Hillsborough Florida Eligible Directors' Stock Option Plan of Wyle Electronics

• Category: Corporations - Public - Stock Options
• State: Multi-State
• County: Hillsborough
• 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 The Hillsborough Florida Eligible Directors' Stock Option Plan of Kyle Electronics is a comprehensive compensation program specifically designed for members of the board of directors who reside in the Hillsborough County, Florida area. This incentive plan aims to reward eligible directors of Kyle Electronics with stock options in order to align their interests with those of the company and motivate them to contribute to its overall success. The Hillsborough Florida Eligible Directors' Stock Option Plan offers several types of stock options to eligible directors, including: 1. Non-Qualified Stock Options (Nests): These stock options allow directors to purchase company stock at a predetermined price, known as the exercise price, within a specified timeframe. Directors can exercise their options after a predetermined vesting period, providing them with the opportunity to profit from the appreciation in the company's stock price. 2. Incentive Stock Options (SOS): This type of stock option grants eligible directors the right to purchase company stock at a predetermined price, similar to Nests. However, SOS provide potential tax advantages to the directors if specific requirements set by the Internal Revenue Service (IRS) are met. 3. Restricted Stock Units (RSS): Unlike stock options, RSS represent units of company stock that are granted to eligible directors directly. These units do not have an exercise price, but rather, they come with a vesting schedule. Once the vesting requirements are met, directors receive the full value of the RSS in the form of company stock. 4. Performance Stock Units (Plus): Plus are also granted directly to eligible directors and, similar to RSS, they do not have an exercise price. The value of Plus is typically tied to specific performance metrics, such as revenue growth or shareholder return. Directors receive the allocated company stock once the performance criteria are achieved within a defined performance period. The Hillsborough Florida Eligible Directors' Stock Option Plan of Kyle Electronics is governed by specific rules and regulations, which are outlined in the plan's official documentation. This carefully structured compensation program aims to attract highly qualified directors, ensure transparency in stock-based compensation, and foster a strong relationship between the company and its board members. By offering various types of stock options, Kyle Electronics aims to provide eligible directors with an opportunity to share in the company's success while aligning their interests with the long-term goals of the organization.

The Hillsborough Florida Eligible Directors' Stock Option Plan of Kyle Electronics is a comprehensive compensation program specifically designed for members of the board of directors who reside in the Hillsborough County, Florida area. This incentive plan aims to reward eligible directors of Kyle Electronics with stock options in order to align their interests with those of the company and motivate them to contribute to its overall success. The Hillsborough Florida Eligible Directors' Stock Option Plan offers several types of stock options to eligible directors, including: 1. Non-Qualified Stock Options (Nests): These stock options allow directors to purchase company stock at a predetermined price, known as the exercise price, within a specified timeframe. Directors can exercise their options after a predetermined vesting period, providing them with the opportunity to profit from the appreciation in the company's stock price. 2. Incentive Stock Options (SOS): This type of stock option grants eligible directors the right to purchase company stock at a predetermined price, similar to Nests. However, SOS provide potential tax advantages to the directors if specific requirements set by the Internal Revenue Service (IRS) are met. 3. Restricted Stock Units (RSS): Unlike stock options, RSS represent units of company stock that are granted to eligible directors directly. These units do not have an exercise price, but rather, they come with a vesting schedule. Once the vesting requirements are met, directors receive the full value of the RSS in the form of company stock. 4. Performance Stock Units (Plus): Plus are also granted directly to eligible directors and, similar to RSS, they do not have an exercise price. The value of Plus is typically tied to specific performance metrics, such as revenue growth or shareholder return. Directors receive the allocated company stock once the performance criteria are achieved within a defined performance period. The Hillsborough Florida Eligible Directors' Stock Option Plan of Kyle Electronics is governed by specific rules and regulations, which are outlined in the plan's official documentation. This carefully structured compensation program aims to attract highly qualified directors, ensure transparency in stock-based compensation, and foster a strong relationship between the company and its board members. By offering various types of stock options, Kyle Electronics aims to provide eligible directors with an opportunity to share in the company's success while aligning their interests with the long-term goals of the organization.