Stock Option Plans

Statute: § 551.23(18), Wis. Stats.

Administrative Code: § DFI-Sec 2.02(9)(f), Wis. Adm. Code.

Used for: Offers or sales of securities to the employees or agents of the issuer or its subsidiaries pursuant to a stock option plan that does not qualify for the self-executing exemption set forth at § DFI-Sec 2.02(9)(m), Wis. Adm. Code.

Note: If the securities to be issued upon exercise of the options qualify for a separate registration exemption or otherwise are not subject to registration, no filing is required under this section.

Filing requirement:

Notice Filing, as set forth at § DFI-Sec 2.03, Wis. Adm. Code.

• Filing fee: $200, as set forth at § DFI-Sec 7.01(2)(b), Wis. Adm. Code made payable to Wisconsin DFI-Division of Securities.
• Form required: There is no required form. File a cover letter (and the fee) at least ten days prior to the offering in this state, referencing the statute or rule section under which the notice is filed.
• Exhibits required: A copy of the prospectus, offering document, all other material to be delivered to offerees in connection with the transaction, and all other information the Division may require after the filing. If advertising is published or circulated in connection with the transactions or the securities underlying the transactions for which this exemption is claimed, it must be filed with the Division and may not be used unless and until the Division has allowed its use, unless exempt from this requirement under § DFI-Sec 7.02(1), Wis. Adm. Code.
• Review time: Ten calendar days, unless extended pursuant to § DFI-Sec 2.03(2), Wis. Adm. Code.