Puerto Rico 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 Puerto Rico Stock Option Plan of Hayes Wheels International, Inc. is a comprehensive plan that allows employees of the company to be granted both Incentive Stock Options (SOS) and Nonqualified Stock Options (SOS). The plan is designed to incentivize and reward employees for their performance and commitment towards the company's success. Incentive Stock Options (SOS) are a type of stock option granted to employees that provide certain tax advantages. These options are usually granted at a specific exercise price and can only be exercised after a certain vesting period. SOS can provide employees with the opportunity to purchase company stock at a discounted price and enjoy potential capital gains upon its eventual sale. On the other hand, Nonqualified Stock Options (SOS) are stock options that do not meet the specific requirements set forth by the Internal Revenue Service (IRS) to qualify as SOS. SOS are typically granted to employees, directors, and consultants, and they offer more flexibility in terms of exercise price and exercise timing. However, SOS do not provide the same tax advantages as SOS. The Puerto Rico Stock Option Plan of Hayes Wheels International, Inc. aims to provide employees with the opportunity to participate in the company's growth and success through the grant of both SOS and SOS. By offering these stock options, the company encourages long-term commitment, performance, and loyalty from its employees. Through the plan, eligible employees are granted SOS and SOS based on specific criteria determined by the company. These options provide employees with the ability to purchase company stock at predetermined prices, offering potential financial gains as the company's stock value increases over time. Overall, the Puerto Rico Stock Option Plan of Hayes Wheels International, Inc. is a comprehensive program that offers both Incentive Stock Options and Nonqualified Stock Options to employees. This plan serves as an effective tool to attract, retain, and motivate employees while aligning their interests with the company's long-term growth objectives.

The Puerto Rico Stock Option Plan of Hayes Wheels International, Inc. is a comprehensive plan that allows employees of the company to be granted both Incentive Stock Options (SOS) and Nonqualified Stock Options (SOS). The plan is designed to incentivize and reward employees for their performance and commitment towards the company's success. Incentive Stock Options (SOS) are a type of stock option granted to employees that provide certain tax advantages. These options are usually granted at a specific exercise price and can only be exercised after a certain vesting period. SOS can provide employees with the opportunity to purchase company stock at a discounted price and enjoy potential capital gains upon its eventual sale. On the other hand, Nonqualified Stock Options (SOS) are stock options that do not meet the specific requirements set forth by the Internal Revenue Service (IRS) to qualify as SOS. SOS are typically granted to employees, directors, and consultants, and they offer more flexibility in terms of exercise price and exercise timing. However, SOS do not provide the same tax advantages as SOS. The Puerto Rico Stock Option Plan of Hayes Wheels International, Inc. aims to provide employees with the opportunity to participate in the company's growth and success through the grant of both SOS and SOS. By offering these stock options, the company encourages long-term commitment, performance, and loyalty from its employees. Through the plan, eligible employees are granted SOS and SOS based on specific criteria determined by the company. These options provide employees with the ability to purchase company stock at predetermined prices, offering potential financial gains as the company's stock value increases over time. Overall, the Puerto Rico Stock Option Plan of Hayes Wheels International, Inc. is a comprehensive program that offers both Incentive Stock Options and Nonqualified Stock Options to employees. This plan serves as an effective tool to attract, retain, and motivate employees while aligning their interests with the company's long-term growth objectives.