Akukho nto inomngcipheko malunga neentengiso ze-Phantom
Hayi, ezi zivalo zihlukeneyo zomoya, ngendlela ebizwa ngokuba yi "phantom" esitokisini esanda kwanda kwiqumrhu lomvuzo.
Iinkampani ezinjenge-Publix Supermarkets, i-Saatchi ne-Saatchi, kunye ne-Proctory neGamble (okanye banikele) abasebenzi abathile uhlobo lobunini bempahla yesigcino, njengenxalenye yepakethi zabo zembuyekezo.
Lindela amafemu amaninzi ukuba alandele njengoko ayaqonda iingenelo zokuphumeza iiprojekti zempesheni yokuhlawulela abasebenzi.
Iimpahla zeFantom ezichazwe
Izitokisi ze-Phantom yiloo nto egama layo lichaza-uhlobo lweembuyekezo zomsebenzi ezinika abasebenzi ithuba lokufikelela kubunini bempahla ngaphandle kokugcina isitokisi. Njengawo nawuphi na isitokisini sangempela, ama-stockant phantom aphakama kwaye awa xabiso ngokuhambelanayo ne-stock stock, kwaye abasebenzi bahlawulelwa ngeenzuzo ezivela kuyo nayiphi na inkampani yokuxabisa impahla ngosuku oluthile.
Ngokubanzi, inani lezabelo ze-phantom ezinikezelwa kumqeshwa okanye umphathi kuxhomekeke kwintlawulo yomntu lowo. Ophakamileyo lowo msebenzi uxabiswa, ezinye izabelo zamasheya ezinqwenelekayo anokufumana. Xa izitokethi ze-phantom zinikezelwa, "indlela yokulibaziseka" ikhawulwa kuyo, apho ukuhlawula kwezemali okwenziweyo kwenziwa emva kwexesha elide-iminyaka emihlanu ukuya kweyintlanu yintlawulo ekhoyo ye-phantom, ngokuxhomekeka kwisivumelwano esenziwe phakathi kwenkampani kunye nabasebenzi .
Ngaloo nto, iinkampani zisebenzisa ama-phantom esitokisini njengesixhobo esishukumisayo sokuvuza abasebenzi kunye nokunika abo baqeshwa "isikhumba emdlalweni" ukunyusa umkhiqizo wendawo yokusebenza kunye nokufumana inkampani inzuzo engaphezulu-ifomu eqhuba ixabiso lempahla yenkampani, kunye .
Iintlobo zeFantom Stock
Xa kuphunyezwa izibambiso ze-phantom njengembuyekezo ye-stock stock, iinkampani zivame ukusebenzisa "ukuxabisa" kuphela izitokisi okanye "ixabiso elipheleleyo".
Nantsi indlela nganye imodeli ye-phantom esebenza ngayo:
Ukuxabisa kuphela: Amanqaku okubonga abagcini bempahla yamabhagi ekuhlaleni ixabiso langoku le-stock phantom. Endaweni yoko, abafumanayo bafumana nayiphi na inzuzo (oko kukuthi ukuxabisa intengo ye-stock) ukuba isitokthi se-phantom sinokufumana ixesha elithile. Ngokomzekelo, ukuba umqeshwa "A" wayeza kufumana amasheya angamawaka e-stockant phantom, kunye nesitokethi ngasinye sixabisa i-$ 20, ixabiso langoku lexabiso leenkampani liza kuba ngu-20,000. Ngaphantsi kwemiqathango yesivumelwano, umqeshwa kufuneka ahlale kunye nenkampani iminyaka emihlanu, umzekelo, ukufumana inzuzo ye-phantom yesitokethi (eyaziwa ngokuba yixesha "lokuthenga".) Ngaloo xesha, i-stock yekampani inyukile kuma-40 yabelana. Ngaphantsi kweso simo, umqeshwa "A", emva kwexesha eliyiminyaka emihlanu ubudala, uza kufumana umahluko phakathi kwe-20 yenani-mali yesabelo samhla ngomhla wokubanjiswa kwalo mbutho, kunye ne-40 yehora ngesabelo ngosuku xa enelungelo lokufumana nayiphi na inzuzo kwi-stock (okanye i-$ 20 ngesabelo ngasinye).
Ixabiso elipheleleyo: Ngaphantsi kwexabiso elipheleleyo le-stock phantom, ummkeli ufumana ixabiso langoku kunye nayo nayiphi na intengo yexabiso lempahla emva kokufika komhla wokugqibela.
Kwimeko ekhankanywe ngasentla, umqeshwa "A" akayi kuzuza kuphela imali engama-20 engamaxabiso kwintengo emva kweminyaka emihlanu, uza kuzuza ixabiso elikhoyo langoku ngomhla wokuqala kwaloo nto, kwaye i-20 yenxenye yesabelo kwisitokhwe esithengisayo kwi-40 yeesabelo ngasinye. Kwizabelo ezi-1 zeesitokisi , eziza kunika umqeshwa ama-40,000 amawaka emva komhla wokuqalisa umnyaka wesihlanu.
