Travis 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: Travis
• 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 Travis Texas Stock Option Plan is a comprehensive program established by Hayes Wheels International, Inc. It aims to incentivize and reward employees through the grant of both Incentive Stock Options (SOS) and Nonqualified Stock Options (Nests). SOS, also known as statutory stock options, are granted under specific IRS regulations and provide certain tax advantages to the option holder. These options give employees the right to buy company stock at a predetermined price, known as the exercise or strike price. SOS are typically subject to specific vesting schedules and may only be exercised within a specified time frame after vesting. Nests, on the other hand, do not adhere to the same tax rules as SOS. They offer employees the opportunity to purchase company stock at a predetermined price but without the same tax advantages. Nests can be exercised immediately upon grant or following a certain vesting period, depending on the terms of the plan. The Travis Texas Stock Option Plan of Hayes Wheels International, Inc. covers various types of stock options, including SOS and Nests. These options are designed to motivate and retain talented employees by aligning their interests with the company's performance and growth. By granting stock options, Hayes Wheels International, Inc. aims to provide employees with a stake in the company's success, thus fostering a sense of ownership and commitment. The Travis Texas Stock Option Plan offers a range of benefits to eligible employees. These benefits can include the potential for financial gain through the purchase of company stock at a favorable price, potential tax advantages for ISO holders, and the opportunity to share in the company's success and overall growth. Eligibility criteria, grant amounts, exercise prices, and other terms of the plan may vary based on employee position, performance, or other factors determined by Hayes Wheels International, Inc. In summary, the Travis Texas Stock Option Plan of Hayes Wheels International, Inc. offers both Incentive Stock Options (SOS) and Nonqualified Stock Options (Nests) to eligible employees. These stock options provide opportunities for employees to benefit financially and align their interests with the company's performance. Grant amounts, exercise prices, and other terms may vary, and the plan aims to motivate and retain talented individuals within the organization.

The Travis Texas Stock Option Plan is a comprehensive program established by Hayes Wheels International, Inc. It aims to incentivize and reward employees through the grant of both Incentive Stock Options (SOS) and Nonqualified Stock Options (Nests). SOS, also known as statutory stock options, are granted under specific IRS regulations and provide certain tax advantages to the option holder. These options give employees the right to buy company stock at a predetermined price, known as the exercise or strike price. SOS are typically subject to specific vesting schedules and may only be exercised within a specified time frame after vesting. Nests, on the other hand, do not adhere to the same tax rules as SOS. They offer employees the opportunity to purchase company stock at a predetermined price but without the same tax advantages. Nests can be exercised immediately upon grant or following a certain vesting period, depending on the terms of the plan. The Travis Texas Stock Option Plan of Hayes Wheels International, Inc. covers various types of stock options, including SOS and Nests. These options are designed to motivate and retain talented employees by aligning their interests with the company's performance and growth. By granting stock options, Hayes Wheels International, Inc. aims to provide employees with a stake in the company's success, thus fostering a sense of ownership and commitment. The Travis Texas Stock Option Plan offers a range of benefits to eligible employees. These benefits can include the potential for financial gain through the purchase of company stock at a favorable price, potential tax advantages for ISO holders, and the opportunity to share in the company's success and overall growth. Eligibility criteria, grant amounts, exercise prices, and other terms of the plan may vary based on employee position, performance, or other factors determined by Hayes Wheels International, Inc. In summary, the Travis Texas Stock Option Plan of Hayes Wheels International, Inc. offers both Incentive Stock Options (SOS) and Nonqualified Stock Options (Nests) to eligible employees. These stock options provide opportunities for employees to benefit financially and align their interests with the company's performance. Grant amounts, exercise prices, and other terms may vary, and the plan aims to motivate and retain talented individuals within the organization.