Wisconsin Stock Plan of Programmer's Paradise, Inc.

• Category: Corporations - Public - Stock Options
• State: Multi-State
• Control #: US-CC-18-233
• Format: Word; Rich Text

Description

18-233 18-233 . . . Stock Option Plan which provides for grant of Incentive Stock Options to officers and employees, (b) Non-qualified Stock Options to directors, officers employees and consultants and (c) direct purchases of stock by directors, officers, employees and consultants

Wisconsin Stock Plan is an employee benefit program offered by Programmer's Paradise, Inc., a leading software development company based in Wisconsin. This stock plan provides eligible employees with the opportunity to purchase company stock at a discounted price, thereby encouraging their active participation and ownership in the organization's success. The Wisconsin Stock Plan is a key component of Programmer's Paradise's overall compensation and retention strategy, aiming to attract and retain talented programmers in a highly competitive market. By granting employees the ability to acquire company shares, the plan aligns their financial interests with the company's performance and long-term growth. Under this plan, employees are granted stock options or restricted stock units (RSS) based on their job level, performance, and years of service. Stock options provide the employee with the right to buy a specified number of company shares at a predetermined price (also known as the strike price) within a defined period. RSS, on the other hand, grant employees company stock upon vesting, which may occur over a predetermined period. The Wisconsin Stock Plan offers several unique features and benefits. Firstly, it allows employees to purchase stock at a discount to the market price, enabling them to potentially reap financial gains if the company's stock value appreciates over time. This feature acts as a strong motivator for employees to work diligently, contribute to the company's growth, and deliver results. Secondly, the plan typically includes a vesting schedule. Vesting ensures that employees have a specified waiting period before they can exercise their stock options or gain ownership of the RSS. This time-based vesting encourages retention, as it incentivizes employees to remain with the company to fully benefit from their allocated stock units. Furthermore, the Wisconsin Stock Plan may have specific provisions regarding the treatment of stock options or RSS in the event of an employee's termination, retirement, or disability. Such provisions ensure fairness and address scenarios where an employee's circumstances might change during their tenure. Lastly, there may be different types of Wisconsin Stock Plan offerings within Programmer's Paradise, Inc. These can include variations based on the employee's job level, tenure, or performance. For instance, employees in leadership positions or higher management may have access to more significant stock options or RSU grants compared to junior-level programmers. In conclusion, the Wisconsin Stock Plan of Programmer's Paradise, Inc. is an employee benefit program that grants eligible employees the opportunity to purchase discounted company stock. Through various stock option and RSU offerings, the plan incentivizes employee performance, promotes ownership mentality, and aligns their interests with the long-term success of the organization.