Maryland 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 Maryland Nonemployee Directors Stock Option Plan of National Surgery Centers, Inc. is a unique compensation program designed specifically for nonemployee directors of the company. This plan provides a means for these directors to acquire stock options and benefit from the company's performance. Nonemployee directors play a pivotal role in the leadership and decision-making processes of National Surgery Centers, Inc. As they are not employees of the company, this stock option plan serves as a vital tool to align their interests with the company's overall success. By offering stock options, National Surgery Centers, Inc. motivates and incentivizes these directors to contribute their expertise and knowledge to the company's growth. The Maryland Nonemployee Directors Stock Option Plan is tailored to meet the specific needs and requirements of the state of Maryland. It ensures compliance with applicable state laws and regulations. Recognizing the importance of attracting and retaining exceptional nonemployee directors, National Surgery Centers, Inc. created this plan as an additional benefit to foster long-term partnerships with experienced professionals in the field. The plan may consist of various types or tiers, each offering different sets of benefits and conditions. Some potential types of Maryland Nonemployee Directors Stock Option Plans of National Surgery Centers, Inc. could include: 1. Standard Stock Option Plan: Directors are provided with a set number of stock options based on their position and tenure. These options may vest over a specific period, encouraging directors to stay engaged with the company and contribute to its growth and profitability. 2. Performance-Based Stock Option Plan: This type of plan links the issuance of stock options to the achievement of pre-determined performance goals. Directors earn options based on the company's financial targets, such as revenue growth, profitability, or successful expansion into new markets. This incentivizes directors to actively work towards the company's strategic objectives. 3. Restricted Stock Unit (RSU) Plan: Instead of stock options, this plan grants nonemployee directors RSS, which represent future stock shares that will vest over time. RSS provides a guaranteed number of shares upon vesting, ensuring directors have a vested interest in the company's long-term success. 4. Stock Appreciation Rights (SAR) Plan: Stock Appreciation Rights give nonemployee directors the opportunity to benefit from the appreciation in the company's stock price over a specific period. Upon exercise, directors receive cash or stock equivalent to the difference between the stock's fair market value and the exercise price. The Maryland Nonemployee Directors Stock Option Plan of National Surgery Centers, Inc. is designed to attract, retain, and reward talented nonemployee directors by offering them an opportunity to share in the company's success. It incentivizes their dedication and serves as a way to align their interests with the interests of the company and its shareholders.