Incentive Stock Options

[Randy Watson]

If a corporation has a "stock split" that results in a greater number of outstanding shares, does the aggregate number of shares available for issue under the ISO need to amended to reflect the split if they want to have the option of issuing more shares based on that split? Can they simply award from ISOs based on the split?

Assume 100,000 shares were approved for issuance under the ISO. Two years later there is a stock split and there are now 2 shares to every 1 share there was at the time the ISO was approved. Do we need to amend the plan if we want to be able to issue 200,000 shares under the ISO plan?

What if over 100,000 shares were awarded under the ISO but the plan was never amended to reflect the greater number of shares available due to the split?