Massachusetts 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 Massachusetts Nonemployee Directors Stock Plan of TJ International, Inc. is a comprehensive program specifically designed to reward and incentivize nonemployee directors of the company residing in Massachusetts. This stock plan aims to align the interests of these directors with the long-term success and growth of TJ International, Inc. This plan offers nonemployee directors the opportunity to acquire company stock, allowing them to share in the company's progress and financial success. By doing so, TJ International, Inc. intends to attract, retain, and motivate exceptional directors, ensuring their expertise and perspectives contribute to the company's ongoing success. Key features of the Massachusetts Nonemployee Directors Stock Plan include stock option grants and restricted stock units (RSS). These grants are typically made at the discretion of the company's Compensation Committee and are subject to certain terms and conditions. The stock option grants allow nonemployee directors to purchase a specified number of shares of TJ International, Inc.'s common stock at a predetermined price, known as the exercise price. This allows directors to benefit from any appreciation in the company's stock over time. The exercise price and vesting schedule, which determines when the options become exercisable, are usually determined by the Compensation Committee. On the other hand, the RSS provide nonemployee directors with a specified number of shares of company stock, which are granted without requiring any upfront payment. However, this RSS typically vest over a period of time, subject to the directors' continued service on the board, aligning their interests with the company's long-term performance. It is important to note that the specifics of the Massachusetts Nonemployee Directors Stock Plan may vary based on the company's particular requirements, regulations, and the needs of the directors. This plan is implemented in compliance with applicable Massachusetts laws, ensuring transparency and fairness for all participating directors. Overall, the Massachusetts Nonemployee Directors Stock Plan provides a valuable opportunity for nonemployee directors of TJ International, Inc. to become financially invested in the success of the company. It serves as a powerful tool to attract and retain top talent, foster commitment, and align the interests of directors with those of shareholders.

The Massachusetts Nonemployee Directors Stock Plan of TJ International, Inc. is a comprehensive program specifically designed to reward and incentivize nonemployee directors of the company residing in Massachusetts. This stock plan aims to align the interests of these directors with the long-term success and growth of TJ International, Inc. This plan offers nonemployee directors the opportunity to acquire company stock, allowing them to share in the company's progress and financial success. By doing so, TJ International, Inc. intends to attract, retain, and motivate exceptional directors, ensuring their expertise and perspectives contribute to the company's ongoing success. Key features of the Massachusetts Nonemployee Directors Stock Plan include stock option grants and restricted stock units (RSS). These grants are typically made at the discretion of the company's Compensation Committee and are subject to certain terms and conditions. The stock option grants allow nonemployee directors to purchase a specified number of shares of TJ International, Inc.'s common stock at a predetermined price, known as the exercise price. This allows directors to benefit from any appreciation in the company's stock over time. The exercise price and vesting schedule, which determines when the options become exercisable, are usually determined by the Compensation Committee. On the other hand, the RSS provide nonemployee directors with a specified number of shares of company stock, which are granted without requiring any upfront payment. However, this RSS typically vest over a period of time, subject to the directors' continued service on the board, aligning their interests with the company's long-term performance. It is important to note that the specifics of the Massachusetts Nonemployee Directors Stock Plan may vary based on the company's particular requirements, regulations, and the needs of the directors. This plan is implemented in compliance with applicable Massachusetts laws, ensuring transparency and fairness for all participating directors. Overall, the Massachusetts Nonemployee Directors Stock Plan provides a valuable opportunity for nonemployee directors of TJ International, Inc. to become financially invested in the success of the company. It serves as a powerful tool to attract and retain top talent, foster commitment, and align the interests of directors with those of shareholders.