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LTIPs After the

Jeremy Edwards Senior Associate and Paul McCarthy Partner of Allen & Overy's Global Benefits Group consider the practical implications of the FA 2003 on long-term incentive plans (LTIPs)
The Finance Act 2003 could prove to be a major catalyst for a change in the way companies operate their share incentive plans. Traditional share option plans continue to dominate companies' executive incentive programmes but this could now change. The reasons (other than tax ones) for a movement towards LTIPs from option plans include:
●     impending changes in the accounting treatment of share options which will require options to be expensed in the profit and loss account for the first time; and
●     increasing dissatisfaction among both investors and employees regarding...

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