California Code of Regulations
Title 10 - Investment
Chapter 5 - Insurance Commissioner
Subchapter 4 - Insurer Securities Permits
Article 8 - Stock Purchase and Stock Option Plans
Section 2608.04 - Overall Limitation on Options
Universal Citation: 10 CA Code of Regs 2608.04
Current through Register 2024 Notice Reg. No. 38, September 20, 2024
It is considered prima facie unfair, unjust and inequitable if the total number of shares subject at any one time to outstanding unexercised option rights of all types, including but not limited to promotional option, employee incentive options and life agents production options, exceeds or will exceed 20% of the number of the then issued and outstanding shares.
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