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Types of Plans
There are really three different types of long-term incentive plans (a) equity/stock plans, (b) phantom stock plans, and (c) financial metric plans.
Stock plans literally result in employee-owners. Plans include stock options, restricted stock, and performance shares among others.
Phantom stock programs include full value plans, appreciation only plans (known here as phantom stock options) and performance phantom share plans.
Financial metric plans include a wide variety of programs known by various names such as profit pools and performance unit plans.
The most common phantom stock programs are Full Value plans and Phantom Stock Options.