Cook Illinois 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: Cook
• 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 Cook Illinois Stock Option Plan is a comprehensive employee benefit program offered by Hayes Wheels International, Inc. This plan provides eligible employees with the opportunity to receive grants of Incentive Stock Options (SOS) and Nonqualified Stock Options (Nests) as a form of additional compensation. Under this plan, employees are granted the opportunity to purchase company stock at a predetermined price, known as the exercise price. The stock options are typically subject to a vesting schedule, which means employees must remain with the company for a specific period of time before they can exercise their options and acquire the underlying shares of stock. Incentive Stock Options (SOS) are one type of stock option available under the Cook Illinois Stock Option Plan. These options carry certain tax advantages for employees, as the gains from ISO exercises may qualify for favorable tax treatment if certain holding requirements are met. SOS are typically granted to key employees and incentivize long-term commitment and performance. Nonqualified Stock Options (Nests) are another type of stock option offered through the plan. Unlike SOS, Nests do not have the same tax advantages but still offer valuable opportunities for employees to purchase company stock. Nests are often granted to a broader range of employees, including non-executive personnel. The Cook Illinois Stock Option Plan is designed to align the interests of employees with those of the company's shareholders. By offering stock options, Hayes Wheels International, Inc. aims to motivate and reward employees for their contributions to the company's success. It provides employees with the potential to share in the company's growth and value appreciation while fostering a sense of ownership and commitment. Overall, the Cook Illinois Stock Option Plan of Hayes Wheels International, Inc. presents a valuable opportunity for eligible employees to participate in the company's continued success through the grant of Incentive Stock Options and Nonqualified Stock Options. This employee benefit program enables individuals to acquire company stock and potentially benefit from its future growth and performance.

The Cook Illinois Stock Option Plan is a comprehensive employee benefit program offered by Hayes Wheels International, Inc. This plan provides eligible employees with the opportunity to receive grants of Incentive Stock Options (SOS) and Nonqualified Stock Options (Nests) as a form of additional compensation. Under this plan, employees are granted the opportunity to purchase company stock at a predetermined price, known as the exercise price. The stock options are typically subject to a vesting schedule, which means employees must remain with the company for a specific period of time before they can exercise their options and acquire the underlying shares of stock. Incentive Stock Options (SOS) are one type of stock option available under the Cook Illinois Stock Option Plan. These options carry certain tax advantages for employees, as the gains from ISO exercises may qualify for favorable tax treatment if certain holding requirements are met. SOS are typically granted to key employees and incentivize long-term commitment and performance. Nonqualified Stock Options (Nests) are another type of stock option offered through the plan. Unlike SOS, Nests do not have the same tax advantages but still offer valuable opportunities for employees to purchase company stock. Nests are often granted to a broader range of employees, including non-executive personnel. The Cook Illinois Stock Option Plan is designed to align the interests of employees with those of the company's shareholders. By offering stock options, Hayes Wheels International, Inc. aims to motivate and reward employees for their contributions to the company's success. It provides employees with the potential to share in the company's growth and value appreciation while fostering a sense of ownership and commitment. Overall, the Cook Illinois Stock Option Plan of Hayes Wheels International, Inc. presents a valuable opportunity for eligible employees to participate in the company's continued success through the grant of Incentive Stock Options and Nonqualified Stock Options. This employee benefit program enables individuals to acquire company stock and potentially benefit from its future growth and performance.