期权，是一种选择权、增值权，指的是一种能在未来某特定时间以特定价格买人或卖出一定数量的某种特定商品的权利。下面山东股权激励人员为您讲讲他的四个特点。

Option is a kind of option and appreciation right, which refers to the right to buy or sell a certain amount of a specific commodity at a specific price at a specific time in the future. Next, Shandong equity incentive personnel will tell you about his four characteristics.

它是在期货的基础上产生的种金融工具，给予买方(或持有者)购买或出售标的资产的权利。期权的持有者在满足一定的限制条款后，可以在该项期权规定的时间内选择买或不买、卖或不卖的权利，他可以实施该权利，也可以放弃该权利，因而相比股票期货，期权是一种保本的方式。

It is a kind of financial instrument generated on the basis of futures, giving the buyer (or holder) the right to buy or sell the underlying assets. After meeting certain restrictions, the holder of an option can choose to buy or not buy, sell or not sell the right within the time specified by the option. He can implement the right or waive the right. Therefore, compared with stock futures, options are a way of capital preservation.

股票期权有四个特点:

Stock options have four characteristics:

(1)期权为看涨期权，即公司股价在高于行权价的条件下，激励对象行权后才能获利，若公司股价低于行权价，教励对象可以选择不行权。

(1) Options are call options, that is, when the company's share price is higher than the exercise price, incentive objects can make profits after the exercise. If the company's share price is lower than the exercise price, incentive objects can choose not to exercise.

(2)期权是有价值的，可以是公司免费赠送给激励对象。

(2) Options are valuable and can be given free by the company to incentive objects.

(3)期权不能转让、赠子，但可以继承。

(3) Options cannot be transferred or given children, but can be inherited.

(4)激励对象。

(4) Incentive objects.

获得股票须通过“行权”通常而言，使用期权作为股权激励的公司前景好、发展空间大，但暂时没有利润或现金流。该类企业有明确的上市目标，上市地点为境外尤佳，且激励范围较大。

Generally speaking, companies using options as equity incentives have good prospects and large development space, but there is no profit or cash flow for the time being. This type of enterprise has a clear listing target, especially overseas, and has a large incentive range.

此外在股票期权制度下，企业授予管理人员的仅仅是一个期权，是不确定的预期收入，它的价值只有在管理人员经过若干年的奋斗，使公司经营业绩上升和股票市价上涨后才能真正体现出来，这种收入是在市场中实现的。

In addition, under the stock option system, what the enterprise grants to the managers is only an option, which is an uncertain expected income. Its value can only be truly reflected after the managers have worked hard for several years to increase the company's operating performance and the stock market price. This kind of income is realized in the market.

公司始终没有现金流出。如果以增发新股的形式实施股票期权制度，公司的资本金还会增加。同时，经理人员在取得股票期权后，会比较容易接受相对较低的基本工资和奖金。这一点对处于创业阶段的高科技公司来说尤其重要。更多相关内容就来我们网站http://www.guquanzhanlue.com进行咨询吧！

The company has no cash outflow all the time. If the stock option system is implemented in the form of additional shares, the company's capital will increase. At the same time, managers will easily accept relatively low basic salaries and bonuses after obtaining stock options. This is particularly important for high-tech companies at the start-up stage. More relevant content will come to our website http://www.guquanzhanlue.com Consult!