Cal. Code Regs. tit. 10 § 2608.04
Current through Register 2024 Notice Reg. No. 24, June 14, 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.
Cal. Code Regs. Tit. 10, § 2608.04