Grant
A grant is an amount of money given mainly by the government to a person or organization for a particular purpose [Cambridge Dictionary].
A grant is money that a government or other institution gives to an individual or an organization for a particular purpose, such as education or home improvements [Collins English Dictionary].
A grant is usually a financial award given by one entity (typically a company, foundation, or government) to an individual or a company to facilitate a goal or incentivize performance. Grants are gifts that must not be paid back under most conditions. These can include education loans, research money, and stock options. Some grants have waiting periods — called lock-up or vesting periods — before the grantee can take full ownership of the financial reward. For businesses, a grant often refers to the award of options on the company's stock given to an employee to elicit loyalty and incentivize strong job performance. After the waiting period, the employee can exercise these stock options and take a position of shares regularly at a price below the stock's market value. Sometimes actual shares of stock are granted and can be sold after a waiting period. Stock option grants are usually offered to employees after working at the company for a set time. Each company decides how its grant program operates. Still, most of the time, employees must continue to work for the company and cannot exercise their granted options (sell their granted shares) for a set time [Investopedia].
Grant. Cambridge Dictionary. Retrieved from: https://dictionary.cambridge.org/dictionary/english/grant
Grant. Collins English Dictionary. Retrieved from: https://www.collinsdictionary.com/dictionary/english/grant
Chen, J. (2021). What Is a Grant? Definition, Examples, and How Grant Options Work. Investopedia. Retrieved from: https://www.investopedia.com/terms/g/grant.asp