Jocko works for IBM, a publicly traded company that sponsors a stock bonus plan. Which of the following statements is not correct regarding the plan?

a. If Jocko has less than three years, he is permitted to diversify one-half of company match contributions that consist of IBM stock.

b. Jocko is permitted to vote the shares of IBM within his account.

c. Upon termination, Jocko must be given the right to receive IBM stock held in the plan as part of a distribution.

d. If the distribution of IBM stock is made to Jocko in installments over a two year period, then the fair market value of all employer securities distributed in the installment distribution will be taxable as ordinary income.