Kings New York 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: Kings
• 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 Kings New York Stock Option Plan of Hayes Wheels International, Inc. is a comprehensive program aimed at providing employees with the opportunity to acquire ownership in the company through stock options. This plan encompasses two types of stock options: Incentive Stock Options (SOS) and Nonqualified Stock Options (SOS). Incentive Stock Options, also known as statutory stock options, are typically granted to key employees and provide them with certain tax advantages. These options are subject to specific requirements set forth in the Internal Revenue Code (IRC). To qualify for SOS, employees must meet various eligibility criteria, such as being employed by the company for a certain duration and remaining employed for a particular period following the issuance of the options. SOS generally have a favorable tax treatment, as they may be eligible for long-term capital gains tax rates upon exercise and sale. On the other hand, Nonqualified Stock Options are not subject to the strict tax rules applicable to SOS. These options are often granted to a broader range of employees, including consultants and non-executive staff. While SOS do not enjoy the same tax benefits as SOS, they offer more flexibility in terms of plan design and are not subject to the same limitations on grant size or exercise price. The Kings New York Stock Option Plan of Hayes Wheels International, Inc. ensures that employees are provided with a fair and equitable opportunity to participate in the company's growth and success. By granting stock options, the plan promotes long-term employee retention, incentivizes exceptional performance, and aligns the interests of employees with those of the company's shareholders. The plan offers both SOS and SOS to cater to the diverse needs and requirements of employees at different levels within the organization. This flexibility allows for a more inclusive approach, ensuring that various employees can benefit from the stock option program. The plan's design and implementation adhere to relevant legal and regulatory guidelines, providing a clear framework for the issuance, exercise, and potential sale of stock options. Overall, the Kings New York Stock Option Plan of Hayes Wheels International, Inc. is a comprehensive and well-structured program aimed at fostering employee ownership, motivation, and alignment with the company's long-term goals.

The Kings New York Stock Option Plan of Hayes Wheels International, Inc. is a comprehensive program aimed at providing employees with the opportunity to acquire ownership in the company through stock options. This plan encompasses two types of stock options: Incentive Stock Options (SOS) and Nonqualified Stock Options (SOS). Incentive Stock Options, also known as statutory stock options, are typically granted to key employees and provide them with certain tax advantages. These options are subject to specific requirements set forth in the Internal Revenue Code (IRC). To qualify for SOS, employees must meet various eligibility criteria, such as being employed by the company for a certain duration and remaining employed for a particular period following the issuance of the options. SOS generally have a favorable tax treatment, as they may be eligible for long-term capital gains tax rates upon exercise and sale. On the other hand, Nonqualified Stock Options are not subject to the strict tax rules applicable to SOS. These options are often granted to a broader range of employees, including consultants and non-executive staff. While SOS do not enjoy the same tax benefits as SOS, they offer more flexibility in terms of plan design and are not subject to the same limitations on grant size or exercise price. The Kings New York Stock Option Plan of Hayes Wheels International, Inc. ensures that employees are provided with a fair and equitable opportunity to participate in the company's growth and success. By granting stock options, the plan promotes long-term employee retention, incentivizes exceptional performance, and aligns the interests of employees with those of the company's shareholders. The plan offers both SOS and SOS to cater to the diverse needs and requirements of employees at different levels within the organization. This flexibility allows for a more inclusive approach, ensuring that various employees can benefit from the stock option program. The plan's design and implementation adhere to relevant legal and regulatory guidelines, providing a clear framework for the issuance, exercise, and potential sale of stock options. Overall, the Kings New York Stock Option Plan of Hayes Wheels International, Inc. is a comprehensive and well-structured program aimed at fostering employee ownership, motivation, and alignment with the company's long-term goals.