North Carolina 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 The North Carolina Nonemployee Director Stock Option Plan of U.S. Ban corp is a compensation plan designed for nonemployee directors of the company based in North Carolina. This stock option plan offers nonemployee directors the opportunity to purchase shares of the company's stock at a predetermined price. Under the North Carolina Nonemployee Director Stock Option Plan, nonemployee directors are granted stock options as a form of compensation. These options provide the directors with the right to purchase a specified number of shares of U.S. Ban corp stock at a predetermined exercise price. The exercise price is typically set at the fair market value of the stock on the date of the grant. One of the key features of this plan is that the stock options are typically subject to a vesting period. This means that the nonemployee directors are required to fulfill certain conditions, such as serving on the board of directors for a specified period of time or achieving specific performance goals, before they can exercise their stock options. The vesting schedule may vary depending on the specific terms of the plan. The North Carolina Nonemployee Director Stock Option Plan is designed to align the interests of nonemployee directors with the company's shareholders. By providing stock options as a form of compensation, U.S. Ban corp aims to motivate nonemployee directors to contribute to the company's long-term success and to increase shareholder value. It is worth mentioning that there may be different variations or series of the North Carolina Nonemployee Director Stock Option Plan of U.S. Ban corp. These variations could include different vesting schedules, exercise prices, or other terms and conditions. It is recommended to review the specific plan document or consult with the company directly for accurate information on any specific types or series of the plan.

The North Carolina Nonemployee Director Stock Option Plan of U.S. Ban corp is a compensation plan designed for nonemployee directors of the company based in North Carolina. This stock option plan offers nonemployee directors the opportunity to purchase shares of the company's stock at a predetermined price. Under the North Carolina Nonemployee Director Stock Option Plan, nonemployee directors are granted stock options as a form of compensation. These options provide the directors with the right to purchase a specified number of shares of U.S. Ban corp stock at a predetermined exercise price. The exercise price is typically set at the fair market value of the stock on the date of the grant. One of the key features of this plan is that the stock options are typically subject to a vesting period. This means that the nonemployee directors are required to fulfill certain conditions, such as serving on the board of directors for a specified period of time or achieving specific performance goals, before they can exercise their stock options. The vesting schedule may vary depending on the specific terms of the plan. The North Carolina Nonemployee Director Stock Option Plan is designed to align the interests of nonemployee directors with the company's shareholders. By providing stock options as a form of compensation, U.S. Ban corp aims to motivate nonemployee directors to contribute to the company's long-term success and to increase shareholder value. It is worth mentioning that there may be different variations or series of the North Carolina Nonemployee Director Stock Option Plan of U.S. Ban corp. These variations could include different vesting schedules, exercise prices, or other terms and conditions. It is recommended to review the specific plan document or consult with the company directly for accurate information on any specific types or series of the plan.