Share-based employee benefits definitions set terms for options, SARs, trusts, eligibility, grant and exercise mechanics.

Regulation 2 defines terms central to implementing share based employee benefit schemes, including grant, vesting, exercise, exercise period and price, and instruments such as options, ESOS, ESPS, SARs and SAR schemes. It specifies beneficiary categories and exclusions for employees, identifies option and SAR grantees, and sets market and corporate reference points (market price, share, group, promoter/promoter group, relative). It also defines trust mechanisms, secondary acquisition, emergency funding, and confirms that other statutory definitions apply where terms are not specified.

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