District of Columbia Director stock program

• Category: Corporations - Public - Stock Options
• State: Multi-State
• Control #: US-CC-18-172
• Format: Word; Rich Text

Description

18-172 18-172 . . Director Stock Program which provides that, on first day of director's term, such director will be granted option to acquire 900 shares of common stock, and on first day of each subsequent year of director's term, he or she will be granted options to acquire 300 shares of common stock. Options are at fair market value on date of grant and are exercisable in full six months after date of grant. The Director Stock Program also provides that, on first day of director's term, he or she will be awarded right to purchase 450 shares of restricted stock, and on first day of the second and third year of such director's term, he or she will be awarded right to purchase 150 shares of restricted stock. Purchase price will be equal to par value of common stock The District of Columbia Director Stock Program is a unique initiative that aims to incentivize and attract highly skilled professionals to serve as directors in various government agencies and organizations within the District of Columbia. This program offers directors the opportunity to acquire company stocks as a part of their compensation package, which further aligns their interests with the success and growth of the organization they lead. The District of Columbia Director Stock Program is designed to promote accountability, efficiency, and innovation in the public sector by attracting top talent and providing them with additional incentives beyond traditional compensation methods. By offering stocks, directors are encouraged to adopt a long-term perspective and actively contribute towards the organization's objectives. Within the District of Columbia Director Stock Program, there are several types available, providing flexibility to match the needs and preferences of different directors. These types may include: 1. Restricted Stock Units (RSS): Directors may be granted a specific number of RSS, which entitle them to receive company shares after a certain vesting period. This type of stock enables directors to become owners of the organization over time and benefit from its success. 2. Stock Options: Directors may be granted the opportunity to purchase company stocks at a pre-determined price, known as the exercise price, within a specified timeframe. This type of stock program allows directors to benefit from any future increase in the organization's stock price. 3. Performance Stock Units (Plus): Directors may be awarded Plus based on their performance and achievement of specified goals. These stock units typically vest over a period of time and are contingent upon meeting predetermined performance metrics. 4. Employee Stock Purchase Plans (ESPN): Directors may be eligible to participate in ESPN, which allow them to purchase company stocks at a discounted price. This program is usually open to all employees, including directors, fostering a sense of ownership and participation in the organization's growth. The District of Columbia Director Stock Program not only adds a crucial financial incentive to attract experienced professionals but also promotes a sense of shared ownership and responsibility. It aligns the interests of directors with the success of the organization, ultimately driving efficiency, innovation, and excellence in public sector governance.

The District of Columbia Director Stock Program is a unique initiative that aims to incentivize and attract highly skilled professionals to serve as directors in various government agencies and organizations within the District of Columbia. This program offers directors the opportunity to acquire company stocks as a part of their compensation package, which further aligns their interests with the success and growth of the organization they lead. The District of Columbia Director Stock Program is designed to promote accountability, efficiency, and innovation in the public sector by attracting top talent and providing them with additional incentives beyond traditional compensation methods. By offering stocks, directors are encouraged to adopt a long-term perspective and actively contribute towards the organization's objectives. Within the District of Columbia Director Stock Program, there are several types available, providing flexibility to match the needs and preferences of different directors. These types may include: 1. Restricted Stock Units (RSS): Directors may be granted a specific number of RSS, which entitle them to receive company shares after a certain vesting period. This type of stock enables directors to become owners of the organization over time and benefit from its success. 2. Stock Options: Directors may be granted the opportunity to purchase company stocks at a pre-determined price, known as the exercise price, within a specified timeframe. This type of stock program allows directors to benefit from any future increase in the organization's stock price. 3. Performance Stock Units (Plus): Directors may be awarded Plus based on their performance and achievement of specified goals. These stock units typically vest over a period of time and are contingent upon meeting predetermined performance metrics. 4. Employee Stock Purchase Plans (ESPN): Directors may be eligible to participate in ESPN, which allow them to purchase company stocks at a discounted price. This program is usually open to all employees, including directors, fostering a sense of ownership and participation in the organization's growth. The District of Columbia Director Stock Program not only adds a crucial financial incentive to attract experienced professionals but also promotes a sense of shared ownership and responsibility. It aligns the interests of directors with the success of the organization, ultimately driving efficiency, innovation, and excellence in public sector governance.