Q$6$ Which of these are characteristics of phantom stock plans?

I. Company stock is issued to the employee as a reward for meeting performance goals.

II$.$ The employee becomes vested in theoretical shares according to a written agreement.

III. The plan is a way to reward employees without giving them actual ownership in the company.

IV$.$ Upon retirement or some other event, the employee receives the vested value of his account in cash

a$.$ II$,$ III, and IV$.$

b$.$ I, II$,$ and III.

c$.$ III and IV

d$.$ I and II