Jurisdiction(s):
United Kingdom

Related legal acts

Key definition

Employee definition

What does Employee mean? Describes an individual engaged under a contract of employment (a contract of service) who enjoys the fullest employment law protections, such as unfair dismissal, redundancy pay, statutory notice and much family leave. In practice, employee status is determined by legislation read with case law on the reality of the relationship, typically examining personal service (no unfettered substitution right), employer control, and mutuality of obligation, alongside integration and other indicia. In England & Wales and Scotland, the Employment Rights Act 1996 defines an employee as an individual who has entered into or works under (or, where employment has ceased,...

Employee share schemes on UK corporate transactions: takeovers, IPOs, reorganisations, business sales and demergers

Published by a LexisNexis Share Incentives expert

Practice notes

Understanding the impact of a corporate transaction on the company's share incentives

Where a company undergoes a corporate transaction, existing share incentive awards over its shares are frequently affected. Identifying the likely effect at the earliest planning stage is essential, as share incentive considerations can prove decisive for the proposed structure, mechanics and/or timetable, and may otherwise force later changes to the transaction solely to accommodate them.

This is particularly relevant where:

a substantial proportion of the share capital is covered by share awards
key individuals, or a significant part of the workforce, hold such awards
there is an employee benefit trust (EBT)

This Practice Note outlines the steps typically required on any transaction when addressing its share incentives elements (see: Steps which will normally need to be taken below)...

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Web page updated on 22/05/2026

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