Suffolk New York Stock Option Plan Stock Option Plan which provides for grant of Incentive Stock Options, Nonqualified Stock Options, and Exchange Options

• Category: Corporations - Public - Stock Options
• State: Multi-State
• County: Suffolk
• Control #: US-CC-18-219B
• Format: Word; Rich Text

Description

18-219B 18-219B . . . Stock Option Plan which provides for grant of Incentive Stock Options, (b) Non-qualified Stock Options, and (c) Exchange Options under which employees of the corporation or any of its subsidiaries can exchange (i) all of their options for shares of a subsidiary that were granted under that subsidiary's stock option plan and are outstanding as of the date of adoption of this Plan and all their awards under that subsidiary's Restricted Stock Plan for restricted shares of that subsidiary's stock that are outstanding as of the date of adoption of this Plan and receive therefor non-qualified options for shares under this Plan, (ii) all of their restricted shares of a subsidiary that were issued under the subsidiary's Performance Restricted Stock Plan and receive therefor non-qualified options for shares under this Plan, and (iii) all of their stock appreciation rights with respect to shares of a subsidiary that were granted under that subsidiary's Stock Appreciation Rights Plan and receive therefor non-qualified options for shares under this Plan The Suffolk New York Stock Option Plan is a comprehensive and flexible program designed to offer employees of Suffolk New York various types of stock options. By granting Incentive Stock Options (SOS), Nonqualified Stock Options (SOS), and Exchange Options, the company aims to provide its employees with attractive incentives and opportunities for financial growth. Incentive Stock Options (SOS) are one type of stock option available under the Suffolk New York Stock Option Plan. These options are typically offered to key employees and provide certain tax advantages. SOS allow employees to purchase company stock at a specified price (the exercise price) within a defined timeframe. This option can be exercised only if certain conditions, such as remaining with the company for a minimum period, are met. Nonqualified Stock Options (SOS) are another type of stock option offered. Unlike SOS, SOS do not have the same tax advantages; they are subject to ordinary income tax upon exercise. However, SOS offer greater flexibility in terms of eligibility criteria and can be granted to a wider range of employees, including consultants and contractors. Exchange Options, the third type of stock option offered under the Suffolk New York Stock Option Plan, provides employees with the ability to swap their existing stock options for new options. This exchange can be particularly useful if the initial option becomes less beneficial or if the employee wishes to make changes to their stock option portfolio. The Exchange Option allows for the adjustment of terms such as exercise price, number of shares, or expiration date, providing employees with added flexibility and customization of their stock options. By offering these different types of stock options, the Suffolk New York Stock Option Plan allows employees to tailor their investment strategy to their own financial goals and tax planning needs. This comprehensive plan enables employees to participate in the company's growth while aligning their personal financial success with the overall success of Suffolk New York.

The Suffolk New York Stock Option Plan is a comprehensive and flexible program designed to offer employees of Suffolk New York various types of stock options. By granting Incentive Stock Options (SOS), Nonqualified Stock Options (SOS), and Exchange Options, the company aims to provide its employees with attractive incentives and opportunities for financial growth. Incentive Stock Options (SOS) are one type of stock option available under the Suffolk New York Stock Option Plan. These options are typically offered to key employees and provide certain tax advantages. SOS allow employees to purchase company stock at a specified price (the exercise price) within a defined timeframe. This option can be exercised only if certain conditions, such as remaining with the company for a minimum period, are met. Nonqualified Stock Options (SOS) are another type of stock option offered. Unlike SOS, SOS do not have the same tax advantages; they are subject to ordinary income tax upon exercise. However, SOS offer greater flexibility in terms of eligibility criteria and can be granted to a wider range of employees, including consultants and contractors. Exchange Options, the third type of stock option offered under the Suffolk New York Stock Option Plan, provides employees with the ability to swap their existing stock options for new options. This exchange can be particularly useful if the initial option becomes less beneficial or if the employee wishes to make changes to their stock option portfolio. The Exchange Option allows for the adjustment of terms such as exercise price, number of shares, or expiration date, providing employees with added flexibility and customization of their stock options. By offering these different types of stock options, the Suffolk New York Stock Option Plan allows employees to tailor their investment strategy to their own financial goals and tax planning needs. This comprehensive plan enables employees to participate in the company's growth while aligning their personal financial success with the overall success of Suffolk New York.