Iimveliso kunye neentengo zeeFantom Stocks
Njengaye naziphi na izixhobo zemali / utyalo-mali, akukho ukusilela kwezinto ezintle kunye nokunciphisa amancinci amancinci kunye nama-stockant phantom:
Iinkonzo
- Izitokisiso ze-Phantom zixhobo ezikhuthazayo zokubambisa abaqeshwa abalulekileyo ebhodini kwixesha lokubambisa lonke, kodwa nokukhuthaza ukuveliswa komsebenzi. Emva kwakho konke, xa intengo ye-phantom yemali ixabisa, inzuzo yommkeli, nayo. Kubaqeshi, okwenene ukuphumelela.
- Ngokunamathela kwisikripthi sesitokthi se-phantom, abanikazi bamashishini abanamabonakalo abawabonanga izabelo zabo zihlanjululwe ngexabiso, njengoko izitokisi zethunzi azifani neendawo ezikhoyo zeenkampani.
- Kubaqeshwa, akukho mfuneko yokuba bathenge ngokulinganayo amasheya esitokethi, njengoko abagcinisi-zimpahla rhoqo kufuneka benze kwiimakethe ezivulekileyo. Kunoko, izabelo ze-phantom zinikezelwa kwabasebenzi abangenawo imali yokutshintsha imali. Leyo inzuzo enkulu kubaqeshwa, abahlala kuphela kwi-stock, ngaphandle kokuba bahlawule.
- Ukulawulwa kweenkampani ze-stantom stocks kunenzuzo kubaqashi, ngokunjalo. Ngaphantsi kwesicatshulwa se-phantom yesitratshi okanye isivumelwano, iinkampani ziyakwazi ukunyanzelisa isakhiwo sesivumelwano. Ngokomzekelo, inkampani inokulawula izinga lokuthatha inxaxheba kwi-equity dividends ehlawulwa kwabasebenzi. Kwakhona, iinkampani zinokubandakanya izibonelelo kwisivumelwano sesitokisi se-phantom esithi "sichitha" nayiphi na inzuzo ye-phantom xa umqeshwa ekugqibeleni ehlukana nenkampani ngaphambi komhla wokugqitywa kwemvume.
Umxhasi
- Iinkampani ezizalise izicwangciso zesitokethi zephatom zinokufumana iindleko ezongezelelweyo, ingakumbi ukuba nayiphi na imbonakalo yokubaluleka kweempahla kufuneka igqitywe yinkampani ebhalisa ngaphandle.
- Kubasebenzi, inkampani ibiza zonke izibhengezo kwiinkampani ze-phantom equity, zinikeze ulawulo oluncinane okanye ulungelelaniso ukuba ixabiso lesabelo liya ngasezantsi. Zinganqunyulwa ngaphambi kokuba idibaniselwano iqhubekele, ngaphandle kwemibandela engaphandle kolawulo lomqeshwa, ibashiye ngaphandle kwenhlanhla ekuqokeleleni nayiphi na inzuzo yemali ye-phantom.
- Imirhumo ibandakanya ama-stockant phantom, kunye nawo. Umzekelo, iinkampani kufuneka zihambelane ngokungqongqo kwi-Internal Revenue Service ye-409A yomthetho, enqanda ukhetho lweenkampani ekumiseni imihla yokuhambisa, kwaye ikhusela nabasebenzi kunye nabaphathi ukuba baqhube ngokukhawuleza ukuhlawulwa kwempahla, ukuba babona ukuba inkampani ibe noxinzelelo lwezezimali.
- Kubaqeshwa, iifotom ze-phantom ziza nemida eqhelekileyo iqhutyelwe yikhosi yabaphathi beenkampani eziqhelekileyo. Ngokomzekelo, abanikazi bamashishini abathintekayo abanalo ilungelo lokuvota, kwaye abanako ukufumana izabelo, kuxhomekeke kwisakhiwo sento.
U kuthatha? Izicwangciso zesitokisiso se-Phantom zingabikho isisombululo esihle sokuqeshwa kwabaqeshi, kunye nesicwangciso esincomekayo sokukhuthaza abasebenzi. Ukuba iziganeko zihambela kwaye intengo yesitokethi ayiboni, akukho mqeshi okanye umqeshwa olahlekelwa nayiphi na imali ngqo kwi-deal.
Oku kunika ngaphezu kwe-downside kwizicwangciso zesitokisi esisigxina-isistim sezimali esibaluleke kakhulu xa ixesha lokugcinwa kwabasebenzi liphambili, kwaye xa i-market market isendleleni ephakamileyo.