Michigan 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 Michigan Nonemployee Directors Stock Plan is an integral part of TJ International, Inc., a well-known company based in the state of Michigan. This plan aims to provide a means of compensation to the nonemployee directors serving on the company's board. These directors play a critical role in the decision-making process and strategic planning of TJ International, Inc. Under the Michigan Nonemployee Directors Stock Plan, nonemployee directors are awarded stock options or restricted stock units (RSS) as compensation for their services. This serves as a way to align their interests with the long-term success of the company. These stock options or RSS are granted at the discretion of the board's compensation committee, and the number of shares granted is dependent on various factors such as the director's tenure and the company's performance. The Michigan Nonemployee Directors Stock Plan offers several types of awards to nonemployee directors, including stock options, RSS, and other equity-based awards. Stock options give the directors the right to purchase company stock at a specific price, known as the exercise price, within a defined period. RSS, on the other hand, represents a promise to deliver stock to the directors at a later date upon vesting. The awards granted under the Michigan Nonemployee Directors Stock Plan are subject to a vesting period, which ensures that the directors remain actively involved with the company. Once the specified vesting requirements are met, the directors gain full ownership and control over the granted shares. The plan also includes provisions for change of control events, such as mergers or acquisitions. In such circumstances, the directors may be entitled to accelerated vesting of their awards, ensuring they are fairly compensated in the event of a significant corporate change. The Michigan Nonemployee Directors Stock Plan underscores TJ International, Inc.'s commitment to attracting and retaining top talent for its board of directors. By offering stock-based compensation, the plan incentivizes nonemployee directors to contribute their expertise and judgment to the company's success. This aligns their financial interests with the company's goals, fostering a culture of shared ownership and accountability. In summary, the Michigan Nonemployee Directors Stock Plan of TJ International, Inc. is a comprehensive compensation program that awards stock options, RSS, and other equity-based awards to nonemployee directors. It aims to attract and retain talented individuals on the board, aligning their interests with the long-term success of the company.

The Michigan Nonemployee Directors Stock Plan is an integral part of TJ International, Inc., a well-known company based in the state of Michigan. This plan aims to provide a means of compensation to the nonemployee directors serving on the company's board. These directors play a critical role in the decision-making process and strategic planning of TJ International, Inc. Under the Michigan Nonemployee Directors Stock Plan, nonemployee directors are awarded stock options or restricted stock units (RSS) as compensation for their services. This serves as a way to align their interests with the long-term success of the company. These stock options or RSS are granted at the discretion of the board's compensation committee, and the number of shares granted is dependent on various factors such as the director's tenure and the company's performance. The Michigan Nonemployee Directors Stock Plan offers several types of awards to nonemployee directors, including stock options, RSS, and other equity-based awards. Stock options give the directors the right to purchase company stock at a specific price, known as the exercise price, within a defined period. RSS, on the other hand, represents a promise to deliver stock to the directors at a later date upon vesting. The awards granted under the Michigan Nonemployee Directors Stock Plan are subject to a vesting period, which ensures that the directors remain actively involved with the company. Once the specified vesting requirements are met, the directors gain full ownership and control over the granted shares. The plan also includes provisions for change of control events, such as mergers or acquisitions. In such circumstances, the directors may be entitled to accelerated vesting of their awards, ensuring they are fairly compensated in the event of a significant corporate change. The Michigan Nonemployee Directors Stock Plan underscores TJ International, Inc.'s commitment to attracting and retaining top talent for its board of directors. By offering stock-based compensation, the plan incentivizes nonemployee directors to contribute their expertise and judgment to the company's success. This aligns their financial interests with the company's goals, fostering a culture of shared ownership and accountability. In summary, the Michigan Nonemployee Directors Stock Plan of TJ International, Inc. is a comprehensive compensation program that awards stock options, RSS, and other equity-based awards to nonemployee directors. It aims to attract and retain talented individuals on the board, aligning their interests with the long-term success of the company.