Utah Director stock program

• Category: Corporations - Public - Stock Options
• State: Multi-State
• Control #: US-CC-18-172
• Format: Word; Rich Text

Description

18-172 18-172 . . Director Stock Program which provides that, on first day of director's term, such director will be granted option to acquire 900 shares of common stock, and on first day of each subsequent year of director's term, he or she will be granted options to acquire 300 shares of common stock. Options are at fair market value on date of grant and are exercisable in full six months after date of grant. The Director Stock Program also provides that, on first day of director's term, he or she will be awarded right to purchase 450 shares of restricted stock, and on first day of the second and third year of such director's term, he or she will be awarded right to purchase 150 shares of restricted stock. Purchase price will be equal to par value of common stock

Utah Director Stock Program: The Utah Director Stock Program is an innovative investment initiative introduced by the state of Utah to attract and encourage the growth of new businesses. This program aims to enhance economic development by connecting talented directors with promising startups, giving them an opportunity to invest their skills, expertise, and capital into these ventures. As part of the Utah Director Stock Program, qualified directors are selected and provided the opportunity to acquire stock in select businesses. These directors, with their specialized knowledge and experience, play a vital role in guiding and supporting the growth of these companies, ultimately benefiting both the directors and the businesses they invest in. The Utah Director Stock Program offers various types of stock programs to cater to different business needs and industries. These programs include: 1. Technology Director Stock Program: This program specifically targets technology-based startups, leveraging the expertise of directors with a background in tech to drive innovation and growth in the sector. 2. Healthcare Director Stock Program: Designed to cater to the healthcare industry, this program focuses on connecting experienced directors with healthcare startups, helping them navigate the complexities of the industry while fostering growth and development. 3. Renewable Energy Director Stock Program: This initiative aims to accelerate the growth of renewable energy companies by providing opportunities for competent directors with a passion for sustainable energy to invest their expertise and capital in these businesses. 4. Manufacturing Director Stock Program: The manufacturing sector is one of the key focus areas of this program, connecting directors with skills and knowledge in manufacturing and operations to support and boost the growth of startups in this industry. By offering directorial support and stock investment opportunities, the Utah Director Stock Program enables talented professionals to actively contribute to the growth of early-stage companies. Directors play a crucial role in shaping the strategic direction, providing valuable insights, and fostering connections, ultimately driving the success of these startups. Simultaneously, participating directors benefit from the potential financial gain through their stock investments as the supported businesses flourish and meet milestones. In summary, the Utah Director Stock Program presents a unique opportunity for qualified directors to invest their expertise, experience, and capital into young businesses across industries such as technology, healthcare, renewable energy, and manufacturing. Through this program, Utah strives to foster economic development and promote innovation while creating a mutually beneficial relationship between directors and startups.