District of Columbia 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 District of Columbia Nonemployee Directors Stock Option Plan of National Surgery Centers, Inc. is a comprehensive and beneficial program designed specifically for nonemployee directors affiliated with the organization. This plan allows nonemployee directors to receive stock options as a form of compensation, providing them with the opportunity to purchase company stocks at a predetermined price within a specified time period. The Nonemployee Directors Stock Option Plan is available exclusively for nonemployee directors who play a key role in the strategic decision-making process of National Surgery Centers, Inc. These individuals contribute their expertise and diverse perspectives to the company's overall growth and success. By offering stock options, National Surgery Centers, Inc. aims to align the interests of nonemployee directors with those of the company's shareholders. Through the plan, nonemployee directors are granted the right to purchase a specified number of shares of National Surgery Centers, Inc.'s stock at a predetermined exercise price. This exercise price is typically set at the fair market value of the company's stock on the date the stock option is granted, ensuring fairness and transparency in the process. The stock options are subject to vesting requirements, which means they become exercisable gradually over a period of time or upon the achievement of specific performance goals. This incentivizes nonemployee directors to continue their valuable contributions to the organization in the long run. The District of Columbia Nonemployee Directors Stock Option Plan is one of several types of compensation plans offered by National Surgery Centers, Inc. to reward and retain its nonemployee directors. Other types of stock-based compensation plans may include restricted stock awards, performance-based stock options, or stock appreciation rights. These different variations of stock option plans allow National Surgery Centers, Inc. to tailor the compensation packages to the specific needs and goals of their nonemployee directors. Overall, the District of Columbia Nonemployee Directors Stock Option Plan offers an attractive compensation option to nonemployee directors of National Surgery Centers, Inc. It incentivizes their long-term commitment, fosters alignment with shareholders' interests, and enhances overall company performance. By providing nonemployee directors with the opportunity to share in the success of the company, this plan promotes their active engagement, strengthens corporate governance, and contributes to the continued growth and prosperity of National Surgery Centers, Inc.