18-392G 18-392G . . . Performance Stock Option Award Agreement that is exercisable eight years after date of grant only if, during first year following date of grant, corporation's earnings per share is equal to or exceeds a target level established by Board of Directors for the initial period and during second year after date of grant, corporation's earnings per share is equal to or exceeds a target level to be established by Board of Directors for such subsequent period
Mississippi Performance Stock Option Award Agreement of Special Devices, Inc.
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FAQ
Once your options vest, you have the ability to exercise them. This means you can actually buy shares of company stock. Until you exercise, your options do not have any real value.
Generally speaking, when your restricted stock units vest, you gain full rights and ownership to the value of the units. Often, the value is transferred to you in the form of shares of company stock. However, it is possible that your company can settle the value of the units with cash.
For example, assume you have been granted 10,000 shares with a four-year vesting schedule of 2,500 shares at the end of each year. This means you have to stay for at least one full year in order to exercise the first 2,500 options and must stay to the end of the fourth year to be able to exercise all 10,000 options.
If you were granted stock options and have already exercised some or all of those vested options before your departure, you already own those shares?your company usually can't claim or repurchase them when you leave. However, you may want to check your grant to be sure.
An option award, or sometimes called a stock option award, is a legal agreement between a company and an employee that gives the employee stock options in the company as a form of compensation or bonus.