Evergreen Option

Dictionary Says

Definition of 'Evergreen Option'

An employee option plan that grants additional shares to the plan every year. Also known as an "evergreen plan".
Investopedia Says

Investopedia explains 'Evergreen Option'

The number of shares granted to the plan is determined by a set percentage of the company's common shares outstanding.

In most cases, these plans don't have an expiry date and do not require shareholder approval.

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