This year, GHY Corporation is exploring two dividend distribution methods for its shareholders:

Option $1$: Utilizing existing reserves to issue bonus shares to current shareholders free of charge.

Option $2$: Providing shareholders with the flexibility to opt for either additional shares or cash dividends, based on individual preferences.

What are the most suitable terms to characterize Option $1$ and Option $2?$

Option$1$: Scrip dividends; Option $2$: Share splits

Option $1$: Scrip issues $($Bonus issues$)$; Option $2$: Scrip dividends

Option $1$: Scrip issues $($Bonus issues$)$; Option $2$: Share splits

Option $1$: Scrip dividends ; Option$2$: Scrip issues $($Bonus issues$)$