The non-employee director stock option prospectus explains the stock option plan to the non-employee directors. It addresses the director's right to exercise the option of buying common stock in the company, along with explaining the obligations of the non-employee director where taxes and capital gains are concerned.
Vermont Nonemployee Director Stock Option Prospectus
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US-TC0915
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FAQ
?NON-EMPLOYEE DIRECTOR? means a member of the Board who is not an employee of the Company or any of its Subsidiaries. ?OPTION? means an option to purchase Shares awarded to a Non-Employee Director under the Plan.
As independent director for A Ltd. or its holding or subsidiary or associate company. to be appointed as independent director of A Ltd. However, the relative may hold upto securities upto face value of Rs. 50 lacs or 2% of paid up capital of company, its holding, subsidiary or associate company.
Stock Options? this is valued by the grant date fair value award that is reported by the company; equates to approximately 6% of total compensation. Full Value Stock Awards? includes stock and stock unit awards; equates to approximately 48% of total compensation.
As per section 149(9) of the Companies Act, 2013, notwithstanding anything contained in any other provision of this Act, but subject to the provisions of sections 197 and 198, an independent director shall not be entitled to any stock option and may receive remuneration by way of fee provided under sub-section (5) of ...
Agree with your primary investor on the compensation you can offer an independent director. This is usually stock options of some kind, typically ranging from 0.25% to 1.0%, with vesting that matches the length of the first appointment (e.g., two years on the board, two-year vesting).
The independent director shall be appointed for a maximum term of 5 years. The term shall not be more than 2 consecutive terms. He or she shall be re-appointed only by special resolution by the company.