Arkansas 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 Arkansas Nonemployee Directors Stock Option Plan of National Surgery Centers, Inc. is a comprehensive program aimed at offering stock options to nonemployee directors of the company. It provides an attractive incentive to motivate directors to contribute their expertise towards the organization's growth and success. This stock option plan is designed exclusively for nonemployee directors, distinguishing it from other stock option plans that may cater to employees. By offering this plan specifically to directors who are not employees, National Surgery Centers, Inc. aims to reward their valuable contributions and align their interests with those of shareholders. Under the Arkansas Nonemployee Directors Stock Option Plan, eligible directors are given the opportunity to acquire company stock at a predetermined price within a specified time period. This allows directors to benefit from the potential increase in the company's stock value while promoting a long-term commitment to the organization. The plan promotes fairness and transparency by specifying the terms and conditions of stock option grants, including vesting schedules and exercise periods. These details vary depending on the plan's specific provisions and the company's discretion. National Surgery Centers, Inc. may have multiple types of Arkansas Nonemployee Directors Stock Option Plans, each with its own unique features and requirements. Key keywords for this topic include Arkansas, nonemployee directors, stock option plan, National Surgery Centers, Inc., incentive, shareholders, directors' contributions, vesting schedules, exercise periods, stock value, and long-term commitment.