Here's a summary of the differences between Restricted Stock
Awards/Units versus Stock Options. Click Print for a printout
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Terms
RSAs/RSUs
Stock Options
Grant Date The date on which your RSAs/RSUs are awarded to you. The date on which your options are awarded to you.
Vest Date The date on which shares can be sold or transferred according to the stock plan. Also referred to as Lapse Date. The date when options from a grant become eligible for exercise. 
Expiration Date No expiration date on RSAs/RSUs. 
The expiration date is the last day that a stock option can be exercised or converted to the underlying security as per the terms of your grant and may change based on your employment status. If this date falls on a weekend or holiday, you may be required to exercise your options by the close of the market on the business day before the expiration date. You should check your company’s plan documents for more specific information. If the stock option is not exercised by the expiration date, it is worthless and is no longer exercisable.
Exercise No exercise required with an RSA/RSU. Generally, RSUs are automatically converted to stock at vest. The election to purchase the underlying shares under the terms of the option grant.
Value

A vested RSA/RSU share has value whether the stock price increases, remains flat or decreases from grant date.

 The difference between the stock price on the date of exercise and the grant price.
Tax Consequences
(Note: UBS Financial Services Inc. does not provide tax advice.  Participants should consult their tax advisors regarding regarding their specific situations.) 		 Tax withholding usually occurs at the time your shares vest and you will be assessed ordinary income tax based on the value of the underlying stock at the time of vesting. When you exercise nonqualified options, you will be taxed on the difference between the fair market value on the date of exercise and grant price.