Maine 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 Maine Nonemployee Director Stock Option Plan of U.S. Ban corp is a compensation plan designed for nonemployee directors who serve on the board of U.S. Ban corp, a leading financial services company operating in the United States. This plan enables nonemployee directors to receive stock options as a part of their overall compensation package, providing them with an opportunity to share in the company's future success and align their interests with those of the shareholders. Under this plan, nonemployee directors are granted stock options, which allow them to purchase a specified number of shares of U.S. Ban corp's common stock at a predetermined price, referred to as the exercise price. These stock options typically have a vesting period, during which the nonemployee directors must fulfill specific service requirements or meet certain performance goals to become eligible to exercise their stock options. The Maine Nonemployee Director Stock Option Plan is a specific variation of the U.S. Ban corp's broader Nonemployee Director Stock Option Plan, tailored to meet the regulatory requirements or specific considerations related to the state of Maine. This ensures compliance with the local laws and regulations while providing the nonemployee directors with similar benefits and opportunities as offered under the main plan. Different types or features of the Maine Nonemployee Director Stock Option Plan may include: 1. Grant size: The plan might include different grant sizes depending on the director's level of experience, specific committee assignments, or tenure on the board. 2. Vesting schedule: The plan may outline a specific vesting schedule, indicating the time frame or milestones that the nonemployee directors must achieve to become eligible for the stock option exercise. 3. Exercise price: The plan may establish a predetermined exercise price at which the nonemployee directors can purchase the stock. This price is typically set at the fair market value of the company's stock on the grant date. 4. Exercise period: The plan may specify a defined period during which the stock options can be exercised. Typically, this period begins after the vested options become exercisable and may extend for a certain number of years. 5. Termination provisions: The plan may outline the conditions under which the stock options may be terminated or forfeited, such as termination of the nonemployee director's service on the board. It is important to review the specific terms and provisions of the Maine Nonemployee Director Stock Option Plan of U.S. Ban corp for a comprehensive understanding of the plan's features, requirements, and any additional variations unique to Maine.

Maine Nonemployee Director Stock Option Plan of U.S. Ban corp is a compensation plan designed for nonemployee directors who serve on the board of U.S. Ban corp, a leading financial services company operating in the United States. This plan enables nonemployee directors to receive stock options as a part of their overall compensation package, providing them with an opportunity to share in the company's future success and align their interests with those of the shareholders. Under this plan, nonemployee directors are granted stock options, which allow them to purchase a specified number of shares of U.S. Ban corp's common stock at a predetermined price, referred to as the exercise price. These stock options typically have a vesting period, during which the nonemployee directors must fulfill specific service requirements or meet certain performance goals to become eligible to exercise their stock options. The Maine Nonemployee Director Stock Option Plan is a specific variation of the U.S. Ban corp's broader Nonemployee Director Stock Option Plan, tailored to meet the regulatory requirements or specific considerations related to the state of Maine. This ensures compliance with the local laws and regulations while providing the nonemployee directors with similar benefits and opportunities as offered under the main plan. Different types or features of the Maine Nonemployee Director Stock Option Plan may include: 1. Grant size: The plan might include different grant sizes depending on the director's level of experience, specific committee assignments, or tenure on the board. 2. Vesting schedule: The plan may outline a specific vesting schedule, indicating the time frame or milestones that the nonemployee directors must achieve to become eligible for the stock option exercise. 3. Exercise price: The plan may establish a predetermined exercise price at which the nonemployee directors can purchase the stock. This price is typically set at the fair market value of the company's stock on the grant date. 4. Exercise period: The plan may specify a defined period during which the stock options can be exercised. Typically, this period begins after the vested options become exercisable and may extend for a certain number of years. 5. Termination provisions: The plan may outline the conditions under which the stock options may be terminated or forfeited, such as termination of the nonemployee director's service on the board. It is important to review the specific terms and provisions of the Maine Nonemployee Director Stock Option Plan of U.S. Ban corp for a comprehensive understanding of the plan's features, requirements, and any additional variations unique to Maine.