Pennsylvania 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 Pennsylvania Nonemployee Directors Stock Option Plan of National Surgery Centers, Inc. is a comprehensive and versatile compensation plan offered specifically for nonemployee directors in Pennsylvania. This plan grants nonemployee directors the opportunity to purchase company stocks at a specified price within a predetermined timeframe. By providing stock options as a part of their compensation package, National Surgery Centers, Inc. aims to align the interests of nonemployee directors with those of the company and its shareholders. Under this Pennsylvania-based stock option plan, nonemployee directors are given the chance to invest in company stocks, allowing them to potentially benefit from the company's growth and success. The specific terms of the plan ensure that nonemployee directors are provided fair and equitable compensation that reflects their contributions and responsibilities. Some relevant keywords for this topic may include: 1. Nonemployee Directors: Refers to individuals who serve on the board of directors of a company but are not employed by the company. 2. Stock Option Plan: An employee benefit plan that grants individuals the right to purchase company stocks at a predetermined price within a specific period. 3. Compensation: Refers to the rewards and benefits provided to individuals in exchange for their services or contributions. 4. National Surgery Centers, Inc.: The specific company offering this Pennsylvania-based Nonemployee Directors Stock Option Plan. 5. Pennsylvania: The specific state where National Surgery Centers, Inc. operates and offers this stock option plan. 6. Equity Compensation: A form of compensation that includes company stocks or other ownership interests. 7. Shareholders: Individuals or entities that hold shares or ownership in the company. 8. Board of Directors: A group of individuals elected by shareholders to oversee the management and strategic direction of a company. It is important to note that while this description outlines the general concept of a Pennsylvania Nonemployee Directors Stock Option Plan, the specific types or variations of these plans offered by National Surgery Centers, Inc. are not mentioned. For more specific information regarding different types of plans within this context, it is recommended to refer to National Surgery Centers, Inc.'s official documentation or consult with a legal or financial professional.