Georgia Nonemployee Director Stock Option Plan of U.S. Bancorp

• Category: Corporations - Public - Stock Options
• State: Multi-State
• Control #: US-CC-18-209A
• Format: Word; Rich Text

Description

18-209A 18-209A . . . Outside Director Stock Option Plan under which, in addition to initial grants at fair market value on date of grant, each outside director may elect to receive deferred compensation option in lieu of all or specified portion of any directors fees. Such deferred compensation options shall be for number of shares equal to dollar amount specified in optionee's deferral election divided by difference between (a) fair market value of a share and (b) greater of 40% of fair market value of a share as of grant date or $5.00; and exercise price shall be equal to greater of (x) 40% of fair market value of a share as of grant date or (y) $5.00 The Georgia Nonemployee Director Stock Option Plan of U.S. Ban corp is a compensation program designed specifically for the nonemployee directors of U.S. Ban corp who reside in the state of Georgia. This plan offers stock options as a form of incentive to attract and retain valuable directors who contribute to the overall success of the company. Under this plan, eligible nonemployee directors are granted the opportunity to purchase a specified number of common shares of U.S. Ban corp at a predetermined exercise price. These stock options typically have a vesting period, during which the director must remain in service to the company to earn the right to exercise the options. Once vested, the option holder can exercise the options and purchase the shares at the exercise price. This allows the director to potentially benefit from any increase in the company's stock value over time. The Georgia Nonemployee Director Stock Option Plan aims to align the interests of directors with shareholders, as the value of the stock options is directly tied to the company's performance in the stock market. By providing directors with an opportunity to share in the company's success, these stock options serve as a powerful tool to motivate and reward directors for their contributions and continued commitment. It is worth noting that there might be different variations or types of the Georgia Nonemployee Director Stock Option Plan of U.S. Ban corp, tailored to specific circumstances or requirements. These may include plan provisions related to grant frequency, exercise periods, vesting schedules, and other terms and conditions. It is advisable to refer to the specific plan documentation or consult with U.S. Ban corp to obtain accurate and up-to-date information on the different types of the Georgia Nonemployee Director Stock Option Plan.

The Georgia Nonemployee Director Stock Option Plan of U.S. Ban corp is a compensation program designed specifically for the nonemployee directors of U.S. Ban corp who reside in the state of Georgia. This plan offers stock options as a form of incentive to attract and retain valuable directors who contribute to the overall success of the company. Under this plan, eligible nonemployee directors are granted the opportunity to purchase a specified number of common shares of U.S. Ban corp at a predetermined exercise price. These stock options typically have a vesting period, during which the director must remain in service to the company to earn the right to exercise the options. Once vested, the option holder can exercise the options and purchase the shares at the exercise price. This allows the director to potentially benefit from any increase in the company's stock value over time. The Georgia Nonemployee Director Stock Option Plan aims to align the interests of directors with shareholders, as the value of the stock options is directly tied to the company's performance in the stock market. By providing directors with an opportunity to share in the company's success, these stock options serve as a powerful tool to motivate and reward directors for their contributions and continued commitment. It is worth noting that there might be different variations or types of the Georgia Nonemployee Director Stock Option Plan of U.S. Ban corp, tailored to specific circumstances or requirements. These may include plan provisions related to grant frequency, exercise periods, vesting schedules, and other terms and conditions. It is advisable to refer to the specific plan documentation or consult with U.S. Ban corp to obtain accurate and up-to-date information on the different types of the Georgia Nonemployee Director Stock Option Plan.