Wayne Michigan 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: Wayne
• 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 Wayne Michigan Stock Option Plan of Hayes Wheels International, Inc. is a comprehensive program designed to provide employees with the opportunity to acquire company stock through the grant of Incentive Stock Options (SOS) and Nonqualified Stock Options (SOS). This plan serves as a valuable tool for attracting and retaining top talent, as well as aligning employee interests with the long-term success of the company. Incentive Stock Options (SOS) under the Wayne Michigan Stock Option Plan are granted to employees, usually with specific eligibility requirements. These options carry tax advantages and are subject to certain restrictions imposed by the Internal Revenue Code. The grant of SOS allows employees to purchase company stock at a predetermined price, known as the exercise price, within a specified timeframe. As the stock value increases, employees can reap the benefits of the appreciation by exercising their SOS and selling the shares at a higher market price. Nonqualified Stock Options (SOS) are another component of the Wayne Michigan Stock Option Plan. Unlike SOS, SOS do not enjoy the same tax advantages. These options are generally more flexible in terms of eligibility criteria and allow employees to purchase company stock at a predetermined exercise price. Such options can be exercised at any time without needing to meet specific holding periods or comply with other restrictions imposed on SOS. SOS offer employees the potential for financial gain when the stock price increases, as they can exercise their options and sell the shares at a profit. The Wayne Michigan Stock Option Plan of Hayes Wheels International, Inc. recognizes the importance of providing employees with different types of stock options to suit their individual needs and circumstances. By offering both Incentive Stock Options (SOS) and Nonqualified Stock Options (SOS), the company demonstrates its commitment to fostering a motivating work environment and ensuring employees have the opportunity to share in the company's success.

The Wayne Michigan Stock Option Plan of Hayes Wheels International, Inc. is a comprehensive program designed to provide employees with the opportunity to acquire company stock through the grant of Incentive Stock Options (SOS) and Nonqualified Stock Options (SOS). This plan serves as a valuable tool for attracting and retaining top talent, as well as aligning employee interests with the long-term success of the company. Incentive Stock Options (SOS) under the Wayne Michigan Stock Option Plan are granted to employees, usually with specific eligibility requirements. These options carry tax advantages and are subject to certain restrictions imposed by the Internal Revenue Code. The grant of SOS allows employees to purchase company stock at a predetermined price, known as the exercise price, within a specified timeframe. As the stock value increases, employees can reap the benefits of the appreciation by exercising their SOS and selling the shares at a higher market price. Nonqualified Stock Options (SOS) are another component of the Wayne Michigan Stock Option Plan. Unlike SOS, SOS do not enjoy the same tax advantages. These options are generally more flexible in terms of eligibility criteria and allow employees to purchase company stock at a predetermined exercise price. Such options can be exercised at any time without needing to meet specific holding periods or comply with other restrictions imposed on SOS. SOS offer employees the potential for financial gain when the stock price increases, as they can exercise their options and sell the shares at a profit. The Wayne Michigan Stock Option Plan of Hayes Wheels International, Inc. recognizes the importance of providing employees with different types of stock options to suit their individual needs and circumstances. By offering both Incentive Stock Options (SOS) and Nonqualified Stock Options (SOS), the company demonstrates its commitment to fostering a motivating work environment and ensuring employees have the opportunity to share in the company's success.