Franklin Ohio Eligible Directors' Stock Option Plan of Wyle Electronics

• Category: Corporations - Public - Stock Options
• State: Multi-State
• County: Franklin
• Control #: US-CC-18-362C
• Format: Word; Rich Text

Description

18-362C 18-362C . . . Eligible Directors' Stock Option Plan under which (a) each outside director who was in office on October 1, 1996 was granted, subject to stockholder approval of Plan, option to purchase 4,000 shares of stock and each outside director who first takes office after October 1, 1996 will receive a one-time initial option to purchase 10,000 shares of stock, and (b) each outside director in office on October 1, 1996 will be granted an option on April 1 of each year commencing in 1997 to purchase 4,000 shares of stock provided he or she is in office on date of grant, and each outside director who takes office after October 1, 1996 will be granted an option on April 1 of each year to purchase 6,000 shares of stock provided he or she is in office on date of grant. Exercise price of all options is fair market value on date of grant. All options are exercisable six months after date of grant Franklin Ohio Eligible Directors' Stock Option Plan is a specific type of stock option plan offered by Kyle Electronics to its eligible directors residing in Franklin, Ohio. This plan aims to provide eligible directors with an opportunity to purchase company stocks at a predetermined price within a specified time period. Under this stock option plan, eligible directors are granted the option to purchase a specified number of company stocks at a predetermined exercise price. These options typically have a vesting period, after which the directors can exercise their options, allowing them to buy company shares at the agreed-upon price. This enables directors to potentially benefit from any increase in the company's stock price during the vesting period. The Franklin Ohio Eligible Directors' Stock Option Plan may include different types of stock options, such as: 1. Non-Qualified Stock Options (Nests): These are the most common type of stock options offered to eligible directors. Nests provide directors with the flexibility to purchase company stocks at a predetermined price, usually lower than the current market price. The difference between the exercise price and the market price at the time of exercise is subject to taxation. 2. Incentive Stock Options (SOS): SOS are another type of stock options that may be offered to eligible directors under the Franklin Ohio plan. SOS have specific tax advantages as they are subject to capital gains tax rates rather than ordinary income tax rates, if certain conditions are met. These options typically have additional eligibility criteria based on the director's employment status and the duration of the options. 3. Restricted Stock Units (RSS): In addition to stock options, Kyle Electronics' Franklin Ohio Eligible Directors' Stock Option Plan may also include the issuance of restricted stock units. RSS represents a promise to deliver company shares to the eligible directors upon meeting certain conditions, such as continued employment or the achievement of specific performance goals. Unlike stock options, RSS do not require a purchase of shares but rather provide future ownership of shares once the conditions are met. It is important for eligible directors participating in the Franklin Ohio Eligible Directors' Stock Option Plan to carefully review the terms and conditions of the plan, including vesting schedules, exercise periods, and tax implications. Seeking advice from a financial advisor or tax professional is highly recommended to make informed decisions regarding the utilization of stock options and RSS.

Franklin Ohio Eligible Directors' Stock Option Plan is a specific type of stock option plan offered by Kyle Electronics to its eligible directors residing in Franklin, Ohio. This plan aims to provide eligible directors with an opportunity to purchase company stocks at a predetermined price within a specified time period. Under this stock option plan, eligible directors are granted the option to purchase a specified number of company stocks at a predetermined exercise price. These options typically have a vesting period, after which the directors can exercise their options, allowing them to buy company shares at the agreed-upon price. This enables directors to potentially benefit from any increase in the company's stock price during the vesting period. The Franklin Ohio Eligible Directors' Stock Option Plan may include different types of stock options, such as: 1. Non-Qualified Stock Options (Nests): These are the most common type of stock options offered to eligible directors. Nests provide directors with the flexibility to purchase company stocks at a predetermined price, usually lower than the current market price. The difference between the exercise price and the market price at the time of exercise is subject to taxation. 2. Incentive Stock Options (SOS): SOS are another type of stock options that may be offered to eligible directors under the Franklin Ohio plan. SOS have specific tax advantages as they are subject to capital gains tax rates rather than ordinary income tax rates, if certain conditions are met. These options typically have additional eligibility criteria based on the director's employment status and the duration of the options. 3. Restricted Stock Units (RSS): In addition to stock options, Kyle Electronics' Franklin Ohio Eligible Directors' Stock Option Plan may also include the issuance of restricted stock units. RSS represents a promise to deliver company shares to the eligible directors upon meeting certain conditions, such as continued employment or the achievement of specific performance goals. Unlike stock options, RSS do not require a purchase of shares but rather provide future ownership of shares once the conditions are met. It is important for eligible directors participating in the Franklin Ohio Eligible Directors' Stock Option Plan to carefully review the terms and conditions of the plan, including vesting schedules, exercise periods, and tax implications. Seeking advice from a financial advisor or tax professional is highly recommended to make informed decisions regarding the utilization of stock options and RSS.