Michigan Nonemployee Director Stock Plan of Donnelley Enterprise Solutions, Inc.

• Category: Corporations - Public - Stock Options
• State: Multi-State
• Control #: US-CC-18-183C
• Format: Word; Rich Text

Description

18-183C 18-183C . . . Non-employee Director Stock Plan under which on date of Stockholders Meeting at which this proposal is adopted (or, if later, on date on which person is first elected or begins to serve as Non-employee director) each person who is Non-employee director immediately after such Stockholders Meeting will be granted an option to purchase 5,000 shares of common stock, and on date of each annual stockholders meeting thereafter, each person who is Non-employee director after such annual meeting shall be granted option to purchase 5,000 shares of common stock, provided that such person has served as director for at least nine months prior to such annual meeting

The Michigan Nonemployee Director Stock Plan (NE DSP) of Donnelly Enterprise Solutions, Inc. is an employee benefit program specifically designed for nonemployee directors of the company who serve on its board. As part of this plan, eligible directors are granted the opportunity to receive compensation in the form of company stock. Under the NE DSP, nonemployee directors are granted stock options or direct stock awards as a means of recognizing and enhancing their contributions to Donnelly Enterprise Solutions, Inc. This program aims to align the interests of the nonemployee directors with those of the company's shareholders by making them stakeholders in the company's success. The stock options granted under the NE DSP provide the nonemployee directors with the right to purchase a specified number of shares of the company's stock at a predetermined exercise price. This allows the directors to benefit from any increase in the company's stock price over time. On the other hand, direct stock awards are issued as grants of actual company shares to the nonemployee directors. It's important to note that there are various types of Michigan Nonemployee Director Stock Plans of Donnelly Enterprise Solutions, Inc. These plans may differ in their specific terms and conditions, such as the number of shares granted, exercise price, vesting schedule, and other requirements. The different types of plans may include: 1. Michigan NE DSP Stock Option Plan: This plan enables nonemployee directors to receive stock options, allowing them to purchase a specified number of shares at an exercise price determined at the time of grant. 2. Michigan NE DSP Stock Award Plan: This plan provides nonemployee directors with direct stock awards, granting them a specified number of company shares without the need for purchase. 3. Michigan NE DSP Performance-Based Stock Plan: In this plan, nonemployee directors may be granted stock options or direct stock awards with additional conditions based on the company's performance metrics. These metrics could be related to financial targets, market share goals, or other key indicators of company success. The specific details and guidelines of the Michigan Nonemployee Director Stock Plan, including eligibility criteria, grant timing, and exercise or vesting schedules, can be found in the official plan documents provided by Donnelly Enterprise Solutions, Inc. It is important for nonemployee directors to carefully review the plan details to fully understand the benefits and obligations associated with participating in the stock plan.