Texas 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 Texas Eligible Directors' Stock Option Plan is a comprehensive equity compensation program offered by Kyle Electronics, a prominent company based in Texas, United States. This plan is specifically designed for eligible directors who serve on the company's board and provides them with stock option opportunities as part of their compensation package. The Texas Eligible Directors' Stock Option Plan aims to align the interests of directors with the long-term success and growth of Kyle Electronics. By granting stock options, directors are incentivized to drive strategic decision-making, foster innovative thinking, and contribute to the company's overall performance. Under this stock option plan, eligible directors have the opportunity to acquire shares of Kyle Electronics' common stock at a predetermined price, commonly known as the exercise price. These options typically vest over a specified period, encouraging long-term commitment and dedication from directors towards the company's objectives. This plan encompasses various types of stock options depending on the specific terms and conditions set forth by Kyle Electronics. Some possible types of Texas Eligible Directors' Stock Options Plans include: 1. Non-Qualified Stock Options (SOS): Non-qualified stock options are generally offered to eligible directors and represent the most common type of stock option. SOS provide flexibility in terms of exercise price and grant date, but they may be subject to additional taxation upon exercise. 2. Incentive Stock Options (SOS): Incentive stock options grant eligible directors the right to purchase company stock at a specific price, with potential tax advantages. SOS must comply with specific criteria set by the Internal Revenue Service (IRS), such as a maximum exercise price and holding period requirements. 3. Restricted Stock Units (RSS): Instead of traditional stock options, eligible directors may have the option to receive RSS under the Texas Eligible Directors' Stock Option Plan. RSS represents a promise to deliver shares of stock in the future, typically subject to vesting conditions. 4. Performance Stock Options: Kyle Electronics may also offer performance-based stock options, which are tied to predetermined performance targets. These options provide additional motivation for eligible directors to achieve specific company goals within a defined timeframe. 5. Stock Appreciation Rights (SARS): SARS grant eligible directors the right to receive the appreciation in the company's stock value. These rights can be exercised without having to purchase the underlying stock, making it an attractive option for directors. Overall, the Texas Eligible Directors' Stock Option Plan of Kyle Electronics presents directors with an opportunity to share in the company's success and align their interests with the shareholders. By granting stock options, Kyle Electronics aims to attract and retain top talent on its board while promoting long-term growth and value creation.

The Texas Eligible Directors' Stock Option Plan is a comprehensive equity compensation program offered by Kyle Electronics, a prominent company based in Texas, United States. This plan is specifically designed for eligible directors who serve on the company's board and provides them with stock option opportunities as part of their compensation package. The Texas Eligible Directors' Stock Option Plan aims to align the interests of directors with the long-term success and growth of Kyle Electronics. By granting stock options, directors are incentivized to drive strategic decision-making, foster innovative thinking, and contribute to the company's overall performance. Under this stock option plan, eligible directors have the opportunity to acquire shares of Kyle Electronics' common stock at a predetermined price, commonly known as the exercise price. These options typically vest over a specified period, encouraging long-term commitment and dedication from directors towards the company's objectives. This plan encompasses various types of stock options depending on the specific terms and conditions set forth by Kyle Electronics. Some possible types of Texas Eligible Directors' Stock Options Plans include: 1. Non-Qualified Stock Options (SOS): Non-qualified stock options are generally offered to eligible directors and represent the most common type of stock option. SOS provide flexibility in terms of exercise price and grant date, but they may be subject to additional taxation upon exercise. 2. Incentive Stock Options (SOS): Incentive stock options grant eligible directors the right to purchase company stock at a specific price, with potential tax advantages. SOS must comply with specific criteria set by the Internal Revenue Service (IRS), such as a maximum exercise price and holding period requirements. 3. Restricted Stock Units (RSS): Instead of traditional stock options, eligible directors may have the option to receive RSS under the Texas Eligible Directors' Stock Option Plan. RSS represents a promise to deliver shares of stock in the future, typically subject to vesting conditions. 4. Performance Stock Options: Kyle Electronics may also offer performance-based stock options, which are tied to predetermined performance targets. These options provide additional motivation for eligible directors to achieve specific company goals within a defined timeframe. 5. Stock Appreciation Rights (SARS): SARS grant eligible directors the right to receive the appreciation in the company's stock value. These rights can be exercised without having to purchase the underlying stock, making it an attractive option for directors. Overall, the Texas Eligible Directors' Stock Option Plan of Kyle Electronics presents directors with an opportunity to share in the company's success and align their interests with the shareholders. By granting stock options, Kyle Electronics aims to attract and retain top talent on its board while promoting long-term growth and value creation.