SEC Filings

PRE 14A
RELIANCE STEEL & ALUMINUM CO filed this Form PRE 14A on 04/06/2001
Entire Document
 
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                         AMENDMENT OF STOCK OPTION PLAN
 
     Section 5 of the Reliance Steel & Aluminum Co. 1994 Incentive and
Non-Qualified Stock Option Plan (the "Plan") allows the Board of Directors to
grant options under the Plan to acquire up to 1,687,500 shares of the Company's
Common Stock. The Board of Directors believes it is in the best interest of the
Company and its shareholders to amend the Plan to authorize the Board of
Directors to grant options to acquire up to 2,500,000 shares of Common Stock to
officers and key employees of the Company in order for the Company to attract
and retain well-qualified employees. The Board of Directors has adopted the
following resolution to amend the Plan:
 
          "NOW, THEREFORE, IT IS HEREBY RESOLVED that Section 5 of the Plan
     be amended, subject to shareholder approval, to allow the Board of
     Directors to grant options to acquire up to 2,500,000 shares of the
     Company's Common Stock pursuant to the terms and conditions of the
     Plan."
 
     The Company is seeking shareholder approval of this resolution. If this
resolution is approved by the shareholders, the Company will register the
additional shares with the Securities and Exchange Commission and will apply to
have the additional shares listed on the New York Stock Exchange. The
affirmative vote of holders of a majority of the shares of the Company's Common
Stock represented and entitled to vote at the Annual Meeting is required to
approve this resolution. THE BOARD OF DIRECTORS RECOMMENDS THAT SHAREHOLDERS
VOTE FOR THE AMENDMENT OF THE INCENTIVE AND NON-QUALIFIED STOCK OPTION PLAN TO
INCREASE THE NUMBER OF SHARES AVAILABLE FOR THE GRANT OF OPTIONS.
 
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