Missouri 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 Missouri Stock Option Plan of Hayes Wheels International, Inc. is a comprehensive program designed to offer employees the opportunity to acquire shares of the company's stock through the issuance of Incentive Stock Options (SOS) and Nonqualified Stock Options (Nests). This plan serves as a valuable tool in attracting and retaining talented individuals while aligning their interests with the growth and success of the company. Under this plan, employees are granted the right to purchase company stock at a predetermined price, known as the exercise price. The granted options usually have a vesting period, during which the employee must remain employed with the company to be eligible to exercise the options. Incentive Stock Options, one type of option under this plan, offer tax advantages to eligible employees. If specific requirements are met, such as holding the acquired shares for a certain period of time, any profit from the sale of the stock may be taxed as long-term capital gains, providing potential tax savings. Nonqualified Stock Options constitute another type of option available under this plan. Unlike SOS, Nests do not offer the same tax advantages. However, they provide greater flexibility in terms of granting options to employees who may not meet the strict eligibility criteria of SOS. The Missouri Stock Option Plan of Hayes Wheels International, Inc. aims to encourage employee ownership and motivate employees to contribute to the company's growth and profitability. By offering stock options, the company provides a sense of ownership and fosters a closer relationship between employees and shareholders. It is important to note that the specific details, terms, and conditions of the Missouri Stock Option Plan may vary based on the company's internal policies and guidelines. Employees should refer to the official plan documents and consult with their Human Resources or Finance department for precise information on eligibility, vesting periods, exercise prices, tax implications, and any administrative rules or restrictions that may be applicable.

The Missouri Stock Option Plan of Hayes Wheels International, Inc. is a comprehensive program designed to offer employees the opportunity to acquire shares of the company's stock through the issuance of Incentive Stock Options (SOS) and Nonqualified Stock Options (Nests). This plan serves as a valuable tool in attracting and retaining talented individuals while aligning their interests with the growth and success of the company. Under this plan, employees are granted the right to purchase company stock at a predetermined price, known as the exercise price. The granted options usually have a vesting period, during which the employee must remain employed with the company to be eligible to exercise the options. Incentive Stock Options, one type of option under this plan, offer tax advantages to eligible employees. If specific requirements are met, such as holding the acquired shares for a certain period of time, any profit from the sale of the stock may be taxed as long-term capital gains, providing potential tax savings. Nonqualified Stock Options constitute another type of option available under this plan. Unlike SOS, Nests do not offer the same tax advantages. However, they provide greater flexibility in terms of granting options to employees who may not meet the strict eligibility criteria of SOS. The Missouri Stock Option Plan of Hayes Wheels International, Inc. aims to encourage employee ownership and motivate employees to contribute to the company's growth and profitability. By offering stock options, the company provides a sense of ownership and fosters a closer relationship between employees and shareholders. It is important to note that the specific details, terms, and conditions of the Missouri Stock Option Plan may vary based on the company's internal policies and guidelines. Employees should refer to the official plan documents and consult with their Human Resources or Finance department for precise information on eligibility, vesting periods, exercise prices, tax implications, and any administrative rules or restrictions that may be applicable.