Florida 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 Keywords: Florida Eligible Directors' Stock Option Plan, Kyle Electronics, detailed description: The Florida Eligible Directors' Stock Option Plan is an incentive program offered by Kyle Electronics to its eligible directors who serve on the board of the company. This plan allows participating directors the opportunity to purchase company stock at a predetermined price within a specified timeframe. The stock options granted under this plan provide directors with the right to buy a certain number of shares at a discounted price, typically the market value on the date of grant. The Florida Eligible Directors' Stock Option Plan aims to align the interests of directors with those of the company's shareholders. By providing directors with stock options, Kyle Electronics encourages them to work diligently towards enhancing the company's performance and boosting shareholder value. There are a few different types or features commonly associated with the Florida Eligible Directors' Stock Option Plan of Kyle Electronics: 1. Vesting Schedule: Upon grant, stock options may have a vesting schedule that specifies a certain period during which the options cannot be exercised. This helps to ensure that directors remain committed and motivated to the company's long-term success. 2. Exercise Price: The exercise price is the predetermined price at which directors can purchase company stock. It is typically set at or above the market price on the date of grant. This ensures that directors benefit from any future increase in the company's stock price. 3. Exercise Period: The exercise period is the timeframe within which directors can exercise their stock options once they become vested. It is important for directors to carefully consider the timing of their exercise to maximize potential gains. 4. Stock Option Agreement: Directors who participate in the Florida Eligible Directors' Stock Option Plan are required to sign a stock option agreement that outlines the terms and conditions of their options. This agreement includes details such as the number of options granted, vesting schedule, exercise price, and applicable regulations. 5. Tax Implications: It is crucial for directors to be aware of the tax implications associated with exercising stock options. Depending on the specific circumstances and tax laws, directors may be subject to income tax on the difference between the exercise price and the fair market value of the stock on the date of exercise. The Florida Eligible Directors' Stock Option Plan of Kyle Electronics is designed to provide directors with an additional incentive to contribute to the company's growth and success while also aligning their interests with those of the shareholders. By offering stock options, Kyle Electronics aims to attract and retain top talent on its board, ultimately enhancing corporate governance and driving long-term shareholder value.

Keywords: Florida Eligible Directors' Stock Option Plan, Kyle Electronics, detailed description: The Florida Eligible Directors' Stock Option Plan is an incentive program offered by Kyle Electronics to its eligible directors who serve on the board of the company. This plan allows participating directors the opportunity to purchase company stock at a predetermined price within a specified timeframe. The stock options granted under this plan provide directors with the right to buy a certain number of shares at a discounted price, typically the market value on the date of grant. The Florida Eligible Directors' Stock Option Plan aims to align the interests of directors with those of the company's shareholders. By providing directors with stock options, Kyle Electronics encourages them to work diligently towards enhancing the company's performance and boosting shareholder value. There are a few different types or features commonly associated with the Florida Eligible Directors' Stock Option Plan of Kyle Electronics: 1. Vesting Schedule: Upon grant, stock options may have a vesting schedule that specifies a certain period during which the options cannot be exercised. This helps to ensure that directors remain committed and motivated to the company's long-term success. 2. Exercise Price: The exercise price is the predetermined price at which directors can purchase company stock. It is typically set at or above the market price on the date of grant. This ensures that directors benefit from any future increase in the company's stock price. 3. Exercise Period: The exercise period is the timeframe within which directors can exercise their stock options once they become vested. It is important for directors to carefully consider the timing of their exercise to maximize potential gains. 4. Stock Option Agreement: Directors who participate in the Florida Eligible Directors' Stock Option Plan are required to sign a stock option agreement that outlines the terms and conditions of their options. This agreement includes details such as the number of options granted, vesting schedule, exercise price, and applicable regulations. 5. Tax Implications: It is crucial for directors to be aware of the tax implications associated with exercising stock options. Depending on the specific circumstances and tax laws, directors may be subject to income tax on the difference between the exercise price and the fair market value of the stock on the date of exercise. The Florida Eligible Directors' Stock Option Plan of Kyle Electronics is designed to provide directors with an additional incentive to contribute to the company's growth and success while also aligning their interests with those of the shareholders. By offering stock options, Kyle Electronics aims to attract and retain top talent on its board, ultimately enhancing corporate governance and driving long-term shareholder value.