Alaska Nonemployee Directors Stock Option Plan of National Surgery Centers, Inc.

• Category: Corporations - Public - Stock Options
• State: Multi-State
• Control #: US-CC-18-185C
• Format: Word; Rich Text

Description

18-185C 18-185C . . . Non-employee Directors Stock Option Plan under which Class II Non-employee directors receive options for 5,000 shares, all fully vested; Class II Non-employee directors receive options for 7,500 shares, of which 5,000 are fully vested and 2,500 vest on date of 1997 annual stockholders meeting; and Class I Non-employee directors receive options for 10,000 shares, of which 5,000 are fully vested, 2,500 vest on date of 1997 annual stockholders meeting, and 2,500 vest on date of 1998 annual stockholders meeting. Thereafter, each Non-employee director automatically receives an option on his or her election or re-election as director. Each such option is for 7,500 shares if director is elected to full three year term, of which 2,500 is vested, 2,500 vests on first anniversary of grant, and 2,500 vests on second anniversary of grant. If director is elected to fill term of less than three years, number of shares is equal to 2,500 for each full year of his or her term

The Alaska Nonemployee Directors Stock Option Plan of National Surgery Centers, Inc. is a comprehensive program designed to incentivize and reward nonemployee directors who contribute to the success and growth of the company. This unique plan offers nonemployee directors the opportunity to acquire stock options, allowing them to participate in the financial success of National Surgery Centers, Inc. while aligning their interests with the shareholders. Under this plan, nonemployee directors are granted the right to purchase a specific number of shares of National Surgery Centers, Inc. stock at a predetermined price, known as the exercise price. These stock options typically vest over a specific period, motivating directors to remain actively engaged in the company's affairs and encouraging long-term commitment. The Alaska Nonemployee Directors Stock Option Plan recognizes the significant value that nonemployee directors bring to the table. These individuals possess diverse backgrounds, expertise, and a wealth of experience needed for effective corporate governance. By providing them with an opportunity to acquire stock options, National Surgery Centers, Inc. seeks to attract and retain top talent in its board, fostering their active involvement in strategic decision-making to drive the company's success. Possible types of Alaska Nonemployee Directors Stock Option Plans provided by National Surgery Centers, Inc. may include: 1. Standard Stock Option Plan: This plan grants nonemployee directors the right to purchase a fixed number of shares at a predetermined exercise price, usually vesting over a period of time. This allows directors to share in the financial success of the company while aligning their interests with shareholders. 2. Performance-Based Stock Option Plan: This plan introduces additional performance criteria for nonemployee directors to meet in order to exercise their stock options. It may include financial metrics, such as revenue growth or earnings per share targets, or other key performance indicators specific to National Surgery Centers, Inc.'s business goals. 3. Restricted Stock Unit (RSU) Plan: In this type of plan, nonemployee directors are granted RSS, which entitle them to receive a specified number of shares of National Surgery Centers, Inc. stock at a future vesting date. RSS provides a guaranteed equity stake and are typically subject to time-based vesting conditions. 4. Cash-Settled Stock Option Plan: Rather than receiving actual shares of stock, nonemployee directors participating in this plan are entitled to receive a cash payment equal to the difference between the exercise price and the fair market value of National Surgery Centers, Inc.'s stock at the time of exercise. This plan allows directors to benefit from stock price appreciation without the need to hold shares. The Alaska Nonemployee Directors Stock Option Plan serves as a powerful tool to attract, retain, and motivate exceptional nonemployee directors within National Surgery Centers, Inc. By linking their success to the company's performance, these directors are incentivized to contribute actively to the growth, profitability, and long-term success of the organization.