Hawaii Stock Option Plan of Hayes Wheels International, Inc., which provides for grant of Incentive Stock Options and Nonqualified Stock Options

• Category: Corporations - Public - Stock Options
• State: Multi-State
• Control #: US-CC-18-345E
• Format: Word; Rich Text

Description

18-345E 18-345E . . . Stock Option Plan which provides for grant of Incentive Stock Options and Non-qualified Stock Options and (b) initial option grants to certain named officers, employees and consultants which contain specific Time Conditions and Performance Conditions as follows: number of shares underlying each option grant is divided into five equal portions which are designated Tranche A through Tranche E. Twenty percent of shares included in each of Tranches A through E shall satisfy Time Condition if optionee is employee or consultant on January 31, 1997 and on each January 31 thereafter. One hundred percent of shares included in each of Tranches A through E satisfy Performance Condition if average per share price of common stock for any consecutive twenty trading days on principal exchange on which common stock is traded equals or exceeds following prices: Tranche A - $16 per share, Tranche B - $32 per share, Tranche C - $48 per share, Tranche D - $64 per share, Tranche E - $80 per share. Notwithstanding above, Initial Grants become fully exercisable on ninth anniversary of date of grant Hayes Wheels International, Inc., based in Hawaii, offers a comprehensive stock option plan to its employees, known as the Hawaii Stock Option Plan. This plan allows for the grant of both Incentive Stock Options (SOS) and Nonqualified Stock Options (SOS). The Hawaii Stock Option Plan is designed to provide employees of Hayes Wheels International with an opportunity to share in the company's growth and success. By granting stock options, the company aims to align the interests of employees with those of shareholders, fostering a sense of ownership and motivation among the workforce. 1. Incentive Stock Options (SOS): These stock options are offered exclusively to employees of Hayes Wheels International and provide certain tax advantages. Under the Hawaii Stock Option Plan, SOS can be granted at a predetermined exercise price, allowing employees to purchase company stock at a specified period in the future. SOS generally come with specific vesting and exercise conditions. 2. Nonqualified Stock Options (SOS): Unlike SOS, SOS do not possess the same tax advantages and can be offered to both employees and non-employees, such as consultants or contractors. The Hawaii Stock Option Plan allows Hayes Wheels International to grant SOS at a set price, enabling recipients to buy company stock at a predetermined date and exercise price. The Hawaii Stock Option Plan of Hayes Wheels International aims to attract and retain top talent by providing an additional compensation mechanism. It serves as an incentive for employees to contribute to the company's growth and enhances employee loyalty and commitment. Participation in the Hawaii Stock Option Plan is subject to eligibility criteria, such as employment tenure and ongoing service. It is important for employees to review and understand the terms of the plan, including vesting schedules, exercise periods, and any restrictions or conditions imposed on the stock options. Overall, the Hawaii Stock Option Plan of Hayes Wheels International, Inc. plays a vital role in the company's compensation strategy, enabling employees to share in the success of the business and fostering a stronger connection between individual performance and company performance.

Hayes Wheels International, Inc., based in Hawaii, offers a comprehensive stock option plan to its employees, known as the Hawaii Stock Option Plan. This plan allows for the grant of both Incentive Stock Options (SOS) and Nonqualified Stock Options (SOS). The Hawaii Stock Option Plan is designed to provide employees of Hayes Wheels International with an opportunity to share in the company's growth and success. By granting stock options, the company aims to align the interests of employees with those of shareholders, fostering a sense of ownership and motivation among the workforce. 1. Incentive Stock Options (SOS): These stock options are offered exclusively to employees of Hayes Wheels International and provide certain tax advantages. Under the Hawaii Stock Option Plan, SOS can be granted at a predetermined exercise price, allowing employees to purchase company stock at a specified period in the future. SOS generally come with specific vesting and exercise conditions. 2. Nonqualified Stock Options (SOS): Unlike SOS, SOS do not possess the same tax advantages and can be offered to both employees and non-employees, such as consultants or contractors. The Hawaii Stock Option Plan allows Hayes Wheels International to grant SOS at a set price, enabling recipients to buy company stock at a predetermined date and exercise price. The Hawaii Stock Option Plan of Hayes Wheels International aims to attract and retain top talent by providing an additional compensation mechanism. It serves as an incentive for employees to contribute to the company's growth and enhances employee loyalty and commitment. Participation in the Hawaii Stock Option Plan is subject to eligibility criteria, such as employment tenure and ongoing service. It is important for employees to review and understand the terms of the plan, including vesting schedules, exercise periods, and any restrictions or conditions imposed on the stock options. Overall, the Hawaii Stock Option Plan of Hayes Wheels International, Inc. plays a vital role in the company's compensation strategy, enabling employees to share in the success of the business and fostering a stronger connection between individual performance and company performance.