Pima Arizona Amended and Restated Stock Option Plan of Continental Materials Corp.

• Category: Corporations - Public - Stock Options
• State: Multi-State
• County: Pima
• Control #: US-CC-18-208H
• Format: Word; Rich Text

Description

18-208H 18-208H . . . Non-qualified Stock Option Plan under which committee can award reload stock options (Non-qualified Stock Options which (i) are awarded automatically upon exercise of stock option granted under Plan where option price is paid by optionee's delivery of previously owned shares of common stock, and (ii) entitle such optionee to purchase number of shares so delivered for option price equal to fair market value of a share of common stock on date original option was exercised). Plan provides that if optionee or any other person who acquires options by bequest or inheritance or by reason of his or her death proposes to sell, transfer, or otherwise dispose of shares acquired upon exercise, corporation shall have prior right to purchase all or any part of such shares at market price The Lima Arizona Amended and Restated Stock Option Plan of Continental Materials Corp. is a comprehensive equity compensation program designed to provide employees and key individuals with an opportunity to acquire and hold ownership in the company. This plan allows eligible participants to receive stock options, granting them the right to purchase a specified number of company shares at a predetermined price within a certain timeframe. The Lima Arizona Amended and Restated Stock Option Plan of Continental Materials Corp. aims to align the interests of employees with those of the company and to incentivize exceptional performance, commitment, and dedication. By offering stock options, the plan encourages employees to actively contribute to the long-term success and prosperity of Continental Materials Corp. Under this plan, participants may be granted different types of stock options, including: 1. Non-Qualified Stock Options: These options provide employees with the right to purchase company shares at a pre-established price, usually the fair market value at the time of grant. These options are subject to taxation on the difference between the exercise price and the fair market value of the shares at the time of exercise. 2. Incentive Stock Options (SOS): SOS are granted exclusively to employees and offer certain tax advantages compared to non-qualified stock options. If specific IRS requirements are met, employees can potentially enjoy long-term capital gains treatment on the appreciation of the stock price when exercising and selling the shares. 3. Restricted Stock Units (RSS): RSS represent the right to receive shares of Continental Materials Corp.'s stock in the future, often subject to a vesting schedule. Once vested, the RSS convert into actual shares, offering participants the full benefits of stock ownership. 4. Performance Stock Units (Plus): Plus are stock units that grant participants the opportunity to receive shares based on the achievement of predefined performance goals or metrics. These goals may be related to financial performance, operational targets, or other relevant criteria. Plus incentivize participants to drive exceptional results in order to unlock the full potential of the stock compensation. The Lima Arizona Amended and Restated Stock Option Plan of Continental Materials Corp. is carefully designed to attract, retain, and motivate talented individuals while ensuring their interests are aligned with the success of the company. It serves as a vital tool for Continental Materials Corp. to incentivize and reward dedicated employees who play a significant role in the company's growth and development.

The Lima Arizona Amended and Restated Stock Option Plan of Continental Materials Corp. is a comprehensive equity compensation program designed to provide employees and key individuals with an opportunity to acquire and hold ownership in the company. This plan allows eligible participants to receive stock options, granting them the right to purchase a specified number of company shares at a predetermined price within a certain timeframe. The Lima Arizona Amended and Restated Stock Option Plan of Continental Materials Corp. aims to align the interests of employees with those of the company and to incentivize exceptional performance, commitment, and dedication. By offering stock options, the plan encourages employees to actively contribute to the long-term success and prosperity of Continental Materials Corp. Under this plan, participants may be granted different types of stock options, including: 1. Non-Qualified Stock Options: These options provide employees with the right to purchase company shares at a pre-established price, usually the fair market value at the time of grant. These options are subject to taxation on the difference between the exercise price and the fair market value of the shares at the time of exercise. 2. Incentive Stock Options (SOS): SOS are granted exclusively to employees and offer certain tax advantages compared to non-qualified stock options. If specific IRS requirements are met, employees can potentially enjoy long-term capital gains treatment on the appreciation of the stock price when exercising and selling the shares. 3. Restricted Stock Units (RSS): RSS represent the right to receive shares of Continental Materials Corp.'s stock in the future, often subject to a vesting schedule. Once vested, the RSS convert into actual shares, offering participants the full benefits of stock ownership. 4. Performance Stock Units (Plus): Plus are stock units that grant participants the opportunity to receive shares based on the achievement of predefined performance goals or metrics. These goals may be related to financial performance, operational targets, or other relevant criteria. Plus incentivize participants to drive exceptional results in order to unlock the full potential of the stock compensation. The Lima Arizona Amended and Restated Stock Option Plan of Continental Materials Corp. is carefully designed to attract, retain, and motivate talented individuals while ensuring their interests are aligned with the success of the company. It serves as a vital tool for Continental Materials Corp. to incentivize and reward dedicated employees who play a significant role in the company's growth and development.