The plan offers no substantive option feature. Substantially all full-time employees may participate on an equitable basis.

B. The plan offers no substantive option feature. A. Substantially all full-time employees may participate on an equitable basis. Which of the following is not a characteristic of a noncompensatory stock option plan? A. Substantially all full-time employees may participate on an equitable basis. B. The plan offers no substantive option feature. C. Unlimited time period permitted for exercise of an option as long as the holder is still employed by the company. D. Discount from the market price of the stock no greater than would be reasonable in an offer of stock to stockholders or others.