Mississippi Stock Option Plan of Stewart Information Services Corp. for Region Managers

• Category: Corporations - Public - Stock Options
• State: Multi-State
• Control #: US-CC-18-365B
• Format: Word; Rich Text

Description

18-365B 18-365B . . . Stock Option Plan for Region Managers under which Compensation Committee may grant Incentive and Non-qualified Stock Options to full-time key employees who are employed at time of grant as Region Managers or equivalent position. In determining number of shares subject to an option granted in any given year to a particular Region Manager, Committee shall consider whether (a) pretax profits in Region Manager's territory have increased over prior year, (b) cash received by corporation from Region Manager's territory has increased over prior year, (c) percentage of claim dollars to revenues in Region Manager's territory has decreased over prior year, (d) delinquencies have decreased or maintained at zero level from prior year, (e) market share has increased in Region Manager's territory over prior year, (f) Region Manager has made efforts to expand territory through expansion of markets and/or sale of new products, (g) Region Manager's territory complies with corporation policy relating to agency visits, audits, automation, training, and benefit participation, and (h) Region Manager incorporates corporation's goals and strategies into goals for his territory

The Mississippi Stock Option Plan of Stewart Information Services Corp. for Region Managers is a comprehensive compensation program designed to incentivize and reward the region managers of Stewart Information Services Corp. in the state of Mississippi. This plan offers eligible region managers the opportunity to acquire company stock options, providing them with the potential for financial growth and increased ownership in the company. Through the Mississippi Stock Option Plan, region managers are granted the right to purchase a specified number of shares of Stewart Information Services Corp. stock at a predetermined price, referred to as the exercise price. These stock options typically have a specific vesting period, during which region managers need to fulfill certain conditions, such as remaining employed with the company or achieving certain performance targets, to exercise their options. The Mississippi Stock Option Plan aims to align the region managers' interests with that of the company's shareholders by incentivizing them to contribute to the long-term success and profitability of Stewart Information Services Corp. Additionally, this program plays a pivotal role in attracting and retaining talented region managers by offering them a unique opportunity to share in the financial success of the company. It is worth noting that there may be variations or different types of stock option plans within the Mississippi Stock Option Plan of Stewart Information Services Corp. for Region Managers. Some of these plans could include: 1. Incentive Stock Options (SOS): These options provide certain tax advantages to the region managers if specific requirements outlined by the Internal Revenue Service (IRS) are met. SOS may require a longer vesting period and are usually granted at the discretion of the company's board of directors. 2. Non-Qualified Stock Options (Nests): Unlike SOS, Nests do not have to comply with the IRS requirements. These stock options can be more flexible in their terms, allowing region managers to exercise their options at their convenience, subject to certain conditions and restrictions. 3. Performance-based Stock Options: These types of stock options are tied to specific performance targets, such as achieving revenue goals or increasing market share. Region managers must meet or exceed these predefined objectives to exercise their options, linking their compensation directly to the company's performance. The Mississippi Stock Option Plan of Stewart Information Services Corp. for Region Managers serves as an essential tool in attracting, motivating, and retaining top talent within the organization. It encourages long-term commitment, aligns the interests of region managers with the company's shareholders, and provides an opportunity for financial growth based on the success of Stewart Information Services Corp.