North Carolina 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 North Carolina Eligible Directors' Stock Option Plan of Kyle Electronics is an incentivized program designed specifically for directors who serve on the board of this renowned technology company. This plan aims to grant eligible directors the opportunity to acquire company stock options as part of their compensation package. The purpose behind offering stock options is to align the interests of directors with those of the shareholders, promoting long-term commitment, and encouraging directors to actively contribute to the growth and success of Kyle Electronics. This stock option plan is exclusively available to directors who are based in the state of North Carolina, where Kyle Electronics is headquartered. It serves as an attractive benefit for directors, allowing them to participate in the company's financial performance and potentially earn significant returns on their investments. As the plan specifically targets directors in North Carolina, it highlights the company's commitment to fostering local talent, promoting economic growth within the state, and leveraging the regional expertise and knowledge within its governance structure. The North Carolina Eligible Directors' Stock Option Plan may consist of different types or variations, tailored to meet the specific needs and objectives of Kyle Electronics and its directors. These variations could include: 1. Standard Stock Option Plan: This type of plan grants eligible directors the right to purchase a predetermined number of company shares at a specified exercise price within a defined period. The exercise price is usually set at the fair market value of the stock on the date of grant, ensuring that directors have a vested interest in increasing the company's stock value over time. 2. Performance-based Stock Option Plan: In this variation, stock options are tied to specific performance metrics or milestones achieved by Kyle Electronics. Directors may be granted additional stock options if the company meets or exceeds its predetermined financial or operational goals. This type of plan motivates directors to actively contribute to the company's growth and ensures that stock options are awarded based on measurable success. 3. Restricted Stock Unit (RSU) Plan: In contrast to traditional stock option plans, RSS grant directors a specific number of company shares outright, subject to vesting conditions. Directors may receive the shares immediately or over a determined vesting period, which could be tied to the length of their service or the achievement of certain performance criteria. RSS provide directors with a sense of ownership and align their interests with long-term shareholder value. Overall, the North Carolina Eligible Directors' Stock Option Plan represents a valuable and customizable compensation tool for Kyle Electronics, allowing directors based in North Carolina to participate in the company's growth through stock options. By offering various plan options, Kyle Electronics ensures a tailored approach that aligns the interests of directors with the objectives of the company and its stakeholders.

The North Carolina Eligible Directors' Stock Option Plan of Kyle Electronics is an incentivized program designed specifically for directors who serve on the board of this renowned technology company. This plan aims to grant eligible directors the opportunity to acquire company stock options as part of their compensation package. The purpose behind offering stock options is to align the interests of directors with those of the shareholders, promoting long-term commitment, and encouraging directors to actively contribute to the growth and success of Kyle Electronics. This stock option plan is exclusively available to directors who are based in the state of North Carolina, where Kyle Electronics is headquartered. It serves as an attractive benefit for directors, allowing them to participate in the company's financial performance and potentially earn significant returns on their investments. As the plan specifically targets directors in North Carolina, it highlights the company's commitment to fostering local talent, promoting economic growth within the state, and leveraging the regional expertise and knowledge within its governance structure. The North Carolina Eligible Directors' Stock Option Plan may consist of different types or variations, tailored to meet the specific needs and objectives of Kyle Electronics and its directors. These variations could include: 1. Standard Stock Option Plan: This type of plan grants eligible directors the right to purchase a predetermined number of company shares at a specified exercise price within a defined period. The exercise price is usually set at the fair market value of the stock on the date of grant, ensuring that directors have a vested interest in increasing the company's stock value over time. 2. Performance-based Stock Option Plan: In this variation, stock options are tied to specific performance metrics or milestones achieved by Kyle Electronics. Directors may be granted additional stock options if the company meets or exceeds its predetermined financial or operational goals. This type of plan motivates directors to actively contribute to the company's growth and ensures that stock options are awarded based on measurable success. 3. Restricted Stock Unit (RSU) Plan: In contrast to traditional stock option plans, RSS grant directors a specific number of company shares outright, subject to vesting conditions. Directors may receive the shares immediately or over a determined vesting period, which could be tied to the length of their service or the achievement of certain performance criteria. RSS provide directors with a sense of ownership and align their interests with long-term shareholder value. Overall, the North Carolina Eligible Directors' Stock Option Plan represents a valuable and customizable compensation tool for Kyle Electronics, allowing directors based in North Carolina to participate in the company's growth through stock options. By offering various plan options, Kyle Electronics ensures a tailored approach that aligns the interests of directors with the objectives of the company and its stakeholders.