This Practice Note looks at the main considerations that arise in relation to employee share plans on a rights issue, open offer or placing, the process that will typically need to be taken in respect of outstanding share options and awards and the associated tax treatment. This includes specific consideration of company share option plans (CSOPs), save as you earn (SAYE) options, enterprise management incentives (EMI) options, and share incentive plans (SIPs), as well as non-tax advantaged share option plans and long-term incentive plans (LTIPs). It also considers the method by which an adjustment may be made in respect of employee share plans where a rights issue, open offer or placing occurs, and gives a worked example of such an adjustment. Produced in partnership with Stephen Diosi of Mishcon de Reya.