Ohio 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 Ohio Nonemployee Directors Stock Option Plan of National Surgery Centers, Inc. is a comprehensive stock option plan designed specifically for nonemployee directors of the company based in Ohio. This plan offers various benefits and incentives to nonemployee directors who play a crucial role in shaping the company's strategic direction and governance. The primary objective of the Ohio Nonemployee Directors Stock Option Plan is to align the interests of nonemployee directors with the long-term success and growth of National Surgery Centers, Inc. Through this plan, nonemployee directors are granted stock options, allowing them the opportunity to purchase company stock at a predetermined price within a specified timeframe. This serves as a valuable incentive for nonemployee directors to actively contribute to the company's progress and enhance shareholder value. The Ohio Nonemployee Directors Stock Option Plan of National Surgery Centers, Inc. may include different types of stock option grants with specific terms and conditions. Some types of stock options under this plan may include: 1. Nonqualified Stock Options: Nonqualified stock options are a common type of stock grant that provides nonemployee directors with the right to purchase company stock at a predetermined price. These options may be exercised at any time after a specific vesting period. 2. Incentive Stock Options: Incentive stock options are another type of stock grant that offers tax advantages to nonemployee directors. These options typically have certain eligibility requirements and may provide long-term benefits if specific conditions are met. 3. Restricted Stock Units (RSS): This plan may also include the issuance of restricted stock units to nonemployee directors. RSS is an alternative form of equity compensation wherein nonemployee directors receive the right to obtain shares of company stock after a predetermined vesting period. 4. Performance-based Stock Options: To further align the interests of nonemployee directors with the company's performance, the Ohio Nonemployee Directors Stock Option Plan may offer performance-based stock options. These options may have additional criteria tied to the achievement of predetermined goals or milestones. It is important to note that the specific details, terms, and types of stock option grants may vary within the Ohio Nonemployee Directors Stock Option Plan of National Surgery Centers, Inc. The plan is typically governed by relevant legal and regulatory frameworks and is subject to approval by the company's board of directors and shareholders.