Which of the following are characteristics of Stock Appreciation Rights?
I. Employees are not required to pay an exercise price to exercise the rights
II. They are granted to employees as a form of non-cash compensation
III. They are subject to a vesting schedule
IV. The provide the right to buy shares of the company's common stock
A) I only
B) I and II only
C) I, II, and III only
D) I, II, III, and IV
Answer: C