Idaho 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 Idaho Nonemployee Directors Stock Option Plan is a specialized program offered by National Surgery Centers, Inc., designed to provide nonemployee directors of the company with stock options as part of their compensation package. This exceptional plan aims to incentivize nonemployee directors to contribute their expertise, dedication, and guidance to the successful growth and development of the organization. Under the Idaho Nonemployee Directors Stock Option Plan, eligible nonemployee directors are granted the opportunity to purchase a certain number of shares of National Surgery Centers, Inc. stock at a predetermined price, typically referred to as the exercise price. This exercise price is usually set at fair market value or a discounted rate to encourage participation and reward directors for their valued contributions. Nonemployee directors play a crucial role in shaping the strategic direction of National Surgery Centers, Inc., providing oversight, and making important governance decisions. Hence, the Idaho Nonemployee Directors Stock Option Plan serves as a mechanism to align the interests of these directors with the long-term success of the company. By making them shareholders through stock options, it ensures that they have a vested interest in the growth and financial performance of the organization. Participating nonemployee directors can exercise their stock options after a specific vesting period, during which they are required to fulfill certain service or performance-based requirements. This encourages continuity and dedication among directors, as it aligns incentives with their ongoing commitment to the company. The Idaho Nonemployee Directors Stock Option Plan may have different types or variations, tailored to the specific needs and goals of National Surgery Centers, Inc. These types can include: 1. Incentive Stock Options (SOS): These options provide certain tax advantages to nonemployee directors, qualifying them for potentially preferential tax treatment upon exercising their options. SOS typically have stricter requirements and limitations compared to other types of stock options. 2. Non-Qualified Stock Options (Nests): Unlike SOS, Nests do not offer any special tax benefits; however, they provide more flexibility in terms of exercise and vesting conditions. Nonemployee directors can exercise Nests at any time after they have vested. 3. Restricted Stock Units (RSS): Although not technically stock options, RSS are another form of equity-based compensation that National Surgery Centers, Inc. may offer to nonemployee directors. RSS represents a promise to deliver company stock at a future date, subject to certain conditions or milestones being met. It is important for nonemployee directors to thoroughly review and understand the terms and conditions of the Idaho Nonemployee Directors Stock Option Plan, including the applicable type of stock options, exercise price, vesting period, and any additional provisions unique to National Surgery Centers, Inc.'s program. This plan serves as a valuable tool to attract and retain top talent, aligning the interests of nonemployee directors with the company's overall objectives and success.

The Idaho Nonemployee Directors Stock Option Plan is a specialized program offered by National Surgery Centers, Inc., designed to provide nonemployee directors of the company with stock options as part of their compensation package. This exceptional plan aims to incentivize nonemployee directors to contribute their expertise, dedication, and guidance to the successful growth and development of the organization. Under the Idaho Nonemployee Directors Stock Option Plan, eligible nonemployee directors are granted the opportunity to purchase a certain number of shares of National Surgery Centers, Inc. stock at a predetermined price, typically referred to as the exercise price. This exercise price is usually set at fair market value or a discounted rate to encourage participation and reward directors for their valued contributions. Nonemployee directors play a crucial role in shaping the strategic direction of National Surgery Centers, Inc., providing oversight, and making important governance decisions. Hence, the Idaho Nonemployee Directors Stock Option Plan serves as a mechanism to align the interests of these directors with the long-term success of the company. By making them shareholders through stock options, it ensures that they have a vested interest in the growth and financial performance of the organization. Participating nonemployee directors can exercise their stock options after a specific vesting period, during which they are required to fulfill certain service or performance-based requirements. This encourages continuity and dedication among directors, as it aligns incentives with their ongoing commitment to the company. The Idaho Nonemployee Directors Stock Option Plan may have different types or variations, tailored to the specific needs and goals of National Surgery Centers, Inc. These types can include: 1. Incentive Stock Options (SOS): These options provide certain tax advantages to nonemployee directors, qualifying them for potentially preferential tax treatment upon exercising their options. SOS typically have stricter requirements and limitations compared to other types of stock options. 2. Non-Qualified Stock Options (Nests): Unlike SOS, Nests do not offer any special tax benefits; however, they provide more flexibility in terms of exercise and vesting conditions. Nonemployee directors can exercise Nests at any time after they have vested. 3. Restricted Stock Units (RSS): Although not technically stock options, RSS are another form of equity-based compensation that National Surgery Centers, Inc. may offer to nonemployee directors. RSS represents a promise to deliver company stock at a future date, subject to certain conditions or milestones being met. It is important for nonemployee directors to thoroughly review and understand the terms and conditions of the Idaho Nonemployee Directors Stock Option Plan, including the applicable type of stock options, exercise price, vesting period, and any additional provisions unique to National Surgery Centers, Inc.'s program. This plan serves as a valuable tool to attract and retain top talent, aligning the interests of nonemployee directors with the company's overall objectives and success.