The Lockheed Corporation 1992 Employee Stock Option Program was proposed in the Board of Directors meeting held in March1992. The primary aim of this stock option program was for the benefit of the employees of the company.
As part of the incentive program Lockheed Corporation introduced the option of buying the stock options of the company at a subsidized price than that in the market. This step was mainly to encourage the employees from performing better. The Lockheed Corporation 1992 Employee Stock Option Program was modified significantly to bring in more benefits for the employees.
Some of the amendments were to remove provision of approval of the board of directors and also provide the option of vesting for the employees without a lock-in period. Apart from this the program was also amended to impose the restriction of any employee availing these stock option plan only once in a financial year.
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