This form is a Stock Option and Award Plan. The purpose of the plan is to secure for the stockholders the benefits of the incentive in stock ownership. The transactions are intended to comply with all applicable conditions of Rule 16b-3.
North Carolina Stock Option and Award Plan
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FAQ
Stock Awards means any rights granted by the Company to Executive with respect to the common stock of the Company, including, without limitation, stock options, stock appreciation rights, restricted stock, stock bonuses and restricted stock units.
An employee stock option is the right given to you by your employer to buy ("exercise") a certain number of shares of company stock at a pre-set price (the "grant," "strike" or "exercise" price) over a certain period of time (the "exercise period").
An award that gives you the ability to purchase shares of company stock at a specified price for a fixed period of time.
Stock options are usually granted for a specific period (option term) and must be exercised within that period. A common option term is 10 years, after which, the option expires. While time-based vesting remains popular, companies are increasingly granting equity that vests upon meeting certain performance criteria.
With a stock award, you receive the company's stocks as compensation. Depending on the type of stock, you may have to wait for a certain period before you can fully own it. A stock option, on the other hand, only gives you the right to buy the company's stocks in the future at a certain price.
Stock options are an employee benefit that grants employees the right to buy shares of the company at a set price after a certain period of time. Employees and employers agree ahead of time on how many shares they can purchase and how long the vesting period will be before they can buy the stock.
From the employee's standpoint, a stock option grant is an opportunity to purchase stock in the company for which they work. Typically, the grant price is set as the market price at the time the grant is offered.
Exercising a stock option means purchasing the issuer's common stock at the price set by the option (grant price), regardless of the stock's price at the time you exercise the option.
A Restricted Stock Award Share is a grant of company stock in which the recipient's rights in the stock are restricted until the shares vest (or lapse in restrictions). The restricted period is called a vesting period.
In a divorce, your spouse will have a 50% claim in the value of the company or any stock options you hold (assuming that the business was started during marriage and all of the stock was vested).
