Guam 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 Guam Nonemployee Directors Stock Plan is a comprehensive program implemented by TJ International, Inc., to provide its nonemployee directors in Guam with an attractive stock option package. This plan aims to enhance the compensation and align the interests of the nonemployee directors with the long-term success of the company. By offering stock options, TJ International, Inc., seeks to motivate and retain talented individuals who contribute significantly to the organization's growth. Under this plan, Guam nonemployee directors are granted the opportunity to acquire company stocks at designated prices within specified timeframes. This program holds several types of stock options, each designed to offer unique benefits. 1. Stock Option Grants: The Guam Nonemployee Directors Stock Plan includes stock option grants, which enable nonemployee directors to purchase company shares at a predetermined exercise price during a specific duration. These grants have a vesting period, after which the directors gain the rights to exercise the options. 2. Performance-Based Stock Options: TJ International, Inc., also incorporates performance-based stock options within the Nonemployee Directors Stock Plan. These options are granted based on specific performance criteria established by the company. If the predetermined performance targets are met, the directors gain the ability to exercise these options at the designated exercise price. 3. Restricted Stock Units (RSS): Another aspect of the Guam Nonemployee Directors Stock Plan is the provision of restricted stock units. RSS represents a promise to deliver company shares to nonemployee directors upon satisfying predefined vesting requirements. These units offer an excellent opportunity for directors to receive company stocks as an incentive for their valuable contributions to TJ International, Inc. 4. Stock Appreciation Rights (SARS): The plan may also include stock appreciation rights, which grant the nonemployee directors the ability to receive the equivalent value of the appreciation in the company's stock price since the grant date. These rights are typically exercised by exchanging them for company shares or in cash. 5. Dividend Equivalents: Dividend equivalents are another component of the Guam Nonemployee Directors Stock Plan. This aspect entitles nonemployee directors to receive payments equal to the dividends declared on the company's common stock. These equivalents act as an additional benefit, reflecting the performance and success of TJ International, Inc. Overall, the Guam Nonemployee Directors Stock Plan of TJ International, Inc., provides attractive stock options and incentives for nonemployee directors in Guam. Through a variety of grants, options, and units, this plan effectively aligns the directors' interests with the long-term prosperity of the company.