Michigan 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

Keywords: Michigan Nonemployee Directors Stock Option Plan, National Surgery Centers, Inc. The Michigan Nonemployee Directors Stock Option Plan of National Surgery Centers, Inc., is a comprehensive compensation package designed specifically for nonemployee directors in the state of Michigan. This plan provides an attractive incentive for directors to actively participate in the growth and success of National Surgery Centers, Inc. Under this plan, nonemployee directors are offered stock options as a way to align their interests with the performance of the company. These stock options give directors the right to purchase shares of National Surgery Centers, Inc.'s stock at a predetermined price, typically referred to as the exercise price. The value of the stock options depends on the future performance of the company, encouraging directors to contribute ideas and make key decisions that drive growth and profitability. The Michigan Nonemployee Directors Stock Option Plan aims to reward nonemployee directors for their dedicated service, while also motivating them to act in the best interests of the company and its shareholders. By offering these stock options, National Surgery Centers, Inc. provides directors with a tangible stake in the company's success and creates an incentive for them to enhance shareholder value. There may be different types of stock option plans available under the Michigan Nonemployee Directors Stock Option Plan, including incentive stock options (SOS) and non-qualified stock options (Nests). Incentive stock options are subject to specific tax treatment and often have stricter eligibility requirements. Non-qualified stock options, on the other hand, offer more flexibility but are taxed differently. Through the Michigan Nonemployee Directors Stock Option Plan, National Surgery Centers, Inc. acknowledges the valuable contributions of its nonemployee directors and recognizes their vital role in shaping the company's future. This innovative compensation plan demonstrates their commitment to attracting and retaining top-tier talent, as well as creating an environment where directors are motivated to promote the long-term success of National Surgery Centers, Inc.