California 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 California Nonemployee Directors Stock Option Plan of National Surgery Centers, Inc. is a comprehensive compensation program designed to provide eligible nonemployee directors with stock options as a means of aligning their interests with the company's long-term success. This plan is specifically tailored to comply with California corporate laws and regulations. Keywords: California, Nonemployee Directors Stock Option Plan, National Surgery Centers Inc., stock options, compensation program, long-term success, California corporate laws. Under this plan, nonemployee directors of National Surgery Centers, Inc. have the opportunity to receive stock options as part of their compensation package, incentivizing their commitment to the company's growth and profitability. These stock options give directors the right to purchase company shares at a predetermined price, known as the exercise price, within specific timeframes. The California Nonemployee Directors Stock Option Plan recognizes the unique roles and contributions of nonemployee directors by offering them an equity stake in the company's future achievements. This aligns the interests of nonemployee directors with those of the company's shareholders, fostering a sense of ownership and accountability. Types of California Nonemployee Directors Stock Option Plans within National Surgery Centers, Inc. may include: 1. Standard Stock Option Plan: This type of plan grants nonemployee directors the right to purchase company shares at a specified exercise price over a set period, usually several years. These stock options typically vest gradually, incentivizing directors to remain actively engaged with the company over the long term. 2. Incentive Stock Option Plan: This plan provides additional tax advantages to nonemployee directors by qualifying for special tax treatment under the Internal Revenue Code. Directors receiving incentive stock options may be eligible for favorable capital gains tax rates upon the sale of the acquired shares, subject to certain requirements. 3. Performance-based Stock Option Plan: This plan ties the achievement of specific performance criteria to the issuance of stock options to nonemployee directors. The performance criteria may include financial targets, operational milestones, or other predetermined metrics. This type of plan is designed to incentivize directors to contribute to and achieve the company's strategic objectives. 4. Restricted Stock Units (RSS): While not strictly categorized as stock options, RSS are another form of equity compensation that may be included in the California Nonemployee Directors Stock Option Plan. This RSS represents the right to receive company shares in the future, usually subject to vesting requirements or performance conditions. It should be noted that the specific details and provisions of the California Nonemployee Directors Stock Option Plan may vary depending on National Surgery Centers, Inc.'s corporate governance practices, legal requirements, and individual director agreements.

The California Nonemployee Directors Stock Option Plan of National Surgery Centers, Inc. is a comprehensive compensation program designed to provide eligible nonemployee directors with stock options as a means of aligning their interests with the company's long-term success. This plan is specifically tailored to comply with California corporate laws and regulations. Keywords: California, Nonemployee Directors Stock Option Plan, National Surgery Centers Inc., stock options, compensation program, long-term success, California corporate laws. Under this plan, nonemployee directors of National Surgery Centers, Inc. have the opportunity to receive stock options as part of their compensation package, incentivizing their commitment to the company's growth and profitability. These stock options give directors the right to purchase company shares at a predetermined price, known as the exercise price, within specific timeframes. The California Nonemployee Directors Stock Option Plan recognizes the unique roles and contributions of nonemployee directors by offering them an equity stake in the company's future achievements. This aligns the interests of nonemployee directors with those of the company's shareholders, fostering a sense of ownership and accountability. Types of California Nonemployee Directors Stock Option Plans within National Surgery Centers, Inc. may include: 1. Standard Stock Option Plan: This type of plan grants nonemployee directors the right to purchase company shares at a specified exercise price over a set period, usually several years. These stock options typically vest gradually, incentivizing directors to remain actively engaged with the company over the long term. 2. Incentive Stock Option Plan: This plan provides additional tax advantages to nonemployee directors by qualifying for special tax treatment under the Internal Revenue Code. Directors receiving incentive stock options may be eligible for favorable capital gains tax rates upon the sale of the acquired shares, subject to certain requirements. 3. Performance-based Stock Option Plan: This plan ties the achievement of specific performance criteria to the issuance of stock options to nonemployee directors. The performance criteria may include financial targets, operational milestones, or other predetermined metrics. This type of plan is designed to incentivize directors to contribute to and achieve the company's strategic objectives. 4. Restricted Stock Units (RSS): While not strictly categorized as stock options, RSS are another form of equity compensation that may be included in the California Nonemployee Directors Stock Option Plan. This RSS represents the right to receive company shares in the future, usually subject to vesting requirements or performance conditions. It should be noted that the specific details and provisions of the California Nonemployee Directors Stock Option Plan may vary depending on National Surgery Centers, Inc.'s corporate governance practices, legal requirements, and individual director agreements.