Alabama Eligible Directors' Stock Option Plan of Wyle Electronics

• Category: Corporations - Public - Stock Options
• State: Multi-State
• Control #: US-CC-18-362C
• Format: Word; Rich Text

Description

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 The Alabama Eligible Directors' Stock Option Plan is a comprehensive program offered by Kyle Electronics, a leading company in the electronics industry in Alabama. This plan aims to attract and retain talented individuals who serve as directors on the company's board by providing them with stock options. Under this plan, eligible directors of Kyle Electronics are granted the opportunity to purchase a specified number of company shares at a predetermined price within a defined period. These stock options are typically granted as an incentive or reward for the director's service and to align their interests with the company's overall performance and value. There are several types of Alabama Eligible Directors' Stock Option Plans available at Kyle Electronics, each tailored to suit the varying needs and circumstances of the directors. These may include: 1. Non-Qualified Stock Options (SOS): These stock options provide directors with the right to purchase company stock at a predetermined price for a specified period, regardless of certain tax advantages associated with other types of stock options. 2. Incentive Stock Options (SOS): SOS are stock options that offer potential tax benefits to directors. These options allow the purchase of company stock at a predetermined price, usually set at or above the fair market value at the time of grant. If certain holding requirements are met, the gains from ISO exercises may be eligible for favorable tax treatment. 3. Restricted Stock Units (RSS): In addition to stock options, Kyle Electronics may also offer RSS to eligible directors. RSS represents a promise to issue company stock at a specified future date, with the value of each unit tied to the company's stock price. Directors receive the actual shares upon vesting or fulfillment of specified conditions. 4. Performance Stock Units (Plus): These stock options are granted based on predefined performance goals and objectives. They provide directors with the opportunity to earn company stock if the established performance criteria are met within a specified timeframe. Overall, the Alabama Eligible Directors' Stock Option Plan of Kyle Electronics aims to align the interests of directors with the company's growth and success. It provides them with a valuable opportunity to participate in the company's financial performance while acting as an incentive to drive their commitment and dedication towards achieving organizational goals.

The Alabama Eligible Directors' Stock Option Plan is a comprehensive program offered by Kyle Electronics, a leading company in the electronics industry in Alabama. This plan aims to attract and retain talented individuals who serve as directors on the company's board by providing them with stock options. Under this plan, eligible directors of Kyle Electronics are granted the opportunity to purchase a specified number of company shares at a predetermined price within a defined period. These stock options are typically granted as an incentive or reward for the director's service and to align their interests with the company's overall performance and value. There are several types of Alabama Eligible Directors' Stock Option Plans available at Kyle Electronics, each tailored to suit the varying needs and circumstances of the directors. These may include: 1. Non-Qualified Stock Options (SOS): These stock options provide directors with the right to purchase company stock at a predetermined price for a specified period, regardless of certain tax advantages associated with other types of stock options. 2. Incentive Stock Options (SOS): SOS are stock options that offer potential tax benefits to directors. These options allow the purchase of company stock at a predetermined price, usually set at or above the fair market value at the time of grant. If certain holding requirements are met, the gains from ISO exercises may be eligible for favorable tax treatment. 3. Restricted Stock Units (RSS): In addition to stock options, Kyle Electronics may also offer RSS to eligible directors. RSS represents a promise to issue company stock at a specified future date, with the value of each unit tied to the company's stock price. Directors receive the actual shares upon vesting or fulfillment of specified conditions. 4. Performance Stock Units (Plus): These stock options are granted based on predefined performance goals and objectives. They provide directors with the opportunity to earn company stock if the established performance criteria are met within a specified timeframe. Overall, the Alabama Eligible Directors' Stock Option Plan of Kyle Electronics aims to align the interests of directors with the company's growth and success. It provides them with a valuable opportunity to participate in the company's financial performance while acting as an incentive to drive their commitment and dedication towards achieving organizational goals.