phantom share scheme

phantom share scheme
This is not a share scheme at all but is a cash bonus scheme. Shares, however are notionally allocated to employees who, after set periods, e.g. three years, five years, etc. may be paid the difference between the share price at the date of allocation and the share price at the date of the payment, if the shares of the company have increased in price. As a pure incentive arrangement this is a "blunt instrument". However this allocation may be useful where a company has other share schemes but has, because of investor protocol guidelines, run out of shares to allocate.

Easyform Glossary of Law Terms. — UK law terms.

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