18-172 18-172 . . Director Stock Program which provides that, on first day of director's term, such director will be granted option to acquire 900 shares of common stock, and on first day of each subsequent year of director's term, he or she will be granted options to acquire 300 shares of common stock. Options are at fair market value on date of grant and are exercisable in full six months after date of grant. The Director Stock Program also provides that, on first day of director's term, he or she will be awarded right to purchase 450 shares of restricted stock, and on first day of the second and third year of such director's term, he or she will be awarded right to purchase 150 shares of restricted stock. Purchase price will be equal to par value of common stock
Florida Director stock program
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THE MINIMUM SHAREHOLDING REQUIREMENT This Minimum Shareholding Policy requires Executive Directors to build and maintain shares of at least 200% of base, gross salary, (the "Minimum Shareholding Requirement") during their tenure.
Directors as shareholders Directors are allowed to hold shares of a corporation where they are directors. However, the directors of a corporation are not required to hold shares in the corporation unless its articles make this a requirement for the directors.
What's the difference between shareholders and directors? Shareholders are essentially the owners of a company, while the directors are a person or group who make and approve high-level decisions on the company's behalf.
Shareholders own the company by owning its shares and are often referred to as 'members'. Directors on the other hand, manage the business and its operations. Unless the articles of association state so, a director isn't required to be a shareholder, and a shareholder has no legal right to be a director.
Shareholders and directors have two completely different roles in a company. The shareholders (also called members) own the company by owning its shares and the directors manage it. Unless the articles say so (and most do not) a director does not need to be a shareholder and a shareholder has no right to be a director.
Does a Director Need to Hold Shares? As a director, you can own shares in your company. However, there is no requirement for a director to hold shares. Nevertheless, a company constitution may state that the director must hold a specified amount of shares.
A shareholder is a person who owns one or more shares in a company and are the owners of the company. A shareholder and director may be the same person, but they have different roles and responsibilities.
Is it necessary to get a shareholder as a director of a company? No, the director is not required to hold the company shares. A person with no company shares can also be appointed as a director unless the AOA specifies that the company director must have shares in the company.