The Illinois Amended and Restated Stock Option Plan of L. Luria and Son, Inc. is a comprehensive program designed to provide employees with a means to acquire and own company stock. This plan is meticulously crafted to align the interests of employees and shareholders, promoting a sense of ownership and dedication. Keywords: Illinois, Amended and Restated Stock Option Plan, L. Luria and Son, Inc., employees, company stock, shareholders, ownership, dedication. Under the Illinois Amended and Restated Stock Option Plan of L. Luria and Son, Inc., there are several types of stock option grants available. These options cater to various employees' needs, ensuring a fair and equitable distribution of ownership. 1. Non-Qualified Stock Options: Non-qualified stock options are a popular choice within the Illinois Amended and Restated Stock Option Plan. These options offer employees the ability to purchase company stock at a predetermined price, often at a discount, within a specified time frame. Non-qualified stock options provide flexibility and are available to all employees, irrespective of their position or length of service. 2. Incentive Stock Options: Incentive stock options are another type of grant offered within the Illinois Amended and Restated Stock Option Plan. These options carry specific tax advantages and are typically granted to key employees or executives to incentivize long-term commitment and performance. Incentive stock options encourage employee loyalty and align their interests with the company's long-term growth. 3. Restricted Stock Units (RSS): Restricted Stock Units are an additional feature of the Illinois Amended and Restated Stock Option Plan. RSS grant employees the right to receive company shares at a future date. These units act as an enticing retention tool, motivating employees to stay with the company for a specified period to receive the full benefits of ownership. RSS often vest over time, further cementing a sense of loyalty. 4. Performance Stock Units (Plus): The Illinois Amended and Restated Stock Option Plan may also include Performance Stock Units. Plus are granted based on specific performance metrics determined by the company. These units motivate employees by linking their compensation directly to the company's performance. This encourages employees to focus on achieving key targets and driving the company's growth. 5. Stock Appreciation Rights (SARS): Stock Appreciation Rights are an alternative to stock options available under the Illinois Amended and Restated Stock Option Plan. SARS grant employees the right to receive cash or company stock equal to the difference between the current market price and the grant price. This allows employees to benefit from the increasing value of the company's stock without needing to purchase shares outright. In summary, the Illinois Amended and Restated Stock Option Plan of L. Luria and Son, Inc. encompasses several types of stock option grants, including non-qualified stock options, incentive stock options, restricted stock units, performance stock units, and stock appreciation rights. These grants ensure a well-rounded program that fosters employee ownership, loyalty, and dedication while aligning the interests of employees and shareholders.
Illinois Amended and Restated Stock Option Plan of L. Luria and Son, Inc.
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