Connecticut Stock Option Plan of Loewenstein Furniture Group, Inc. is an equity compensation program that provides employees of the company the opportunity to purchase company stock at a predetermined price, known as the exercise price, within a specified time period. This plan aims to incentivize employees by granting them the right to purchase company stocks, thereby allowing them to partake in the company's success and potentially benefit from any increase in stock value. The Connecticut Stock Option Plan of Loewenstein Furniture Group, Inc. consists of various types of stock options, including: 1. Non-Qualified Stock Options (SOS): These stock options are available to all employees and do not qualify for special tax treatment. SOS typically have a higher exercise price than the current market price of the company's stock at the time of the grant. 2. Incentive Stock Options (SOS): SOS are exclusively available to key employees and offer potentially favorable tax treatment. To qualify for SOS, employees must meet certain eligibility criteria, including being employed for a specified period and remaining with the company for a specified period after the grant. 3. Restricted Stock Units (RSS): RSS differ from stock options as they represent a promise to deliver company stock to the employee in the future, rather than the right to purchase at a specific price. RSS are subject to vesting conditions, and once vesting requirements are met, they are converted into shares of company stock. 4. Phantom Stock Options: Phantom stock options are a type of equity compensation plan that provides employees with a cash payment equivalent to the value of company stock. This payment is based on the increase in the company's stock price during a specified time period. Loewenstein Furniture Group, Inc.'s Connecticut Stock Option Plan is designed to align employee interests with the company's performance and long-term growth. By offering employees the chance to acquire company stock at a predetermined price, the plan encourages them to contribute their best efforts towards the company's success. This equity compensation program is a valuable tool for attracting, rewarding, and retaining talented employees within the organization.
Connecticut Stock Option Plan of Loewenstein Furniture Group, Inc.
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