Hennepin Minnesota Eligible Directors' Stock Option Plan of Wyle Electronics

• Category: Corporations - Public - Stock Options
• State: Multi-State
• County: Hennepin
• 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 Hennepin Minnesota Eligible Directors' Stock Option Plan is a program implemented by Kyle Electronics to provide eligible directors with the opportunity to purchase company stocks at a predetermined price within a specified period. This plan aims to align the interests of directors with those of shareholders, incentivize performance, and retain highly qualified individuals on the board. Under the Hennepin Minnesota Eligible Directors' Stock Option Plan, there are different types of stock options available to eligible directors. These may include: 1. Non-Qualified Stock Options: These options do not meet specific tax requirements, but they offer flexibility in terms of exercise price and grant dates. Non-qualified stock options may be granted to directors at any time and are subject to ordinary income tax rates upon exercise. 2. Incentive Stock Options: These options qualify for certain tax advantages under the Internal Revenue Code. Directors granted incentive stock options may enjoy favorable tax treatment if certain holding periods and other requirements are met. The exercise price must be at least equal to the fair market value of the stock on the grant date. 3. Restricted Stock Units (RSS): RSS represent a promise to deliver shares of stock at a future date, subject to certain vesting conditions. Directors receiving RSS do not have the right to vote or receive dividends until the units are settled. RSS may vest over a specified period or be tied to the achievement of predetermined performance goals. 4. Performance-Based Stock Options: These options are granted to directors based on predefined performance metrics and goals. Performance-based stock options incentivize directors to enhance the company's financial performance and shareholder value. The exercise price for these options may be determined based on the attainment of specific targets. The Hennepin Minnesota Eligible Directors' Stock Option Plan emphasizes transparency, fairness, and governance. It sets guidelines for granting options, including the number of shares, exercise price, vesting periods, and any limitations on exercise or transferability. To participate in the plan, eligible directors must be appointed or elected as board members and meet specific qualifications defined by Kyle Electronics and applicable laws. The plan also outlines provisions for acceleration of vesting upon a change of control, termination, or retirement. Overall, the Hennepin Minnesota Eligible Directors' Stock Option Plan is designed to attract and retain experienced directors, align their interests with shareholders, and motivate them to contribute to the long-term success of Kyle Electronics.

Hennepin Minnesota Eligible Directors' Stock Option Plan is a program implemented by Kyle Electronics to provide eligible directors with the opportunity to purchase company stocks at a predetermined price within a specified period. This plan aims to align the interests of directors with those of shareholders, incentivize performance, and retain highly qualified individuals on the board. Under the Hennepin Minnesota Eligible Directors' Stock Option Plan, there are different types of stock options available to eligible directors. These may include: 1. Non-Qualified Stock Options: These options do not meet specific tax requirements, but they offer flexibility in terms of exercise price and grant dates. Non-qualified stock options may be granted to directors at any time and are subject to ordinary income tax rates upon exercise. 2. Incentive Stock Options: These options qualify for certain tax advantages under the Internal Revenue Code. Directors granted incentive stock options may enjoy favorable tax treatment if certain holding periods and other requirements are met. The exercise price must be at least equal to the fair market value of the stock on the grant date. 3. Restricted Stock Units (RSS): RSS represent a promise to deliver shares of stock at a future date, subject to certain vesting conditions. Directors receiving RSS do not have the right to vote or receive dividends until the units are settled. RSS may vest over a specified period or be tied to the achievement of predetermined performance goals. 4. Performance-Based Stock Options: These options are granted to directors based on predefined performance metrics and goals. Performance-based stock options incentivize directors to enhance the company's financial performance and shareholder value. The exercise price for these options may be determined based on the attainment of specific targets. The Hennepin Minnesota Eligible Directors' Stock Option Plan emphasizes transparency, fairness, and governance. It sets guidelines for granting options, including the number of shares, exercise price, vesting periods, and any limitations on exercise or transferability. To participate in the plan, eligible directors must be appointed or elected as board members and meet specific qualifications defined by Kyle Electronics and applicable laws. The plan also outlines provisions for acceleration of vesting upon a change of control, termination, or retirement. Overall, the Hennepin Minnesota Eligible Directors' Stock Option Plan is designed to attract and retain experienced directors, align their interests with shareholders, and motivate them to contribute to the long-term success of Kyle Electronics.