A corporation may issue rights, options, or warrants for the purchase of shares of the corporation. The board of directors shall determine the terms upon which the rights, options, or warrants are issued, their form and content, and the consideration for which the shares are to be issued.
Share options
Ark. Code Ann. § 4-27-624 — under Business Corporation Act of 1987.
Ark. Code Ann. § 4-27-624