Jurisdiction(s):
United Kingdom

Key definition

Directors definition

What does Directors mean? directors are the individuals who, acting as the company’s board, manage the company’s business and make decisions for it. They set strategy, authorise significant transactions and oversee compliance, often delegating day-to-day operations to executives but retaining ultimate responsibility. In England & Wales, Scotland and Northern Ireland, the Companies Act 2006 defines a director broadly to include anyone occupying the position (including de facto and shadow directors). Ireland’s Companies Act 2014 adopts a similar definition. Directors act collectively through board meetings or written resolutions and may bind the company within their actual or apparent authority. Key legal features include statutory and fiduciary...

Precedent covering letter for CSOP option grant, enclosing option certificate, plan rules and UK tax treatment schedule

Published by a LexisNexis Share Incentives expert

Precedents

[ insert date of letter ]

[ insert name of employee ]

[ insert address of employee ]

Dear [ insert name of employee ]

[ insert name of Company ] (the Company )

Option granted under the [ insert name of CSOP ] (the Plan )

I am pleased to advise that the Directors of the Company have authorised the grant of a company Share Option plan (CSOP) share option ( Option ) to you under the Plan. Enclosed is the option certificate confirming the grant of the Option, together with a copy of the Plan Rules, which explain how your Option is governed.

Summary of the terms of the Option

The Option allows you to acquire [ insert maximum number and type of Shares which can be exercised pursuant to the Option deed of grant ] shares in the Company ( Shares ) on [ insert date / event on which options normally become exercisable ] at a price of [ insert exercise price of shares ] per Share [ , subject to the achievement of [ insert details of performance condition ], as described in more detail in the option certificate ]...

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Web page updated on 22/05/2026

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