Alabama Nonemployee Directors Stock Plan of TJ International, Inc.

• Category: Corporations - Public - Stock Options
• State: Multi-State
• Control #: US-CC-18-361A
• Format: Word; Rich Text

Description

18-361A 18-361A . . . Non-employee Directors Stock Option Plan under which Board can grant, during first year of Plan, options to purchase up to 2,000 shares of stock exercisable one year after grant and options to purchase 1,667 shares of stock exercisable 3 years after grant. Each year beginning with the 2nd year of Plan, Board can grant options for up to 2,000 shares of stock which are exercisable in 3 equal annual installments beginning 1 year after grant The Alabama Nonemployee Directors Stock Plan of TJ International, Inc. is a comprehensive stock compensation program designed specifically for nonemployee directors of the company residing in Alabama. This plan provides an opportunity for these directors to acquire and hold shares of TJ International, Inc. stock, thereby aligning their interests with those of the company's shareholders. The plan aims to reward nonemployee directors for their contributions to the company's success while fostering a sense of ownership and commitment. As per the Alabama Nonemployee Directors Stock Plan, there are different types or provisions that can be outlined: 1. Stock Grant: This provision allows nonemployee directors to receive a predetermined number of shares of TJ International, Inc. stock as a grant. The stock grant is typically awarded at regular intervals, such as annually, and is subject to certain vesting requirements or conditions. 2. Stock Options: Another aspect of the Alabama plan is the inclusion of stock options for nonemployee directors. Stock options provide directors with the right to purchase a specific number of shares of TJ International, Inc. stock at a predetermined price, known as the exercise price. These options often have a designated vesting period and expiration date. 3. Restricted Stock Units (RSS): RSS are also part of the Alabama Nonemployee Directors Stock Plan, which entitles directors to receive a certain number of shares at a predetermined future date. The allocation of shares may be subject to specific performance or time-based conditions, ensuring that the directors remain engaged and committed to the company's growth. 4. Dividend Equivalents: Dividend equivalents may be granted to nonemployee directors participating in the plan. This provision allows directors to receive the equivalent value of any dividends issued on the shares they hold or are entitled to. These equivalents may be paid in cash, additional shares, or a combination of both. 5. Change of Control Provisions: In the event of a change of control, the Alabama Nonemployee Directors Stock Plan may include provisions that protect the interests of nonemployee directors. These provisions might entitle directors to certain benefits or accelerated vesting of their stock grants or options in case of a merger, acquisition, or other similar events. Overall, the Alabama Nonemployee Directors Stock Plan of TJ International, Inc. is a comprehensive program designed to attract and retain talented individuals to serve as nonemployee directors. It serves as a tool for incentivizing directors' contributions to the company's growth and long-term success. By providing stock grants, options, RSS, dividend equivalents, and change of control provisions, the plan ensures that nonemployee directors have a vested interest in the company's performance and align their objectives with those of the shareholders and stakeholders.

The Alabama Nonemployee Directors Stock Plan of TJ International, Inc. is a comprehensive stock compensation program designed specifically for nonemployee directors of the company residing in Alabama. This plan provides an opportunity for these directors to acquire and hold shares of TJ International, Inc. stock, thereby aligning their interests with those of the company's shareholders. The plan aims to reward nonemployee directors for their contributions to the company's success while fostering a sense of ownership and commitment. As per the Alabama Nonemployee Directors Stock Plan, there are different types or provisions that can be outlined: 1. Stock Grant: This provision allows nonemployee directors to receive a predetermined number of shares of TJ International, Inc. stock as a grant. The stock grant is typically awarded at regular intervals, such as annually, and is subject to certain vesting requirements or conditions. 2. Stock Options: Another aspect of the Alabama plan is the inclusion of stock options for nonemployee directors. Stock options provide directors with the right to purchase a specific number of shares of TJ International, Inc. stock at a predetermined price, known as the exercise price. These options often have a designated vesting period and expiration date. 3. Restricted Stock Units (RSS): RSS are also part of the Alabama Nonemployee Directors Stock Plan, which entitles directors to receive a certain number of shares at a predetermined future date. The allocation of shares may be subject to specific performance or time-based conditions, ensuring that the directors remain engaged and committed to the company's growth. 4. Dividend Equivalents: Dividend equivalents may be granted to nonemployee directors participating in the plan. This provision allows directors to receive the equivalent value of any dividends issued on the shares they hold or are entitled to. These equivalents may be paid in cash, additional shares, or a combination of both. 5. Change of Control Provisions: In the event of a change of control, the Alabama Nonemployee Directors Stock Plan may include provisions that protect the interests of nonemployee directors. These provisions might entitle directors to certain benefits or accelerated vesting of their stock grants or options in case of a merger, acquisition, or other similar events. Overall, the Alabama Nonemployee Directors Stock Plan of TJ International, Inc. is a comprehensive program designed to attract and retain talented individuals to serve as nonemployee directors. It serves as a tool for incentivizing directors' contributions to the company's growth and long-term success. By providing stock grants, options, RSS, dividend equivalents, and change of control provisions, the plan ensures that nonemployee directors have a vested interest in the company's performance and align their objectives with those of the shareholders and stakeholders.