1. Subordinate to all other classes of common and preferred stock, these shares are last in line when a company goes bankrupt and liquidates all assets.
2. These are different from phantom stocks because they don't allow for payment in cash. Also, rather than actual deposits of securities, companies sometimes maintain bookkeeping entries of cash equaling an offsetting security position. When the executive or director leaves the company, the cash is converted into stocks at market value.
3. No longer commonly used, these shares provided its holders with large dividend payouts only after all other classes of shareholders are paid. Holders of deferred shares had access to all the remaining profits after all obligations were met.
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The directors receive their cash compensation in deferred share units, an instrument designed to mirror the increases and declines of a company's stock.
The National Association of Pension Funds objects to the fact that the deferred shares are paid out regardless of the performance of the company over the intervening three years.
акція з відстроченим дивідендом; молодша акція; акція другої черги