I have a couple of questions in respect of EMI shares, specifically in relation to the £250k (per ee) and £3million (company) limits.
1) I understand the above limits are based on when the options are first granted to the employee and therefore any future increase in the shares will not cause any issues? e.g if a group of employees are granted options at say £200k each (UMV) which at the time are the only EMI options issued and the overall value of the options is say £2million, I assume the company can issue grants at a later date upto an extra £50k at the new grant date for the existing option holders, £250k for new option holders and ensuring the additional options at the new grant date are now less than £1m even though the value of the existing options may now be worth more than the £2m when they were first granted?
2) If a company wanted to grant options which would exceed both limits above and there are no existing options in place, can they issue some up to the limits with the balance dealt with as an unapproved option?
3) Are there any EMI equivalants for large companies?