Instock, Under the stock plan, nonqualified stock options and restricted stock(each ,an "Award") may be granted to any regular salaried employee of the Company or a subsidiary of the Company who, in the sole opinion of the Compensation Committee, contributes significantly to the growth and success of the Company or a subsidiary. This includes employees who are members of the Board of Directors, but excludes directors who are not employees of the Company or any of its subsidiaries. Such eligible participants in the Stock Plan are referred to as "Eligible Employees."
The total number of shares of Common Stock available for issuance under the Stock Plan may not exceed two million shares, although no Eligible Employee may be granted an Award or Awards covering more than 300,000 shares of Common Stock in any calendar year. These stock thresholds are subject to adjustment in the event of a stock split, stock distribution or other capital event.
Shares available for an Award under the Stock Plan may be either authorized but unissued or reacquired shares of Common Stock. Shares subject to, but not issued under, an option which expires, terminates, is cancelled or forfeited for any reason under the Stock Plan and shares of restricted stock which have been forfeited before the grantee has received any benefit ownership (such as dividends) shall again become available for the granting of Awards under the Stock Plan.
I don't know of any specific contracts with Boeing/McDonnel Douglas. But I do know that Boeing/McDonnel accounted for 11% of 1997 consolidated net sales (Pratt & Whitney 25% and the U.S. Government 7%). CADE has a current contract to build two of the world's largest test facilities, with completion scheduled in 1998 for the GE 90 Engine Test Facility in Wales, and the Rolls Royce Trent 895 Engine Facility in Thailand.
I am not aware of any Stock buy back program in the works.
CADEs year 2000 goal of generating annual revenues in excess of $100 million is within sight.
I do believe that projections are still on track.
There Annual meeting of shareholders just happened May 5, 1998 it was in Michigan.
Hope some of this helps.
Joe |
