Bexar Texas 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: Bexar
• 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 Bexar Texas Stock Option Plan of Hayes Wheels International, Inc. is a comprehensive program designed to offer employees the opportunity to acquire ownership in the company through the grant of Incentive Stock Options (SOS) and Nonqualified Stock Options (Nests). This plan serves as a valuable tool to incentivize and retain talented individuals within the organization. Under the Bexar Texas Stock Option Plan, two distinct types of stock options are provided: Incentive Stock Options and Nonqualified Stock Options. Incentive Stock Options are typically granted to key employees and carry certain tax advantages. These options provide the opportunity to purchase company stock at a predetermined price, known as the exercise price, within a specified timeframe. They are subject to certain requirements outlined in the Internal Revenue Code. On the other hand, Nonqualified Stock Options are more widely granted to employees at various levels within the company. Unlike Incentive Stock Options, Nests do not have the same tax advantages and are subject to regular income tax rates upon exercise. They also offer the opportunity to purchase company stock at the exercise price within a specified timeframe. The Bexar Texas Stock Option Plan is carefully administered by Hayes Wheels International, Inc. to ensure that grants are made in a fair and equitable manner. The plan may specify eligibility criteria such as length of employment or job classification to determine which employees may be eligible to participate in the program. Furthermore, the plan may outline vesting schedules, which determine when options can be exercised and stock ownership can be acquired. By offering both Incentive Stock Options and Nonqualified Stock Options, the Bexar Texas Stock Option Plan enables employees to share in the company's success while providing flexibility in terms of tax implications. This comprehensive plan aligns the interests of employees with those of the company, fostering a sense of ownership, motivation, and loyalty within the workforce.

The Bexar Texas Stock Option Plan of Hayes Wheels International, Inc. is a comprehensive program designed to offer employees the opportunity to acquire ownership in the company through the grant of Incentive Stock Options (SOS) and Nonqualified Stock Options (Nests). This plan serves as a valuable tool to incentivize and retain talented individuals within the organization. Under the Bexar Texas Stock Option Plan, two distinct types of stock options are provided: Incentive Stock Options and Nonqualified Stock Options. Incentive Stock Options are typically granted to key employees and carry certain tax advantages. These options provide the opportunity to purchase company stock at a predetermined price, known as the exercise price, within a specified timeframe. They are subject to certain requirements outlined in the Internal Revenue Code. On the other hand, Nonqualified Stock Options are more widely granted to employees at various levels within the company. Unlike Incentive Stock Options, Nests do not have the same tax advantages and are subject to regular income tax rates upon exercise. They also offer the opportunity to purchase company stock at the exercise price within a specified timeframe. The Bexar Texas Stock Option Plan is carefully administered by Hayes Wheels International, Inc. to ensure that grants are made in a fair and equitable manner. The plan may specify eligibility criteria such as length of employment or job classification to determine which employees may be eligible to participate in the program. Furthermore, the plan may outline vesting schedules, which determine when options can be exercised and stock ownership can be acquired. By offering both Incentive Stock Options and Nonqualified Stock Options, the Bexar Texas Stock Option Plan enables employees to share in the company's success while providing flexibility in terms of tax implications. This comprehensive plan aligns the interests of employees with those of the company, fostering a sense of ownership, motivation, and loyalty within the workforce.