The Puerto Rico Amended and Restated Stock Option Plan of L. Luria and Son, Inc., is a comprehensive employee stock option plan that has been modified and updated to meet the specific requirements of Puerto Rico law. The plan is designed to provide employees of L. Luria and Son, Inc., a leading Puerto Rico-based company, with the opportunity to purchase company stock at a predetermined price within a specified period. The primary objective of the Puerto Rico Amended and Restated Stock Option Plan is to incentivize and reward employees for their hard work, dedication, and contribution to the company's success. By offering stock options, L. Luria and Son, Inc., aims to align the interests of its employees with the company's long-term growth and shareholder value. The plan may include various types of stock options, each serving a distinct purpose. These may include: 1. Non-Qualified Stock Options: These options provide employees the ability to purchase company stock at a predetermined price, typically lower than the current market value. Employees have the flexibility to exercise these options at their discretion, even before certain vesting requirements are met. However, taxation may occur upon exercise. 2. Incentive Stock Options: Unlike non-qualified stock options, incentive stock options offer potential tax advantages for employees. If specific requirements are met, employees may be eligible for long-term capital gains tax rates upon the sale of the acquired stock. 3. Restricted Stock Units: Rather than granting employees an option to purchase stock, the plan may also include restricted stock units (RSS). RSS represents a promise to deliver company stock in the future, subject to certain vesting conditions. Once the RSS vest, employees receive the actual shares of stock. 4. Performance-Based Stock Options: This type of stock option is tied to the achievement of specific performance goals or milestones. Employees are granted the right to purchase company stock when predetermined targets are met or exceeded. Performance-based stock options can provide additional motivation for employees to drive company growth and performance. It is important to note that each type of stock option within the Puerto Rico Amended and Restated Stock Option Plan of L. Luria and Son, Inc., may have different terms, conditions, and taxation implications. Employees participating in the plan should carefully review all plan documents, consult with financial advisors, and fully understand the specific provisions and potential benefits associated with their stock options.
Puerto Rico Amended and Restated Stock Option Plan of L. Luria and Son, Inc.
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