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🇪🇺 Europe · EuropeBSA (France)
Also called: bons de souscription d'actions, French warrant
In one line
A French share warrant — a right to subscribe for shares at a set price — used for investors, advisers or employees who don't qualify for BSPCE.
In plain English
BSA are France's warrants: a paid-for right to buy shares later at a fixed price. Unlike BSPCE they can go to non-employees and carry different, less favourable tax.
If you were explaining it to a 5-year-old
A French voucher to buy a toy later at a set price — handed to helpers or friends who don't qualify for the special employee voucher.
Why it matters when you sell
If you hold BSA rather than BSPCE, the tax and mechanics differ, changing the economics of exercising and selling.
Related terms
Put it to use
When you're ready to go deeper, there's an optional Equity Toolkit and Report.
Sources
Primary references for this term: impots.gouv.fr (France). Our definitions are written in plain English and kept evergreen — see the glossary methodology. General information, not advice.
Educational information only — not financial, tax or legal advice, and not an offer to buy or sell any security. Definitions are general; your own documents and local law govern your situation. PrivateTechShares is independent and not a broker or marketplace.