Kentucky 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 Kentucky Nonemployee Director Stock Option Plan of U.S. Ban corp is a comprehensive program designed to incentivize nonemployee directors by providing them with stock options in the company. These options give them the right to purchase shares of U.S. Ban corp stock at a pre-determined price for a specified period. As a part of this plan, U.S. Ban corp offers various types of stock options to nonemployee directors based in Kentucky. These options include: 1. Standard Stock Options: Under this type, nonemployee directors are granted the right to purchase a specific number of U.S. Ban corp shares at a predetermined price, the exercise price. These options typically vest over a specified period, often gradually over several years. 2. Performance-Based Stock Options: U.S. Ban corp may also grant performance-based stock options to nonemployee directors in Kentucky. These options are contingent upon the achievement of certain predetermined performance goals or milestones, such as financial targets or stock price appreciation. Once the goals are met, the nonemployee directors can exercise their options and purchase the company's stock at a predetermined price. 3. Restricted Stock Units (RSS): In addition to stock options, U.S. Ban corp may award nonemployee directors with restricted stock units. RSS represents a promise to deliver shares of U.S. Ban corp stock at a future date, typically upon vesting. Unlike stock options, RSS do not require any upfront payment or exercise price. 4. Stock Appreciation Rights (SARS): SARS are another type of stock-based compensation available under U.S. Ban corp's Kentucky Nonemployee Director Stock Option Plan. SARS provide nonemployee directors with the opportunity to receive the appreciation in the value of U.S. Ban corp stock over a specified period. Upon exercise, the nonemployee directors can either receive cash or stock equivalent to the appreciation value. The Kentucky Nonemployee Director Stock Option Plan of U.S. Ban corp aims to align the interests of nonemployee directors with those of the company's shareholders. By granting stock options, RSS, or SARS, U.S. Ban corp encourages nonemployee directors to contribute to the long-term success and growth of the company. These compensation options help attract and retain talented individuals, ensuring a diverse and knowledgeable board of directors in Kentucky.

The Kentucky Nonemployee Director Stock Option Plan of U.S. Ban corp is a comprehensive program designed to incentivize nonemployee directors by providing them with stock options in the company. These options give them the right to purchase shares of U.S. Ban corp stock at a pre-determined price for a specified period. As a part of this plan, U.S. Ban corp offers various types of stock options to nonemployee directors based in Kentucky. These options include: 1. Standard Stock Options: Under this type, nonemployee directors are granted the right to purchase a specific number of U.S. Ban corp shares at a predetermined price, the exercise price. These options typically vest over a specified period, often gradually over several years. 2. Performance-Based Stock Options: U.S. Ban corp may also grant performance-based stock options to nonemployee directors in Kentucky. These options are contingent upon the achievement of certain predetermined performance goals or milestones, such as financial targets or stock price appreciation. Once the goals are met, the nonemployee directors can exercise their options and purchase the company's stock at a predetermined price. 3. Restricted Stock Units (RSS): In addition to stock options, U.S. Ban corp may award nonemployee directors with restricted stock units. RSS represents a promise to deliver shares of U.S. Ban corp stock at a future date, typically upon vesting. Unlike stock options, RSS do not require any upfront payment or exercise price. 4. Stock Appreciation Rights (SARS): SARS are another type of stock-based compensation available under U.S. Ban corp's Kentucky Nonemployee Director Stock Option Plan. SARS provide nonemployee directors with the opportunity to receive the appreciation in the value of U.S. Ban corp stock over a specified period. Upon exercise, the nonemployee directors can either receive cash or stock equivalent to the appreciation value. The Kentucky Nonemployee Director Stock Option Plan of U.S. Ban corp aims to align the interests of nonemployee directors with those of the company's shareholders. By granting stock options, RSS, or SARS, U.S. Ban corp encourages nonemployee directors to contribute to the long-term success and growth of the company. These compensation options help attract and retain talented individuals, ensuring a diverse and knowledgeable board of directors in Kentucky.