Suffolk 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: Suffolk
• 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 Suffolk New York Stock Option Plan of Hayes Wheels International, Inc. is a comprehensive program designed to incentivize employees and key personnel through the granting of stock options. These stock options are classified into two types: Incentive Stock Options (SOS) and Nonqualified Stock Options (SOS). Incentive Stock Options (SOS) are a type of stock option granted exclusively to employees of Hayes Wheels International, Inc. Under this plan, employees have the opportunity to purchase company shares at a predetermined price, known as the exercise price. SOS have specific tax advantages as they may qualify for preferential tax treatments, such as avoiding immediate tax implications upon exercise. Employees who hold SOS are generally subject to certain requirements, including employee status and holding the stock for a prescribed holding period. On the other hand, the Nonqualified Stock Options (SOS) are stock options granted to individuals who are not necessarily employees of Hayes Wheels International, Inc. This plan may include consultants, contractors, and other external parties who contribute to the company's growth and success. SOS typically do not receive the favorable tax treatment that SOS do. Upon the exercise of SOS, the individual is subject to ordinary income tax on the difference between the exercise price and the fair market value of the company's shares at the time of exercise. The Suffolk New York Stock Option Plan of Hayes Wheels International, Inc. is a pivotal aspect of the company's compensation and retention strategy. By granting employees and key personnel stock options, it aims to align their interests with the long-term success of the company, encouraging dedication and commitment. The plan provides an opportunity for individuals to have a stake in the company's growth and potential financial gains. Overall, the Suffolk New York Stock Option Plan of Hayes Wheels International, Inc. encompasses two types of stock options: Incentive Stock Options (SOS) and Nonqualified Stock Options (SOS). Both options serve as valuable incentives for employees and non-employees alike, fostering a sense of ownership and motivation while aligning their interests with the company's overall success.

The Suffolk New York Stock Option Plan of Hayes Wheels International, Inc. is a comprehensive program designed to incentivize employees and key personnel through the granting of stock options. These stock options are classified into two types: Incentive Stock Options (SOS) and Nonqualified Stock Options (SOS). Incentive Stock Options (SOS) are a type of stock option granted exclusively to employees of Hayes Wheels International, Inc. Under this plan, employees have the opportunity to purchase company shares at a predetermined price, known as the exercise price. SOS have specific tax advantages as they may qualify for preferential tax treatments, such as avoiding immediate tax implications upon exercise. Employees who hold SOS are generally subject to certain requirements, including employee status and holding the stock for a prescribed holding period. On the other hand, the Nonqualified Stock Options (SOS) are stock options granted to individuals who are not necessarily employees of Hayes Wheels International, Inc. This plan may include consultants, contractors, and other external parties who contribute to the company's growth and success. SOS typically do not receive the favorable tax treatment that SOS do. Upon the exercise of SOS, the individual is subject to ordinary income tax on the difference between the exercise price and the fair market value of the company's shares at the time of exercise. The Suffolk New York Stock Option Plan of Hayes Wheels International, Inc. is a pivotal aspect of the company's compensation and retention strategy. By granting employees and key personnel stock options, it aims to align their interests with the long-term success of the company, encouraging dedication and commitment. The plan provides an opportunity for individuals to have a stake in the company's growth and potential financial gains. Overall, the Suffolk New York Stock Option Plan of Hayes Wheels International, Inc. encompasses two types of stock options: Incentive Stock Options (SOS) and Nonqualified Stock Options (SOS). Both options serve as valuable incentives for employees and non-employees alike, fostering a sense of ownership and motivation while aligning their interests with the company's overall success.