The Oklahoma Amended and Restated Stock Option Plan of Continental Materials Corp. is a comprehensive and flexible compensation program designed to attract, motivate, and retain highly qualified employees. This plan allows eligible employees to acquire ownership stakes in the company through the granting of stock options. These options grant employees the right to purchase a specified number of shares of Continental Materials Corp. stock at a predetermined price within a specified time frame. Under this plan, there are various types of stock options available to employees, including nonqualified stock options and incentive stock options. The nonqualified stock options provide employees with the ability to purchase company stock at a price determined by the market value of the shares on the date of the grant. On the other hand, incentive stock options offer employees a more favorable tax treatment by allowing them to purchase company stock at a price equal to or greater than its fair market value on the grant date. The Oklahoma Amended and Restated Stock Option Plan of Continental Materials Corp. is governed by a set of rules and regulations, which are aimed at ensuring transparency, fairness, and compliance with applicable legal and regulatory requirements. These guidelines dictate the eligibility criteria, the timing and terms of option grants, and the exercise and termination of stock options. It is important to note that the Oklahoma Amended and Restated Stock Option Plan of Continental Materials Corp. not only serves as an incentive for employees but also aligns their interests with those of the company's shareholders. By providing employees with the opportunity to become shareholders, this plan fosters a sense of ownership and accountability, leading to enhanced productivity and loyalty. Overall, the Oklahoma Amended and Restated Stock Option Plan of Continental Materials Corp. is a valuable tool in attracting and retaining top talent by offering employees the chance to participate in the company's success and benefit from its future growth. This plan empowers employees to become long-term stakeholders, creating a win-win situation for both the employees and Continental Materials Corp.
Oklahoma Amended and Restated Stock Option Plan of Continental Materials Corp.
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Print. If you do not avail of a tender offer, this means that you wish to keep your shares. Just note that if the stock announced an intent to delist then availing of the tender offer or selling the shares in the market would be a better option.
The company announced that the legal process initiated by the Hamm family to take the 55-year-old company private "has come to a successful close" and that its stock would no longer trade publicly after Tuesday.
Continental Resources Inc. agreed to be purchased by its founder, Harold G. Hamm, in a $4.3 billion cash deal that would take the U.S. shale giant private. On October 17 Continental, based in Oklahoma City, concluded an agreement to be acquired by Omega Acquisition Inc., an entity owned by Hamm, for $74.28 per share.
Based on the shares outstanding as of Oct. 12, the tender offer would be for approximately 58 million shares of common stock, the Continental release on Oct. 17 said. The tender offer values Continental at roughly $27 billion.
As of pm (New York City time) on November 21, 2022, a total of 36,312,840 shares of Continental common stock were validly tendered and not validly withdrawn pursuant to the tender offer, representing approximately 62.5% of the outstanding shares of Continental common stock not already owned by the Hamm family.