Kentucky 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 The Kentucky Stock Option Plan (SOP) of Hayes Wheels International, Inc. is a comprehensive program designed to provide employees with two types of stock options, namely Incentive Stock Options (SOS) and Nonqualified Stock Options (SOS). These options are granted as a means to reward and motivate employees while aligning their interests with those of the company. The Incentive Stock Options, also known as statutory stock options, are granted with various tax advantages for employees. The SOP offers SOS to eligible employees, allowing them to purchase company stock at a predetermined exercise price. These options are subject to certain restrictions, including holding periods, and are typically granted with a favorable long-term capital gains tax treatment upon exercise and sale of the stock. On the other hand, the Nonqualified Stock Options are granted to employees who may not meet the eligibility criteria for SOS or prefer options with different tax implications. SOS do not qualify for the same tax benefits as SOS. However, they offer more flexibility in terms of eligibility requirements and can be granted to a wider range of employees, including non-executive staff. SOS can be exercised at a set price, which may or may not be equal to the fair market value of the stock at the time of grant. The Kentucky Stock Option Plan of Hayes Wheels International, Inc. aims to provide employees with the opportunity to share in the company's success and benefit from its growth. By offering both Incentive Stock Options and Nonqualified Stock Options, the company caters to the diverse needs and circumstances of its employees. These stock options serve as a valuable tool to attract, retain, and incentivize talented individuals who contribute to the overall success of Hayes Wheels International, Inc.

The Kentucky Stock Option Plan (SOP) of Hayes Wheels International, Inc. is a comprehensive program designed to provide employees with two types of stock options, namely Incentive Stock Options (SOS) and Nonqualified Stock Options (SOS). These options are granted as a means to reward and motivate employees while aligning their interests with those of the company. The Incentive Stock Options, also known as statutory stock options, are granted with various tax advantages for employees. The SOP offers SOS to eligible employees, allowing them to purchase company stock at a predetermined exercise price. These options are subject to certain restrictions, including holding periods, and are typically granted with a favorable long-term capital gains tax treatment upon exercise and sale of the stock. On the other hand, the Nonqualified Stock Options are granted to employees who may not meet the eligibility criteria for SOS or prefer options with different tax implications. SOS do not qualify for the same tax benefits as SOS. However, they offer more flexibility in terms of eligibility requirements and can be granted to a wider range of employees, including non-executive staff. SOS can be exercised at a set price, which may or may not be equal to the fair market value of the stock at the time of grant. The Kentucky Stock Option Plan of Hayes Wheels International, Inc. aims to provide employees with the opportunity to share in the company's success and benefit from its growth. By offering both Incentive Stock Options and Nonqualified Stock Options, the company caters to the diverse needs and circumstances of its employees. These stock options serve as a valuable tool to attract, retain, and incentivize talented individuals who contribute to the overall success of Hayes Wheels International, Inc.