Equity$-$based compensation plans may

A$)$

be established for executives only and do not have to cover rank$-$and$-$file employees, and are therefore subject to ERISA requirements.

B$)$

not be established for executives only and must also cover rank$-$and$-$file employees, and are therefore not generally subject to ERISA requirements.

C$)$

not be established for executives only and must also cover rank$-$and$-$file employees, and are therefore subject to ERISA requirements.

D$)$

be established for executives only and do not have to cover rank$-$and$-$file employees, and are therefore not generally subject to ERISA requirements.