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A reload feature and reload option is defined in the ASC Master Glossary and generally provides for the automatic grant of additional options whenever an employee exercises previously granted options using shares, instead of cash for the exercise price. A clawback typically requires that an employee return the award (or underlying assets) if certain conditions are met (ASC 718-10-55-8). Companies should not consider those features when determining an award's grant-date fair value. As required by ASC 718-10-30-23 through ASC 718-10-30-24 and ASC 718-20-35-2, those features would only be considered when relevant transactions occur pursuant to those features. As a result, a subsequent option grant under a reload feature would be considered a new and separate award when granted. See also SC 10.2.4 for further discussion on awards with clawback features.
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