ETASSUM43330 | Schedule 4 Company Share Option Plan (CSOP): Shares to be used: As a director or employee

Paragraph 20 was repealed on 6 April 2023: Unexercised options granted prior to 6 April 2023 will benefit from the changes to the share class requirement.

Options granted and exercised prior to 6 April 2023
Paragraph 20(3)(a) refers to shares as being open market shares if the people holding the shares are not persons who acquired their shares “in pursuance of a right conferred on them or an opportunity afforded to them as a director or employee of the scheme organiser or any other company, and not as a result of an offer to the public”. There will only be very limited circumstances where shares acquired by a director or employee were acquired in another capacity.