Tarrant 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: Tarrant
• 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 Tarrant Texas Stock Option Plan of Hayes Wheels International, Inc. is a comprehensive program that allows employees to receive Incentive Stock Options (SOS) and Nonqualified Stock Options (SOS) as a part of their compensation package. This plan is designed to incentivize and reward employees for their contributions to the company's success. SOS are stock options that offer certain tax advantages to the employee. They are granted at a specified exercise price, which is typically the fair market value of the company's stock at the time of the grant. SOS have specific eligibility criteria and must be exercised within a defined time period. When sold, the resulting capital gains may be subject to favorable long-term capital gains tax rates. SOS, on the other hand, do not have the same tax advantages as SOS. They can be granted to a broader range of employees, including consultants and non-executive employees. SOS are taxed as ordinary income at the time of exercise, based on the difference between the exercise price and the fair market value of the stock. Hayes Wheels International, Inc. offers both SOS and SOS within their Tarrant Texas Stock Option Plan. By providing these options, the company aims to attract and retain talented individuals, motivate them to drive company performance and align their interests with the shareholders. It is important to note that the specific details and terms of the Tarrant Texas Stock Option Plan may vary based on the individual employee's position, performance, and the company's overall goals and strategies. Employees should refer to the plan documents and consult with a financial advisor to fully understand the benefits, exercise provisions, taxation, and any other relevant considerations associated with these stock options.

The Tarrant Texas Stock Option Plan of Hayes Wheels International, Inc. is a comprehensive program that allows employees to receive Incentive Stock Options (SOS) and Nonqualified Stock Options (SOS) as a part of their compensation package. This plan is designed to incentivize and reward employees for their contributions to the company's success. SOS are stock options that offer certain tax advantages to the employee. They are granted at a specified exercise price, which is typically the fair market value of the company's stock at the time of the grant. SOS have specific eligibility criteria and must be exercised within a defined time period. When sold, the resulting capital gains may be subject to favorable long-term capital gains tax rates. SOS, on the other hand, do not have the same tax advantages as SOS. They can be granted to a broader range of employees, including consultants and non-executive employees. SOS are taxed as ordinary income at the time of exercise, based on the difference between the exercise price and the fair market value of the stock. Hayes Wheels International, Inc. offers both SOS and SOS within their Tarrant Texas Stock Option Plan. By providing these options, the company aims to attract and retain talented individuals, motivate them to drive company performance and align their interests with the shareholders. It is important to note that the specific details and terms of the Tarrant Texas Stock Option Plan may vary based on the individual employee's position, performance, and the company's overall goals and strategies. Employees should refer to the plan documents and consult with a financial advisor to fully understand the benefits, exercise provisions, taxation, and any other relevant considerations associated with these stock options.