Fulton Georgia 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: Fulton
• 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 Fulton Georgia Stock Option Plan (FG SOP) is a comprehensive program established by Hayes Wheels International, Inc. to grant both Incentive Stock Options (SOS) and Nonqualified Stock Options (SOS) to its employees. This plan is designed to incentivize and reward employees by offering them the opportunity to purchase company stock at a predetermined price within a specified time frame. Under the FG SOP, employees are granted SOS, which are generally more beneficial from a tax perspective. SOS provide employees with the right to buy company stock at a discounted price, known as the exercise price or strike price. These options are usually subject to specific vesting periods, ensuring that employees have incentives to remain with the company for a certain duration. On the other hand, SOS are another type of stock option offered under the FG SOP. SOS are less restrictive than SOS and typically granted to a broader range of employees, including consultants and directors. Unlike SOS, SOS may have a higher exercise price, which is usually equal to the fair market value of the company stock at the time of grant. The taxation of SOS is subject to different rules compared to SOS. The FG SOP aims to attract and retain talented employees by providing them with an ownership stake in the company's success. By granting SOS and SOS, Hayes Wheels International, Inc. ensures that its employees have a vested interest in the company's performance, encouraging them to contribute to its growth and profitability. In summary, the Fulton Georgia Stock Option Plan (FG SOP) of Hayes Wheels International, Inc. encompasses both Incentive Stock Options (SOS) and Nonqualified Stock Options (SOS). SOS are designed to provide tax advantages to employees, while SOS offer more flexibility in terms of eligibility and exercise price. By incorporating these options into the FG SOP, Hayes Wheels International, Inc. aims to create a sense of ownership and motivation among its employees.

Fulton Georgia Stock Option Plan (FG SOP) is a comprehensive program established by Hayes Wheels International, Inc. to grant both Incentive Stock Options (SOS) and Nonqualified Stock Options (SOS) to its employees. This plan is designed to incentivize and reward employees by offering them the opportunity to purchase company stock at a predetermined price within a specified time frame. Under the FG SOP, employees are granted SOS, which are generally more beneficial from a tax perspective. SOS provide employees with the right to buy company stock at a discounted price, known as the exercise price or strike price. These options are usually subject to specific vesting periods, ensuring that employees have incentives to remain with the company for a certain duration. On the other hand, SOS are another type of stock option offered under the FG SOP. SOS are less restrictive than SOS and typically granted to a broader range of employees, including consultants and directors. Unlike SOS, SOS may have a higher exercise price, which is usually equal to the fair market value of the company stock at the time of grant. The taxation of SOS is subject to different rules compared to SOS. The FG SOP aims to attract and retain talented employees by providing them with an ownership stake in the company's success. By granting SOS and SOS, Hayes Wheels International, Inc. ensures that its employees have a vested interest in the company's performance, encouraging them to contribute to its growth and profitability. In summary, the Fulton Georgia Stock Option Plan (FG SOP) of Hayes Wheels International, Inc. encompasses both Incentive Stock Options (SOS) and Nonqualified Stock Options (SOS). SOS are designed to provide tax advantages to employees, while SOS offer more flexibility in terms of eligibility and exercise price. By incorporating these options into the FG SOP, Hayes Wheels International, Inc. aims to create a sense of ownership and motivation among its employees.