Afterpay (ASX:APT) plans to update the Afterpay US 2018 Equity Incentive Plan to offer options which give eligible participants a right to acquire common stock.
In specified circumstances, exercised shares may be exchanged for APT shares.
Exchange into APT shares generally cannot occur prior to January 2023, in the absence of mutual agreement.
A total of 7,788,243 US Options are currently on issue.
Shares in Afterpay (ASX:APT) closed 1.95 per cent higher at $29.26 yesterday.