Nevada 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 Nevada Nonemployee Directors Stock Option Plan of National Surgery Centers, Inc. is a comprehensive program designed to incentivize and reward nonemployee directors for their contributions and dedication to the company's success. This plan allows nonemployee directors to acquire stock options, which grant them the right to purchase company stock at a predetermined price within a specified timeframe. Under this plan, nonemployee directors of National Surgery Centers, Inc. are granted stock options as part of their compensation package. These options provide them with the opportunity to benefit from the company's growth and profitability by buying company stock at a discounted price. By aligning the interests of nonemployee directors with the company's shareholders, this plan promotes a strong sense of ownership and encourages sustained commitment to the organization's growth and long-term goals. The Nevada Nonemployee Directors Stock Option Plan may consist of various types of stock options, including: 1. Nonqualified Stock Options (SOS): These stock options do not qualify for special tax treatment upon exercise. Nonemployee directors can purchase company stock at a predetermined price, usually the fair market value of the stock at the time of grant. 2. Incentive Stock Options (SOS): These stock options provide certain tax advantages for nonemployee directors. To qualify for preferential tax treatment, SOS must meet specific Internal Revenue Service (IRS) requirements, such as holding the stock for a certain period before selling it. 3. Performance-based Stock Options: National Surgery Centers, Inc. may also implement performance-based stock options as part of this plan. These options are granted based on certain performance criteria, such as achieving predetermined financial targets or meeting key strategic objectives. Performance-based options align nonemployee directors' incentives closely with the company's performance and encourage them to contribute to its overall success. 4. Restricted Stock Units (RSS): In addition to stock options, the Nevada Nonemployee Directors Stock Option Plan may include RSS. These units represent the right to receive company stock at a future date, subject to vesting requirements. RSS typically vest over a period of time or upon the achievement of specific performance goals, ensuring that nonemployee directors have a long-term stake in the company's performance. Through the Nevada Nonemployee Directors Stock Option Plan, National Surgery Centers, Inc. aims to attract and retain qualified board members who can bring valuable expertise and contribute to the company's growth. By offering stock options and aligning their interests with shareholders, this plan serves as a powerful tool for motivating nonemployee directors and fostering a strong sense of ownership within the organization.

The Nevada Nonemployee Directors Stock Option Plan of National Surgery Centers, Inc. is a comprehensive program designed to incentivize and reward nonemployee directors for their contributions and dedication to the company's success. This plan allows nonemployee directors to acquire stock options, which grant them the right to purchase company stock at a predetermined price within a specified timeframe. Under this plan, nonemployee directors of National Surgery Centers, Inc. are granted stock options as part of their compensation package. These options provide them with the opportunity to benefit from the company's growth and profitability by buying company stock at a discounted price. By aligning the interests of nonemployee directors with the company's shareholders, this plan promotes a strong sense of ownership and encourages sustained commitment to the organization's growth and long-term goals. The Nevada Nonemployee Directors Stock Option Plan may consist of various types of stock options, including: 1. Nonqualified Stock Options (SOS): These stock options do not qualify for special tax treatment upon exercise. Nonemployee directors can purchase company stock at a predetermined price, usually the fair market value of the stock at the time of grant. 2. Incentive Stock Options (SOS): These stock options provide certain tax advantages for nonemployee directors. To qualify for preferential tax treatment, SOS must meet specific Internal Revenue Service (IRS) requirements, such as holding the stock for a certain period before selling it. 3. Performance-based Stock Options: National Surgery Centers, Inc. may also implement performance-based stock options as part of this plan. These options are granted based on certain performance criteria, such as achieving predetermined financial targets or meeting key strategic objectives. Performance-based options align nonemployee directors' incentives closely with the company's performance and encourage them to contribute to its overall success. 4. Restricted Stock Units (RSS): In addition to stock options, the Nevada Nonemployee Directors Stock Option Plan may include RSS. These units represent the right to receive company stock at a future date, subject to vesting requirements. RSS typically vest over a period of time or upon the achievement of specific performance goals, ensuring that nonemployee directors have a long-term stake in the company's performance. Through the Nevada Nonemployee Directors Stock Option Plan, National Surgery Centers, Inc. aims to attract and retain qualified board members who can bring valuable expertise and contribute to the company's growth. By offering stock options and aligning their interests with shareholders, this plan serves as a powerful tool for motivating nonemployee directors and fostering a strong sense of ownership within the organization.