Wisconsin 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 Wisconsin Nonemployee Directors Stock Option Plan of National Surgery Centers, Inc. is a comprehensive compensation program designed specifically for the nonemployee directors of the organization residing in the state of Wisconsin. This incentive plan provides an opportunity for these directors to acquire stock options based on their valuable contributions to the company. Under this plan, nonemployee directors are granted stock options as a form of compensation. These options allow the directors to purchase a specified number of company stocks at a predetermined price, known as the exercise price. The stock options are typically granted to nonemployee directors as a long-term incentive to align their interests with that of the organization and its shareholders. The Wisconsin Nonemployee Directors Stock Option Plan aims to motivate and retain talented directors, who do not hold an executive or employee position in the company. By offering stock options, National Surgery Centers, Inc. provides a potential financial reward tied to the company's success, in addition to the director's fees they receive for their board service. This plan is tailored specifically to directors residing in Wisconsin, adhering to the state's laws and regulations. It ensures that the organization complies with the necessary requirements set forth by the state, thereby providing a streamlined and efficient stock option program for the nonemployee directors. There may not be different types of Wisconsin Nonemployee Directors Stock Option Plans available within National Surgery Centers, Inc. However, it is crucial to note that variations or amendments to the plan's terms and conditions may exist, providing flexibility to address any specific needs or changes in the future. In conclusion, the Wisconsin Nonemployee Directors Stock Option Plan is a compensation program catering to nonemployee directors of National Surgery Centers, Inc. based in Wisconsin. Its primary objective is to reward and retain these directors by granting them stock options, providing an opportunity to acquire company stocks at a predetermined price. This plan demonstrates the company's commitment to establishing a fair and motivating compensation structure for those contributing to its success in a nonemployee director capacity.