Kansas 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 National Surgery Centers, Inc. in Kansas offers a unique stock option plan specifically designed for nonemployee directors. This plan serves as a valuable compensation tool to attract and retain talented individuals who contribute essential expertise and guidance to the company's strategic decision-making process. The Kansas Nonemployee Directors Stock Option Plan of National Surgery Centers, Inc. allows eligible nonemployee directors to receive stock options as part of their overall compensation package. This benefit provides an opportunity for directors to acquire company stock at a set price within a specified time frame. By offering stock options, National Surgery Centers, Inc. aligns the interests of its nonemployee directors with the company's long-term growth and success. The plan incorporates various key elements to ensure its effectiveness and fairness. It outlines the eligibility requirements, vesting schedule, exercise price, and expiration period for the stock options. Eligible nonemployee directors must meet certain criteria, such as serving on the company's board of directors and contributing to the company's objectives and strategic plans. The Kansas Nonemployee Directors Stock Option Plan may encompass different types of stock options, such as: 1. Nonqualified Stock Options (Nests): These options allow nonemployee directors to purchase company stock at a predetermined price (the exercise price) during a specified period. Nonqualified stock options provide flexibility regarding exercise and tax implications. 2. Incentive Stock Options (SOS): In some cases, National Surgery Centers, Inc. may choose to include SOS as part of the stock option plan. SOS have specific tax advantages and are subject to specific statutory requirements outlined by the Internal Revenue Code. 3. Restricted Stock Units (RSS): Instead of traditional stock options, the plan might also offer RSS to nonemployee directors. RSS represents a promise to deliver company stock at a future date or upon the achievement of certain performance or time-related conditions. 4. Performance-Based Stock Options: National Surgery Centers, Inc. may introduce performance-based stock options, linking the stock option grant to the achievement of specific predetermined performance objectives, such as revenue targets, profitability goals, or market share growth. It is important to note that the specific details and characteristics of the Kansas Nonemployee Directors Stock Option Plan of National Surgery Centers, Inc. may vary, as they are subject to the company's discretion and can be shaped according to legal, financial, and strategic considerations.