Franklin Ohio Stock Option Plan - Permits Optionees to Transfer Stock Options to Family Members or Other Persons for Estate Planning Purposes

• Category: Corporations - Public - Stock Options
• State: Multi-State
• County: Franklin
• Control #: US-CC-18-243
• Format: Word; Rich Text

Description

18-243 18-243 . . . Stock Option Plan which provides for grant of Incentive Stock Options or Non-qualified Stock Options. Plan permits optionees to transfer stock options to family members or other persons for estate planning purposes as permitted by August 15, 1996 amendment to Rule 16b-3 under Securities Exchange Act of 1934 The Franklin Ohio Stock Option Plan is a program that allows options the flexibility to transfer their stock options to family members or other individuals for the purpose of estate planning. This plan aims to provide individuals with the ability to manage their assets and ensure a smooth transfer of stock options to chosen beneficiaries in the event of their passing. Estate planning is a crucial aspect of one's financial strategy, and the Franklin Ohio Stock Option Plan acknowledges the importance of including stock options in this process. By allowing options to transfer their stock options, this plan extends the benefits of these assets beyond the original holder, opening up opportunities for future generations or designated beneficiaries. The Franklin Ohio Stock Option Plan offers various types of options for options to transfer. These options include: 1. Direct transfer to family members: Options can directly transfer their stock options to immediate family members, such as spouses, children, or grandchildren. This type of transfer ensures that stock options remain within the family circle, preserving wealth for future generations. 2. Transfer to other designated individuals: The plan also permits options to transfer stock options to other persons, such as close friends, business partners, or trusted advisors. This flexibility allows options to consider individuals outside the immediate family who may have played a significant role in their lives or have a vested interest in their estates. 3. Transfer for charitable purposes: The Franklin Ohio Stock Option Plan may also allow options to transfer stock options to charitable organizations or foundations. This option enables options to support causes that align with their values, while potentially gaining tax benefits associated with charitable giving. 4. Restricted stock unit transfer: In addition to traditional stock options, some stock option plans may also include restricted stock units (RSS). RSS is another form of equity compensation, and the Franklin Ohio Stock Option Plan may allow options to transfer RSS to family members or other designated individuals for estate planning purposes. The Franklin Ohio Stock Option Plan recognizes the importance of comprehensive estate planning and provides options with the flexibility to transfer their stock options to various beneficiaries. By offering different types of transfers to family members, other individuals, or charitable organizations, this plan ensures that options have the ability to reassign their assets in an organized and strategic manner that aligns with their estate planning goals.

The Franklin Ohio Stock Option Plan is a program that allows options the flexibility to transfer their stock options to family members or other individuals for the purpose of estate planning. This plan aims to provide individuals with the ability to manage their assets and ensure a smooth transfer of stock options to chosen beneficiaries in the event of their passing. Estate planning is a crucial aspect of one's financial strategy, and the Franklin Ohio Stock Option Plan acknowledges the importance of including stock options in this process. By allowing options to transfer their stock options, this plan extends the benefits of these assets beyond the original holder, opening up opportunities for future generations or designated beneficiaries. The Franklin Ohio Stock Option Plan offers various types of options for options to transfer. These options include: 1. Direct transfer to family members: Options can directly transfer their stock options to immediate family members, such as spouses, children, or grandchildren. This type of transfer ensures that stock options remain within the family circle, preserving wealth for future generations. 2. Transfer to other designated individuals: The plan also permits options to transfer stock options to other persons, such as close friends, business partners, or trusted advisors. This flexibility allows options to consider individuals outside the immediate family who may have played a significant role in their lives or have a vested interest in their estates. 3. Transfer for charitable purposes: The Franklin Ohio Stock Option Plan may also allow options to transfer stock options to charitable organizations or foundations. This option enables options to support causes that align with their values, while potentially gaining tax benefits associated with charitable giving. 4. Restricted stock unit transfer: In addition to traditional stock options, some stock option plans may also include restricted stock units (RSS). RSS is another form of equity compensation, and the Franklin Ohio Stock Option Plan may allow options to transfer RSS to family members or other designated individuals for estate planning purposes. The Franklin Ohio Stock Option Plan recognizes the importance of comprehensive estate planning and provides options with the flexibility to transfer their stock options to various beneficiaries. By offering different types of transfers to family members, other individuals, or charitable organizations, this plan ensures that options have the ability to reassign their assets in an organized and strategic manner that aligns with their estate planning goals.