Missouri 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 Missouri Nonemployee Directors Stock Option Plan is an essential and beneficial program established by National Surgery Centers, Inc. This plan specifically caters to nonemployee directors of the company, intended to provide them with stock options as a form of compensation and incentives for their valuable services and contributions. By implementing the Missouri Nonemployee Directors Stock Option Plan, National Surgery Centers, Inc. aims to attract and retain highly skilled and qualified individuals to serve on their board. This plan serves as a powerful tool to align the interests of the directors with those of the company and its shareholders, fostering a sense of ownership and commitment towards its overall growth and success. Under this comprehensive stock option plan, eligible nonemployee directors have the opportunity to acquire company stock at a predetermined price, which is usually beneficially priced compared to the market value. Directors can exercise these options at a later date, allowing them to purchase company shares and potentially profit from any future valuation increases. The Missouri Nonemployee Directors Stock Option Plan ensures fairness and equity among the directors as each individual is granted options based on a predetermined formula, taking into account their specific role, tenure, and contributions to the organization. This plan further ensures that it complies with the regulations and guidelines outlined by the state of Missouri, providing a legally secure framework for the implementation and management of the stock option program. There may be various types or tiers within the Missouri Nonemployee Directors Stock Option Plan of National Surgery Centers, Inc. These could include: 1. Basic Stock Option Plan: This plan would typically offer a standard set of stock option grants to nonemployee directors, allowing them to purchase company shares at a fixed price within a specific timeframe. 2. Performance-based Stock Option Plan: In addition to the basic stock options, this plan also includes performance-based incentives tied to predetermined goals and objectives. The directors may be eligible for additional stock options if they achieve or exceed specified performance targets. 3. Restricted Stock Option Plan: This plan involves setting conditions or restrictions on the stock options granted, such as vesting periods or performance milestones. Directors would need to fulfill these conditions before exercising their options and acquiring the shares. 4. Stock Appreciation Rights (SAR) Plan: As an alternative to traditional stock options, this plan provides directors with the right to receive the appreciation in the company's stock value over a specified period, rather than acquiring shares themselves. Overall, the Missouri Nonemployee Directors Stock Option Plan of National Surgery Centers, Inc. demonstrates the company's commitment to recognizing and rewarding its nonemployee directors for their contributions and aligning their interests with the organization's long-term success.