Wyoming 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 Wyoming Nonemployee Directors Stock Option Plan of National Surgery Centers, Inc. is a comprehensive compensation program designed specifically for nonemployee directors of the company. It aims to incentivize and reward these key individuals for their contributions and dedication towards the growth and success of National Surgery Centers, Inc. Under this stock option plan, nonemployee directors are provided with the opportunity to obtain company stock options. These options give directors the right to purchase a specific number of company shares at a predetermined exercise price, within a specified time frame. The exercise price is generally set at the fair market value of the company's stock on the date of the option grant. The Wyoming Nonemployee Directors Stock Option Plan offers several benefits to the participating directors. Firstly, it aligns the interests of directors with those of shareholders, as they have the potential to benefit from the company's overall performance and share price appreciation. Additionally, it helps attract and retain highly experienced and qualified individuals as nonemployee directors, as they are motivated by the opportunity to acquire company stock and potentially realize significant financial gains. This stock option plan plays a crucial role in fostering a sense of ownership and accountability among nonemployee directors. By providing them with the ability to acquire company stock, it encourages them to actively contribute to the strategic decision-making process and long-term success of National Surgery Centers, Inc. Furthermore, the plan promotes director loyalty and commitment to the company, bolstering overall corporate governance and stability. It is important to note that there may be variations or types of Wyoming Nonemployee Directors Stock Option Plans implemented by National Surgery Centers, Inc. These variations could include different vesting schedules, exercise periods, and other terms and conditions. However, specific details regarding the types of plans offered are not available in the given information. In conclusion, the Wyoming Nonemployee Directors Stock Option Plan of National Surgery Centers, Inc. is a comprehensive compensation program designed to reward and incentivize nonemployee directors. By offering them the opportunity to acquire company stock through stock options, this plan aligns their interests with those of shareholders and fosters a sense of ownership, accountability, and commitment to the long-term success of the company.