Court of Appeal hands down judgment on options and restricted shares – Charman


The Court of Appeal has held that a “right to acquire shares” for the purposes of the Securities Options provisions in ITEPA is obtained when an option is granted, and not at the later time of vesting.  The Court also reviewed the “by reason of” employment test.  Ultimately, it is a highly fact-sensitive matter requiring careful consideration of all relevant circumstances.

Hui Ling McCarthy QC acted for Mr Charman.  The judgment can be found here.