North Carolina 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 North Carolina Nonemployee Directors Stock Option Plan of National Surgery Centers, Inc. is a comprehensive and rewarding compensation program designed specifically for nonemployee directors of the company based in North Carolina. This plan offers valuable stock options to these directors, providing them with a unique opportunity to share in the company's success and align their interests with those of the shareholders. Under the North Carolina Nonemployee Directors Stock Option Plan, directors are granted options to purchase shares of the company's common stock at a predetermined exercise price. These options usually have a specific vesting period, during which the directors must remain in their roles to earn the full benefit. Once vested, the directors have the flexibility to exercise their options and acquire the company's stock at the established price. This plan serves as a powerful tool for attracting and retaining highly qualified individuals to serve on the board of National Surgery Centers, Inc. By granting stock options, the company incentivizes nonemployee directors to play an active role in its growth, governance, and long-term success. It also helps foster a sense of ownership among directors and strengthens their commitment to strategic decision-making and shareholder value creation. The North Carolina Nonemployee Directors Stock Option Plan is carefully designed to comply with relevant laws and regulations, ensuring transparency, fairness, and accountability. It is governed by specific guidelines and rules established by the company, which may be subject to periodic review and updates. National Surgery Centers, Inc. may employ variations of this plan, each tailored to meet the unique needs of its nonemployee directors, while remaining compliant with North Carolina and federal laws. In summary, the North Carolina Nonemployee Directors Stock Option Plan of National Surgery Centers, Inc. presents a valuable opportunity for nonemployee directors to participate in the company's growth and success. These stock options provide a means for directors to align their interests with those of shareholders, serving as a powerful incentive for their continued dedication to the company and its long-term goals.