Indiana 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 Indiana Nonemployee Directors Stock Option Plan of National Surgery Centers, Inc. is a comprehensive program designed to incentivize and reward nonemployee directors for their contributions to the organization's growth and success. This stock option plan allows eligible directors to purchase shares of National Surgery Centers, Inc. stock at a predetermined price, typically below the market value, offering them a potential financial benefit. Keywords: Indiana, Nonemployee Directors Stock Option Plan, National Surgery Centers, Inc., incentivize, reward, contributions, growth, success, purchase shares, predetermined price, financial benefit. There are two main types of Indiana Nonemployee Directors Stock Option Plan of National Surgery Centers, Inc.: 1. Equity-Based Stock Option Plan: Under this type of plan, nonemployee directors are granted options to purchase a specific number of shares of National Surgery Centers, Inc. stock at a predetermined price. These options typically have a vesting period, after which the directors can exercise their options and acquire the shares. The goal is to align the interests of directors with shareholders and motivate them to act in the company's best interests. 2. Performance-Based Stock Option Plan: This plan is designed to reward nonemployee directors based on specific performance criteria outlined by National Surgery Centers, Inc. These criteria may include financial targets, strategic milestones, or operational goals. Directors can earn stock options or additional shares based on their contribution to achieving these performance metrics. This plan aims to link director compensation directly to the company's success and encourage active participation in its growth initiatives. In summary, the Indiana Nonemployee Directors Stock Option Plan of National Surgery Centers, Inc. is a comprehensive program offering nonemployee directors the opportunity to purchase company stock at favorable terms, either through equity-based or performance-based plans. By aligning director incentives with shareholder interests, the plan fosters motivation, engagement, and a strong dedication to National Surgery Centers, Inc.'s overall success.