New York 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 New York Nonemployee Directors Stock Option Plan of National Surgery Centers, Inc. is a unique incentive program that offers stock options to nonemployee directors based in the state of New York. This plan is specifically designed to reward and motivate directors for their valuable contributions to the company's growth and success. The nonemployee directors of National Surgery Centers, Inc. are individuals who serve on the company's board but are not directly employed by the company. The stock option plan allows these directors to purchase company stock at a predetermined price within a specified period. This provides them with the opportunity to benefit from the company's future growth and profitability. By offering stock options, National Surgery Centers, Inc. aligns the interests of its nonemployee directors with that of the company and its shareholders. This plan encourages the directors to make decisions and provide guidance that will enhance the company's long-term performance. Under the New York Nonemployee Directors Stock Option Plan, there may be variations or different types available to directors, such as: 1. Standard Stock Options: These options grant directors the right to purchase company stock at a predetermined price, usually referred to as the exercise price or strike price. The options typically have a vesting period during which the director must fulfill certain conditions, such as serving on the board for a specific duration, to exercise their options. 2. Restricted Stock Units (RSS): Unlike stock options, RSS grant directors the actual stock once the vesting requirements are met, instead of the right to purchase at a predetermined price. This alternative may be offered as an option or in combination with traditional stock options. 3. Performance-Based Options: This type of stock option plan may be linked to specific performance metrics of National Surgery Centers, Inc. If predetermined goals, such as revenue growth or profitability targets, are achieved, the directors may be eligible to exercise their options. Performance-based options align director incentives with the company's performance objectives. The New York Nonemployee Directors Stock Option Plan of National Surgery Centers, Inc. demonstrates the company's commitment to attracting, retaining, and rewarding qualified directors who contribute their expertise and experience to the company's strategic decision-making. By offering stock options as part of the compensation package, National Surgery Centers, Inc. aims to foster a strong sense of ownership and motivate directors to act in the best interest of the company and its shareholders.