New Hampshire Eligible Directors' Stock Option Plan of Wyle Electronics

• Category: Corporations - Public - Stock Options
• State: Multi-State
• 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 New Hampshire Eligible Directors' Stock Option Plan of Kyle Electronics is a comprehensive compensation program aimed at rewarding eligible members of the board of directors with stock options. This plan is designed to incentivize directors to contribute their expertise and experience towards the company's success while aligning their interests with the shareholders. Under this plan, eligible directors of Kyle Electronics are granted the opportunity to purchase company stock options at a predetermined price during a specific period. These stock options provide the directors with the right to buy a specific number of shares at a fixed price, known as the exercise price, within a given timeframe. The New Hampshire Eligible Directors' Stock Option Plan allows directors to benefit from the potential appreciation of Kyle Electronics' stock over time. By offering stock options, the company provides an additional incentive for its directors to act in the best interest of the shareholders. The hope is that this program will motivate the directors to make strategic decisions, enhance corporate performance, and maximize shareholder value. There may be different types of stock option plans available under the New Hampshire Eligible Directors' Stock Option Plan of Kyle Electronics. These plans may include: 1. Non-Qualified Stock Options: These options provide directors with the flexibility to buy shares at the exercise price without any specific tax advantages. 2. Incentive Stock Options: These options, also known as qualified stock options, offer potential tax advantages to directors and are subject to specific IRS requirements. 3. Restricted Stock Units: Instead of stock options, directors may be granted restricted stock units that represent the right to receive shares of Kyle Electronics' stock at a future date, usually when certain vesting conditions are met. Each type of stock option plan may have its own specific terms, conditions, and limitations, which would be outlined in the relevant plan documents provided to the eligible directors. In summary, the New Hampshire Eligible Directors' Stock Option Plan of Kyle Electronics is a comprehensive compensation program that offers eligible directors stock options as a means of aligning their interests with the shareholders. These options provide directors with the opportunity to purchase company stock at a predetermined price, with the potential for future appreciation. The plan may include different types of stock option programs, each offering its own set of benefits and conditions.