Minnesota Nonemployee Directors Stock Option Plan of National Surgery Centers, Inc.

• Category: Corporations - Public - Stock Options
• State: Multi-State
• Control #: US-CC-18-185C
• Format: Word; Rich Text

Description

18-185C 18-185C . . . Non-employee Directors Stock Option Plan under which Class II Non-employee directors receive options for 5,000 shares, all fully vested; Class II Non-employee directors receive options for 7,500 shares, of which 5,000 are fully vested and 2,500 vest on date of 1997 annual stockholders meeting; and Class I Non-employee directors receive options for 10,000 shares, of which 5,000 are fully vested, 2,500 vest on date of 1997 annual stockholders meeting, and 2,500 vest on date of 1998 annual stockholders meeting. Thereafter, each Non-employee director automatically receives an option on his or her election or re-election as director. Each such option is for 7,500 shares if director is elected to full three year term, of which 2,500 is vested, 2,500 vests on first anniversary of grant, and 2,500 vests on second anniversary of grant. If director is elected to fill term of less than three years, number of shares is equal to 2,500 for each full year of his or her term The Minnesota Nonemployee Directors Stock Option Plan is a comprehensive program offered by National Surgery Centers, Inc. It is designed to provide eligible nonemployee directors of the company with stock options as a form of compensation. This plan aims to attract and retain experienced and talented individuals to serve on the board of directors. Under the Minnesota Nonemployee Directors Stock Option Plan, eligible directors are granted the opportunity to purchase a specified number of company stocks at a predetermined price. These stock options typically have a vesting period, during which the director must continue their service on the board to fully exercise the options. The plan offers various types of stock options, each with its own specific features and benefits. Some types of Minnesota Nonemployee Directors Stock Option Plan of National Surgery Centers, Inc. options include: 1. Incentive Stock Options (SOS): These are tax-advantaged stock options that provide potential tax benefits to the director. SOS are subject to specific requirements outlined by the Internal Revenue Code. 2. Nonqualified Stock Options (SOS): Unlike SOS, SOS do not offer the same tax advantages. However, they are more flexible in terms of grant size and eligibility criteria. 3. Restricted Stock Unit Awards: In addition to traditional stock options, the plan may also provide for the issuance of restricted stock units (RSS). RSS represents the right to receive company stock at a future date, subject to certain vesting conditions. They are a popular alternative to options. 4. Performance-Based Stock Options: National Surgery Centers, Inc. may also offer performance-based stock options under the plan. These options are granted based on pre-determined performance metrics, such as meeting specific financial targets or achieving strategic milestones. The Minnesota Nonemployee Directors Stock Option Plan serves as a valuable tool for attracting and retaining top talent on the company's board of directors. It incentivizes nonemployee directors by allowing them to share in the company's success and aligns their interests with the long-term growth and profitability of National Surgery Centers, Inc. Disclaimer: The specific details and variations of the Minnesota Nonemployee Directors Stock Option Plan of National Surgery Centers, Inc. may be subject to change or additional customization based on the company's specific circumstances and legal requirements. It is advisable to refer to the official plan document and consult with legal and financial experts for accurate and up-to-date information.

The Minnesota Nonemployee Directors Stock Option Plan is a comprehensive program offered by National Surgery Centers, Inc. It is designed to provide eligible nonemployee directors of the company with stock options as a form of compensation. This plan aims to attract and retain experienced and talented individuals to serve on the board of directors. Under the Minnesota Nonemployee Directors Stock Option Plan, eligible directors are granted the opportunity to purchase a specified number of company stocks at a predetermined price. These stock options typically have a vesting period, during which the director must continue their service on the board to fully exercise the options. The plan offers various types of stock options, each with its own specific features and benefits. Some types of Minnesota Nonemployee Directors Stock Option Plan of National Surgery Centers, Inc. options include: 1. Incentive Stock Options (SOS): These are tax-advantaged stock options that provide potential tax benefits to the director. SOS are subject to specific requirements outlined by the Internal Revenue Code. 2. Nonqualified Stock Options (SOS): Unlike SOS, SOS do not offer the same tax advantages. However, they are more flexible in terms of grant size and eligibility criteria. 3. Restricted Stock Unit Awards: In addition to traditional stock options, the plan may also provide for the issuance of restricted stock units (RSS). RSS represents the right to receive company stock at a future date, subject to certain vesting conditions. They are a popular alternative to options. 4. Performance-Based Stock Options: National Surgery Centers, Inc. may also offer performance-based stock options under the plan. These options are granted based on pre-determined performance metrics, such as meeting specific financial targets or achieving strategic milestones. The Minnesota Nonemployee Directors Stock Option Plan serves as a valuable tool for attracting and retaining top talent on the company's board of directors. It incentivizes nonemployee directors by allowing them to share in the company's success and aligns their interests with the long-term growth and profitability of National Surgery Centers, Inc. Disclaimer: The specific details and variations of the Minnesota Nonemployee Directors Stock Option Plan of National Surgery Centers, Inc. may be subject to change or additional customization based on the company's specific circumstances and legal requirements. It is advisable to refer to the official plan document and consult with legal and financial experts for accurate and up-to-date information.