Jurisdiction(s):
United Kingdom

Related legal acts

Key definition

Plans definition

What does Plans mean? Describes the set of design and technical documents for a project. In practice, parties use Plans to mean the drawings and related information that describe the works and are relied upon for design, planning, procurement and construction. The term is not generally defined by statute or case law; its scope is fixed by the contract or licence. Plans means all plans, drawings, models, specifications, reports, design documents and any other materials provided by the Licensor for the purposes of the Project, in hard copy or electronic form, including (without limitation) CAD/BIM models, federated models, schedules, surveys, calculations, method statements, datasheets and...

UK long-term incentive plans: Income tax and NICs for RSUs, nil-cost options, forfeitable shares and SARs; restricted securities, s430/s431, PAYE, retention periods, employer NICs transfer and reporting

Published by a LexisNexis Share Incentives expert

Practice notes

Types of LTIP awards

Under a long-term incentive plan (LTIP), the forms of awards most frequently granted include the following awards:

conditional share awards (which are sometimes also known as restricted stock units (RSUs))
nil-cost options
forfeitable shares, which are sometimes described as restricted stock
share appreciation rights (SARs)

A standard LTIP now commonly contains both a vesting period, typically lasting three years, and an additional retention period of two years, and this Practice Note addresses the tax implications for LTIP awards that have holding periods in place. For more information on each type of award, see Practice Note: Structure of a long-term incentive plan—Types of awards...

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Jeremy Edwards

Baker McKenzie

Jeremy has 18 years' experience as an employee benefits lawyer and 2 years experience as a corporate lawyer. Jeremy advises on all aspects of employee share plans, executive compensation and the taxation of employees. Jeremy has substantial UK experience, including implementing plans for UK listed companies, advising on UK tax issues and dealing with share plans in the context of corporate transactions. Jeremy also has extensive experience in connection with the implementation of share plans globally and working with multinational clients....

Web page updated on 21/05/2026

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