New Jersey Stock Option Plan of Stewart Information Services Corp. for Region Managers

• Category: Corporations - Public - Stock Options
• State: Multi-State
• Control #: US-CC-18-365B
• Format: Word; Rich Text

Description

18-365B 18-365B . . . Stock Option Plan for Region Managers under which Compensation Committee may grant Incentive and Non-qualified Stock Options to full-time key employees who are employed at time of grant as Region Managers or equivalent position. In determining number of shares subject to an option granted in any given year to a particular Region Manager, Committee shall consider whether (a) pretax profits in Region Manager's territory have increased over prior year, (b) cash received by corporation from Region Manager's territory has increased over prior year, (c) percentage of claim dollars to revenues in Region Manager's territory has decreased over prior year, (d) delinquencies have decreased or maintained at zero level from prior year, (e) market share has increased in Region Manager's territory over prior year, (f) Region Manager has made efforts to expand territory through expansion of markets and/or sale of new products, (g) Region Manager's territory complies with corporation policy relating to agency visits, audits, automation, training, and benefit participation, and (h) Region Manager incorporates corporation's goals and strategies into goals for his territory

The New Jersey Stock Option Plan of Stewart Information Services Corp. for Region Managers is an attractive employee benefit that provides region managers with the opportunity to purchase company stock at a predetermined price within a specific time frame. This plan is designed to motivate and reward region managers for their hard work, dedication, and commitment to the company's success. By offering stock options, Stewart Information Services Corp. aims to align the interests of region managers with the company's long-term growth and profitability. Under this plan, region managers in New Jersey receive a specific number of stock options based on their performance, position, and tenure with the company. These stock options grant them the right to purchase company stock at a set price, known as the exercise price or strike price. The strike price is determined at the time the stock options are granted and is typically lower than the current market price, providing region managers with an opportunity for potential financial gain. The New Jersey Stock Option Plan for Region Managers is subject to certain vesting criteria, which means that region managers need to fulfill specific conditions, such as achieving performance goals or remaining with the company for a predetermined period, to exercise their stock options fully. Vesting periods can vary depending on the specific plan and are generally structured over several years to incentivize region managers to stay with the company for the long term. Once the stock options are vested, region managers have the choice to exercise their options by purchasing company stock at the predetermined strike price. They can then hold onto the stock or sell it on the open market, potentially reaping any gains from the difference between the strike price and the current market price. This allows region managers to benefit from the company's success and share in its growth. There may be different variations or types of the New Jersey Stock Option Plan of Stewart Information Services Corp. for Region Managers, such as incentive stock options (SOS) or non-qualified stock options (SOS). SOS provide certain tax advantages if certain requirements are met, such as holding the stock for a specific period before selling it. SOS, on the other hand, do not enjoy the same tax benefits but offer more flexibility in terms of eligibility and usage. In conclusion, the New Jersey Stock Option Plan of Stewart Information Services Corp. for Region Managers is a valuable employee benefit that allows region managers to purchase company stock at a discounted price. By linking their success directly to the company's performance, this plan incentivizes region managers to contribute their best efforts towards the company's growth and success. The various types of stock options available further tailor the plan to meet the specific needs and preferences of region managers.