Utah Employee Stock Option Plan of Vivigen, Inc.

• Category: Corporations - Public - Stock Options
• State: Multi-State
• Control #: US-CC-18-148
• Format: Word; Rich Text

Description

18-148 18-148 . . . Employee Stock Option Plan which recognizes eight levels of responsibility within corporation and which provides that each eligible employee shall receive stock option to purchase that number of shares of corporation common stock that is equal to number derived by dividing option value corresponding to his or her level of responsibility by initial grant price (fair market value on date of grant) according to schedule which ranges from technical and administrative personnel levels one through four with option values from $1,250 through $5,000 to Chief Executive Officer level eight with option value of $100,000. Options are exercisable for up to (a) 50% of shares covered by option at any time after corporation's gross revenues meet or exceed a 30% increase for each of two consecutive calendar years ending following grant of option and (b) 100% of shares covered by option at any time after corporation's gross revenues meet or exceed a 40% increase for each of two consecutive calendar years following grant of stock option Utah Employee Stock Option Plan of Vivien, Inc. is an employee benefit program that allows employees of Vivien, Inc., a company based in Utah, to purchase company stock at a predetermined price within a specific time frame. This stock option plan aims to incentivize employees by providing them with the opportunity to own a stake in the company's success. The Utah Employee Stock Option Plan offers various types of stock options to accommodate different employee needs and objectives. These options may include: 1. Non-Qualified Stock Options (Nests): These stock options do not qualify for special tax treatment and are typically offered to employees at a discounted price compared to the current market value. Nests are subject to taxation upon exercise. 2. Incentive Stock Options (SOS): SOS are intended for key employees and provide potential tax advantages. They come with specific requirements and limitations set by the Internal Revenue Service (IRS). SOS may be offered at the fair market value of the stock and offer the potential for long-term capital gains tax rates upon sale. 3. Restricted Stock Units (RSS): RSS are awards of company stock that have vesting restrictions. Employees are granted RSS, and upon vesting, the shares are delivered to them. RSS may have certain conditions, such as achieving specific performance goals or tenure with the company, before they become fully vested and transferable. 4. Employee Stock Purchase Plan (ESPN): This type of plan enables employees to purchase company stock at a discounted price through regular payroll deductions. ESPN often have specific enrollment periods and may offer a "look-back" provision where employees can buy shares based on the lowest of the stock price at the beginning or end of the offering period. Utah Employee Stock Option Plan of Vivien, Inc. encourages employee participation and aligns their interests with the company's long-term success. The plan promotes employee retention, motivation, and loyalty, as employees have a vested interest in contributing to the company's growth and increasing its stock value. By offering different types of stock options, Vivien, Inc. ensures flexibility and inclusivity, catering to various employee preferences and financial situations. Disclaimer: The information provided above is for general informational purposes only and should not be construed as legal, financial, or tax advice. It is essential to consult with qualified professionals and review the specific terms and conditions of the Utah Employee Stock Option Plan offered by Vivien, Inc., or any other relevant documentation.

Utah Employee Stock Option Plan of Vivien, Inc. is an employee benefit program that allows employees of Vivien, Inc., a company based in Utah, to purchase company stock at a predetermined price within a specific time frame. This stock option plan aims to incentivize employees by providing them with the opportunity to own a stake in the company's success. The Utah Employee Stock Option Plan offers various types of stock options to accommodate different employee needs and objectives. These options may include: 1. Non-Qualified Stock Options (Nests): These stock options do not qualify for special tax treatment and are typically offered to employees at a discounted price compared to the current market value. Nests are subject to taxation upon exercise. 2. Incentive Stock Options (SOS): SOS are intended for key employees and provide potential tax advantages. They come with specific requirements and limitations set by the Internal Revenue Service (IRS). SOS may be offered at the fair market value of the stock and offer the potential for long-term capital gains tax rates upon sale. 3. Restricted Stock Units (RSS): RSS are awards of company stock that have vesting restrictions. Employees are granted RSS, and upon vesting, the shares are delivered to them. RSS may have certain conditions, such as achieving specific performance goals or tenure with the company, before they become fully vested and transferable. 4. Employee Stock Purchase Plan (ESPN): This type of plan enables employees to purchase company stock at a discounted price through regular payroll deductions. ESPN often have specific enrollment periods and may offer a "look-back" provision where employees can buy shares based on the lowest of the stock price at the beginning or end of the offering period. Utah Employee Stock Option Plan of Vivien, Inc. encourages employee participation and aligns their interests with the company's long-term success. The plan promotes employee retention, motivation, and loyalty, as employees have a vested interest in contributing to the company's growth and increasing its stock value. By offering different types of stock options, Vivien, Inc. ensures flexibility and inclusivity, catering to various employee preferences and financial situations. Disclaimer: The information provided above is for general informational purposes only and should not be construed as legal, financial, or tax advice. It is essential to consult with qualified professionals and review the specific terms and conditions of the Utah Employee Stock Option Plan offered by Vivien, Inc., or any other relevant documentation.