Faced with such a change, businesses would almost certainly decide to grant fewer options.

The company also granted him an additional 22,675 shares, worth about $117,000, and options to buy 4,450 more.

But 76 of the 176 companies that granted options gave more than the year before.

So the percentage of companies that grant options to executives has stayed more or less the same.

It is not uncommon for chief executives to be granted options at or below the current stock price.

These companies would qualify as a company that grants options to all employee groups.

Employers can grant employees options on up to £30,000 worth of shares each.

He was granted options worth $1.5 million at their peak.

It added that he had been granted options to buy 750,000 more shares at $10.75 each.

For most executives granted options in 1997, 1998 and 1999 that is not an issue.