Allegheny Pennsylvania Stock Option Plan of Hayes Wheels International, Inc., which provides for grant of Incentive Stock Options and Nonqualified Stock Options

• Category: Corporations - Public - Stock Options
• State: Multi-State
• County: Allegheny
• Control #: US-CC-18-345E
• Format: Word; Rich Text

Description

18-345E 18-345E . . . Stock Option Plan which provides for grant of Incentive Stock Options and Non-qualified Stock Options and (b) initial option grants to certain named officers, employees and consultants which contain specific Time Conditions and Performance Conditions as follows: number of shares underlying each option grant is divided into five equal portions which are designated Tranche A through Tranche E. Twenty percent of shares included in each of Tranches A through E shall satisfy Time Condition if optionee is employee or consultant on January 31, 1997 and on each January 31 thereafter. One hundred percent of shares included in each of Tranches A through E satisfy Performance Condition if average per share price of common stock for any consecutive twenty trading days on principal exchange on which common stock is traded equals or exceeds following prices: Tranche A - $16 per share, Tranche B - $32 per share, Tranche C - $48 per share, Tranche D - $64 per share, Tranche E - $80 per share. Notwithstanding above, Initial Grants become fully exercisable on ninth anniversary of date of grant The Allegheny Pennsylvania Stock Option Plan of Hayes Wheels International, Inc. is a comprehensive plan that offers employees the opportunity to acquire shares of stock of the company through two different types of stock options: Incentive Stock Options (SOS) and Nonqualified Stock Options (SOS). Incentive Stock Options are a type of stock option that provides certain tax advantages to employees. They are typically granted to employees as an incentive or reward for their efforts in contributing to the company's success. SOS are usually subject to specific conditions, such as a vesting period and exercise price requirements, which allow employees to purchase shares at a predetermined price, often lower than the current market value. The favorable tax treatment for SOS is contingent upon meeting certain holding period requirements. Nonqualified Stock Options, on the other hand, do not qualify for the same tax advantages as SOS. SOS, also known as nonstatutory stock options, are typically more flexible regarding eligibility requirements and can be granted to employees, directors, or consultants. SOS are subject to standard income tax regulations upon exercise, where the difference between the exercise price and the fair market value of the stock at the time of exercise is treated as ordinary income. The Allegheny Pennsylvania Stock Option Plan of Hayes Wheels International, Inc. allows eligible employees to be granted both types of stock options, providing them with the opportunity to participate in the company's growth and potentially benefit from increases in the stock's value. By offering a combination of SOS and SOS, the plan caters to different employee preferences and circumstances. This stock option plan of Hayes Wheels International, Inc. aims to align the interests of employees with those of the company's shareholders, fostering a sense of ownership and motivation among the workforce. It serves as a valuable tool for attracting, retaining, and incentivizing employees, as they have the opportunity to share in the company's success and potentially build wealth through stock ownership. Overall, the Allegheny Pennsylvania Stock Option Plan of Hayes Wheels International, Inc. is a comprehensive program that promotes employee ownership through the grant of Incentive Stock Options and Nonqualified Stock Options, allowing eligible individuals to acquire shares in the company, benefit from potential stock price appreciation, and align their interests with those of the company and its stakeholders.

The Allegheny Pennsylvania Stock Option Plan of Hayes Wheels International, Inc. is a comprehensive plan that offers employees the opportunity to acquire shares of stock of the company through two different types of stock options: Incentive Stock Options (SOS) and Nonqualified Stock Options (SOS). Incentive Stock Options are a type of stock option that provides certain tax advantages to employees. They are typically granted to employees as an incentive or reward for their efforts in contributing to the company's success. SOS are usually subject to specific conditions, such as a vesting period and exercise price requirements, which allow employees to purchase shares at a predetermined price, often lower than the current market value. The favorable tax treatment for SOS is contingent upon meeting certain holding period requirements. Nonqualified Stock Options, on the other hand, do not qualify for the same tax advantages as SOS. SOS, also known as nonstatutory stock options, are typically more flexible regarding eligibility requirements and can be granted to employees, directors, or consultants. SOS are subject to standard income tax regulations upon exercise, where the difference between the exercise price and the fair market value of the stock at the time of exercise is treated as ordinary income. The Allegheny Pennsylvania Stock Option Plan of Hayes Wheels International, Inc. allows eligible employees to be granted both types of stock options, providing them with the opportunity to participate in the company's growth and potentially benefit from increases in the stock's value. By offering a combination of SOS and SOS, the plan caters to different employee preferences and circumstances. This stock option plan of Hayes Wheels International, Inc. aims to align the interests of employees with those of the company's shareholders, fostering a sense of ownership and motivation among the workforce. It serves as a valuable tool for attracting, retaining, and incentivizing employees, as they have the opportunity to share in the company's success and potentially build wealth through stock ownership. Overall, the Allegheny Pennsylvania Stock Option Plan of Hayes Wheels International, Inc. is a comprehensive program that promotes employee ownership through the grant of Incentive Stock Options and Nonqualified Stock Options, allowing eligible individuals to acquire shares in the company, benefit from potential stock price appreciation, and align their interests with those of the company and its stakeholders.