Oklahoma 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 Oklahoma Stock Option Plan of Hayes Wheels International, Inc. is a comprehensive program designed to provide employees with the opportunity to acquire stock options in the company. This plan offers both Incentive Stock Options (SOS) and Nonqualified Stock Options (SOS), allowing employees to choose the option that suits their individual needs and objectives. Incentive Stock Options (SOS) are a type of stock option that offers potential tax advantages to employees. These options are typically granted to key employees and executives and are subject to various rules and restrictions outlined in the Internal Revenue Code. SOS must meet specific criteria, such as being granted at fair market value and having an exercise price no lower than the stock's fair market value on the grant date. When SOS are exercised, the resulting gains may qualify for favorable tax treatment, with the potential for long-term capital gains tax rates upon sale of the acquired shares. On the other hand, Nonqualified Stock Options (SOS) do not have the same tax advantages as SOS. SOS can be granted to any employee, including executives, directors, and consultants. These options offer more flexibility in terms of exercise price, grant date, and vesting schedule. However, they are typically subject to ordinary income tax rates upon exercise, and any gain from the sale of the acquired shares is subject to taxes as well. The Oklahoma Stock Option Plan of Hayes Wheels International, Inc. ensures that employees have the opportunity to participate in the company's growth by granting them stock options. These options can serve as a powerful incentive, aligning the interests of employees with the company's overall success. By offering both Incentive Stock Options and Nonqualified Stock Options, Hayes Wheels International, Inc. enables employees to choose the option type that best fits their financial situation and goals. Overall, the Oklahoma Stock Option Plan of Hayes Wheels International, Inc. provides a comprehensive and flexible framework for granting stock options to employees, fostering employee engagement, and potentially rewarding them for their contributions to the company's growth and success.

The Oklahoma Stock Option Plan of Hayes Wheels International, Inc. is a comprehensive program designed to provide employees with the opportunity to acquire stock options in the company. This plan offers both Incentive Stock Options (SOS) and Nonqualified Stock Options (SOS), allowing employees to choose the option that suits their individual needs and objectives. Incentive Stock Options (SOS) are a type of stock option that offers potential tax advantages to employees. These options are typically granted to key employees and executives and are subject to various rules and restrictions outlined in the Internal Revenue Code. SOS must meet specific criteria, such as being granted at fair market value and having an exercise price no lower than the stock's fair market value on the grant date. When SOS are exercised, the resulting gains may qualify for favorable tax treatment, with the potential for long-term capital gains tax rates upon sale of the acquired shares. On the other hand, Nonqualified Stock Options (SOS) do not have the same tax advantages as SOS. SOS can be granted to any employee, including executives, directors, and consultants. These options offer more flexibility in terms of exercise price, grant date, and vesting schedule. However, they are typically subject to ordinary income tax rates upon exercise, and any gain from the sale of the acquired shares is subject to taxes as well. The Oklahoma Stock Option Plan of Hayes Wheels International, Inc. ensures that employees have the opportunity to participate in the company's growth by granting them stock options. These options can serve as a powerful incentive, aligning the interests of employees with the company's overall success. By offering both Incentive Stock Options and Nonqualified Stock Options, Hayes Wheels International, Inc. enables employees to choose the option type that best fits their financial situation and goals. Overall, the Oklahoma Stock Option Plan of Hayes Wheels International, Inc. provides a comprehensive and flexible framework for granting stock options to employees, fostering employee engagement, and potentially rewarding them for their contributions to the company's growth and success.