All the following statements concerning phantom stock are correct, EXCEPT: The executive is given shares of company stock, which can be sold at retirement. When the payment is made to an executive for phantom stock, the payment is taxed as ordinary income and is subject to withholding. The executive does not have to pay anything for phantom stock and will avoid the financing costs associated with options. The timing for the valuation of phantom stock for determining the payment to the executive is not subject to the executive's control. (A) (B) (C) (D) 30