Instead of looking for a proxy to share ownership, those options, price targets for shares and so on, why not simply align incentives by insisting that the management, the agents, must be substantial shareholders and thus also be principals.
That is held to result when the market suffers from inadequate or inaccurate information delivery, inadequate or insufficient competition, principal-agent problems (where agents fail to represent the interests of their principals), and externalities (where market actors fail to bear the costs of their actions or choices), among other problems.