18-362C 18-362C . . . Eligible Directors' Stock Option Plan under which (a) each outside director who was in office on October 1, 1996 was granted, subject to stockholder approval of Plan, option to purchase 4,000 shares of stock and each outside director who first takes office after October 1, 1996 will receive a one-time initial option to purchase 10,000 shares of stock, and (b) each outside director in office on October 1, 1996 will be granted an option on April 1 of each year commencing in 1997 to purchase 4,000 shares of stock provided he or she is in office on date of grant, and each outside director who takes office after October 1, 1996 will be granted an option on April 1 of each year to purchase 6,000 shares of stock provided he or she is in office on date of grant. Exercise price of all options is fair market value on date of grant. All options are exercisable six months after date of grant
Eligible Directors' Stock Option Plan of Wyle Electronics
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FAQ
Incentive stock options (ISOs), are a type of employee stock option that can be granted only to employees and confer a U.S. tax benefit. ISOs are also sometimes referred to as statutory stock options by the IRS. ISOs have a strike price, which is the price a holder must pay to purchase one share of the stock.
In a private company setting, after the founders have been issued fully vested or restricted stock under their stock purchase agreements, the employees, consultants, advisors and directors who are subsequently hired commonly receive equity compensation through stock options.
Q: Can a member of the board of directors receiving a stock option as compensation for board member service receive an incentive or statutory stock option (an ISO)? A: No. A board member who is just a board member, and not otherwise an employee of the company cannot receive an ISO. Only employees can receive ISOs.
Stock options are often issued as a part of a company's incentive program to the company's and its subsidiaries' key persons who are working on the company's projects. The purpose of the stock options is to give personnel a financial incentive to work hard to increase the company's shareholder value.
A share option is the right to buy a certain number of shares at a fixed price, some period of time in the future, within a company.They can then keep the shares or, if the market price is higher, sell them at a profit.