Has anyone used shares / share option plans as incentives for management?

Hi Eric, thanks for the steer. Makes a lot of sense to tie any benefits to direct impact of each employee. We will keep this in mind when setting up incentives. I think a bonus scheme connected to specific measurables is almost always the best way to go (provided measurement is possible and metrics don't distort behaviour). Thanks!

Tim, I'm a big fan of aligning incentives between ownership and management as much as possible. One word of caution though from my prior experience at a larger PE firm: The uncertain timeline and value of any payoff from an options grant can limit the impact it has on motivating management. A CEO will likely share the vision and alignment, but even a CEO's direct reports may not put much weight on an uncertain payoff 5-8 years down the road. While appreciated, it likely won't drive daily behavior to the same extent as a more traditional annual bonus program.