golf Technology Holding, Inc.
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FAQ
ESOPs are qualified retirement plans and they are designed to accumulate funds for retirement. While LTIPS and ESPPs could be used to accumulate savings for retirement, they are frequently used to accumulate savings for other financial goals, such as college tuition or a vacation home.
In a standard LTIP, the employee, who is normally a senior executive, is required to meet a number of criteria to receive the incentive. This incentive is paid out on top of the executive's base salary and can often come in the form of a cash incentive.
Through LTIPs, a new long-term incentive can be granted to an employee every year, rather than a one-time incentive, similar to a holiday bonus.
For shareholders, LTI are a vehicle that aligns employees with the performance of shares (for market-based equity vehicles) and the long-term vision of the company.
The basic idea behind a LTIP is that participants receive share options or shares if they satisfy certain performance criteria over time. Sometimes, the LTIP participants have to invest a proportion of salary or cash bonus towards the acquisition of shares.
As mentioned above, vesting is the waiting period before receiving 100% of the LTI ownership. For example, if your vesting period is three years, the incentives will be fully available to you (i.e. you can sell and/or exercise them) once the 3-year period has passed.
Such structures are also often called 'performance shares' or, in the US, 'restricted stock units'. LTIP is, however, just a name that can be given to any form of long term incentive that a company awards to its employees. An LTIP may reward and employee with shares, cash or other commodities such as cryptocurrency.
An incentive stock option (ISO) is a corporate benefit that gives an employee the right to buy shares of company stock at a discounted price with the added benefit of possible tax breaks on the profit.
