Skip to content
Solved

ETASSUM35120 | Schedule 3 SAYE option schemes: Requirements relating to share options – The exercise price: Price to be stated

From HM Revenue & Customs · Employee Tax Advantaged Share Scheme User Manual

Paragraph 28(1) requires the exercise price to be stated “at the time when the option is granted”. The price should be stated in absolute monetary terms (i.e. x pence per share).

The monthly savings contribution can then be set so that:

  • the aggregate exercise price, which must equate to the repayment expected under the savings contract (paragraph 25), is known at the date of grant, and

  • the number of shares under the option can be fixed.

It is acceptable for an option exercise price to be stated in a currency other than sterling. Further information about the use of foreign currency shares in Schedule 3 SAYE option schemes is at ETASSUM34230.