The length of this period should be fixed, and should not depend on actions or conditions that are at least partly under executives’ control. By contrast, prohibiting executives from cashing out shares and options until they leave the firm would provide executives who have accumulated shares and options with a large monetary value with counter-productive incentives to depart.
一旦高管在相对长的时间内无法售出股份和期权，这将会把他们的待遇与公司的长期股东价值联系在一起。这段禁售期应该是事先约定好的，不应该受制于或是至少是部分依赖于高管控制。这样一来，就会留住那些已经积累了大量的股份和期权的高管们。