Alabama 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

Alabama Nonemployee Directors Stock Option Plan of National Surgery Centers, Inc. is a comprehensive stock option program designed specifically for nonemployee directors of National Surgery Centers, Inc. This plan offers an attractive opportunity for these directors to acquire company stock and align their interests with the success and growth of the organization. Through the Alabama Nonemployee Directors Stock Option Plan, eligible directors are granted stock options that can be exercised at a predetermined price within a specified timeframe. These options provide the directors with the right to purchase a certain number of shares of National Surgery Centers, Inc. stock for a fixed price known as the strike price. This stock option plan allows nonemployee directors to participate in the potential appreciation of National Surgery Centers, Inc. stock value over time. As the company performs well and its stock price increases, participating directors have the chance to exercise their options and acquire shares at the predetermined strike price, effectively profiting from the difference between the strike price and the current market value. The Alabama Nonemployee Directors Stock Option Plan of National Surgery Centers, Inc. is one of the types of stock-based compensation plans that the company offers to align the interests of nonemployee directors with the shareholders. The plan aims to reward directors for their contributions, encourage their long-term commitment to the organization, and foster a sense of ownership among them. This plan also serves as a valuable tool for attracting and retaining experienced and skilled nonemployee directors. By providing them with the opportunity to become shareholders, National Surgery Centers, Inc. can attract individuals who are motivated to contribute to the company's growth and success. In conclusion, the Alabama Nonemployee Directors Stock Option Plan of National Surgery Centers, Inc. is a strategic compensation program that grants stock options to eligible directors. It enables these directors to buy company stock at a predetermined price, allowing them to benefit from any potential increase in stock value. With this plan, National Surgery Centers, Inc. aims to align the interests of nonemployee directors with the organization's shareholders and reward them for their contributions.