Cal. Code Regs. tit. 10 § 260.105.5
There is hereby exempted from the provisions of Section 25110 of the Code, as not being comprehended within the provisions of the Corporate Securities Law of 1968 and the qualification of which is not necessary or appropriate in the public interest or for the protection of investors, any transaction whereby an issuer allocates to its employees or employees of its parent or subsidiaries "units" representing a right eventually to receive cash (but not stock) measured by dividends paid on shares of capital stock of the issuer or the market value of shares of capital stock of the issuer or both in a so-called "phantom stock plan."
Cal. Code Regs. Tit. 10, § 260.105.5
2. Amendment filed 10-20-83; effective thirtieth day thereafter (Register 83, No. 43).
Note: Authority cited: Sections 25105 and 25610, Corporations Code. Reference: Section 25105, Corporations Code.
2. Amendment filed 10-20-83; effective thirtieth day thereafter (Register 83, No. 43).