Houston Texas Eligible Directors' Stock Option Plan of Wyle Electronics

• Category: Corporations - Public - Stock Options
• State: Multi-State
• City: Houston
• 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 Houston Texas Eligible Directors' Stock Option Plan of Kyle Electronics is a comprehensive program that allows eligible directors of the company to acquire stock options. These stock options provide directors with the opportunity to purchase a predetermined number of company shares at a specified price, usually within a designated time period. The plan is designed to incentivize and reward eligible directors for their contributions and commitment to the growth and success of Kyle Electronics. By granting stock options, the company aims to align the interests of its directors with those of its shareholders, fostering a sense of ownership and accountability. Under the Houston Texas Eligible Directors' Stock Option Plan, there may be different types of stock options available to directors. These types may include: 1. Non-Qualified Stock Options: These options are subject to income tax at the time of exercise and are typically granted at a price equal to the fair market value of the company's shares on the grant date. 2. Incentive Stock Options (SOS): SOS provide certain tax advantages but are subject to specific eligibility criteria and holding periods. Directors who meet these criteria can potentially benefit from favorable tax treatment upon exercise and sale of the acquired shares. 3. Performance-Based Stock Options: These options may be tied to predefined performance targets or milestones. Directors who achieve or exceed these targets can exercise their options and acquire shares accordingly. 4. Restricted Stock Units (RSS): While not technically options, RSS are another form of equity compensation that may be granted under the plan. RSS represents a right to receive company shares at a future date, typically upon meeting certain conditions, such as continued service or achieving specific performance goals. The Houston Texas Eligible Directors' Stock Option Plan underscores Kyle Electronics' commitment to attracting and retaining talented individuals to serve on its board of directors. This plan provides a valuable opportunity for directors to participate in the company's growth and success, while also aligning their interests with those of shareholders. By offering different types of stock options, the plan provides flexibility to cater to the unique circumstances and objectives of eligible directors.

The Houston Texas Eligible Directors' Stock Option Plan of Kyle Electronics is a comprehensive program that allows eligible directors of the company to acquire stock options. These stock options provide directors with the opportunity to purchase a predetermined number of company shares at a specified price, usually within a designated time period. The plan is designed to incentivize and reward eligible directors for their contributions and commitment to the growth and success of Kyle Electronics. By granting stock options, the company aims to align the interests of its directors with those of its shareholders, fostering a sense of ownership and accountability. Under the Houston Texas Eligible Directors' Stock Option Plan, there may be different types of stock options available to directors. These types may include: 1. Non-Qualified Stock Options: These options are subject to income tax at the time of exercise and are typically granted at a price equal to the fair market value of the company's shares on the grant date. 2. Incentive Stock Options (SOS): SOS provide certain tax advantages but are subject to specific eligibility criteria and holding periods. Directors who meet these criteria can potentially benefit from favorable tax treatment upon exercise and sale of the acquired shares. 3. Performance-Based Stock Options: These options may be tied to predefined performance targets or milestones. Directors who achieve or exceed these targets can exercise their options and acquire shares accordingly. 4. Restricted Stock Units (RSS): While not technically options, RSS are another form of equity compensation that may be granted under the plan. RSS represents a right to receive company shares at a future date, typically upon meeting certain conditions, such as continued service or achieving specific performance goals. The Houston Texas Eligible Directors' Stock Option Plan underscores Kyle Electronics' commitment to attracting and retaining talented individuals to serve on its board of directors. This plan provides a valuable opportunity for directors to participate in the company's growth and success, while also aligning their interests with those of shareholders. By offering different types of stock options, the plan provides flexibility to cater to the unique circumstances and objectives of eligible directors.