The purpose of the non-employee director stock option plan is to attract and retain highly qualified people who are not employees of the company or any of its subsidiaries to serve as non-employee directors of the company, and to encourage non-employee directors to own shares of the company's common stock.
Connecticut Nonemployee Director Stock Option Plan
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2.14. ?Restricted Stock? means shares of Common Stock granted to an Non-Employee Director pursuant to Section 5 of the Plan that is subject to the restrictions on transferability and the risk of forfeiture imposed by the provisions of Section 5.
?NON-EMPLOYEE DIRECTOR? means a member of the Board who is not an employee of the Company or any of its Subsidiaries. ?OPTION? means an option to purchase Shares awarded to a Non-Employee Director under the Plan.
RSUs: Restricted stock units?companies usually issue these to contractors at any stage of company growth. SARs: Share appreciation rights?Companies offer these to contractors to enable them to receive the increase in value of a company's stock over a set period.
RSUs are allowed, by law, to be granted to employees and non-employees alike. This means they can be used for contractors and outside directors.
A restricted stock unit (RSU) is a form of stock-based compensation used to reward employees. Restricted stock units will vest at some point in the future and, unlike stock options, will have some value upon vesting unless the underlying company stock becomes worthless.
1 There are many ways to structure an employee equity program, but the vast majority of private companies choose stock options (options) or restricted stock units (RSUs).