Oklahoma 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 Oklahoma Nonemployee Directors Stock Option Plan of National Surgery Centers, Inc. (SCI) is a comprehensive compensation program designed to reward non-employee directors for their valuable contributions to the company. This plan provides non-employee directors with stock options as a means of aligning their interests with the long-term growth and success of SCI. Under the Oklahoma Nonemployee Directors Stock Option Plan, eligible non-employee directors are granted the opportunity to purchase a specific number of SCI shares at a predetermined price. These stock options offer non-employee directors the right to buy SCI stock in the future, typically within a specified period, at a pre-established exercise price. By granting stock options, SCI aims to motivate non-employee directors to make decisions that enhance shareholder value and advance the company's strategic objectives. The Oklahoma Nonemployee Directors Stock Option Plan allows for various types of stock options, including: 1. Non-Qualified Stock Options (Nests): Nests are stock options that do not meet certain requirements set by the Internal Revenue Service (IRS) to qualify for special tax treatment. With Nests, non-employee directors have the flexibility to exercise their options at any time, subject to vesting schedules and other terms specified in the plan. 2. Incentive Stock Options (SOS): SOS are stock options that meet specific IRS criteria and offer potential tax advantages to the recipients. Non-employee directors who are granted SOS may benefit from favorable tax treatment if they meet specific holding period requirements. SOS generally have stricter rules regarding exercise and sale compared to Nests. 3. Performance-Based Stock Options: SCI may also offer performance-based stock options to non-employee directors. These options are typically tied to predefined performance goals, such as achieving certain financial targets or meeting specific operational milestones. Performance-based stock options provide an additional incentive for non-employee directors to actively contribute to SCI's growth and success. The Oklahoma Nonemployee Directors Stock Option Plan aims to attract and retain highly qualified non-employee directors by providing them with an opportunity to share in SCI's success. By offering stock options, SCI fosters a sense of ownership among its directors, aligning their interests with those of SCI's shareholders. This compensation program ensures that non-employee directors have a vested interest in making decisions that drive sustainable growth, profitability, and enhance shareholder value.

The Oklahoma Nonemployee Directors Stock Option Plan of National Surgery Centers, Inc. (SCI) is a comprehensive compensation program designed to reward non-employee directors for their valuable contributions to the company. This plan provides non-employee directors with stock options as a means of aligning their interests with the long-term growth and success of SCI. Under the Oklahoma Nonemployee Directors Stock Option Plan, eligible non-employee directors are granted the opportunity to purchase a specific number of SCI shares at a predetermined price. These stock options offer non-employee directors the right to buy SCI stock in the future, typically within a specified period, at a pre-established exercise price. By granting stock options, SCI aims to motivate non-employee directors to make decisions that enhance shareholder value and advance the company's strategic objectives. The Oklahoma Nonemployee Directors Stock Option Plan allows for various types of stock options, including: 1. Non-Qualified Stock Options (Nests): Nests are stock options that do not meet certain requirements set by the Internal Revenue Service (IRS) to qualify for special tax treatment. With Nests, non-employee directors have the flexibility to exercise their options at any time, subject to vesting schedules and other terms specified in the plan. 2. Incentive Stock Options (SOS): SOS are stock options that meet specific IRS criteria and offer potential tax advantages to the recipients. Non-employee directors who are granted SOS may benefit from favorable tax treatment if they meet specific holding period requirements. SOS generally have stricter rules regarding exercise and sale compared to Nests. 3. Performance-Based Stock Options: SCI may also offer performance-based stock options to non-employee directors. These options are typically tied to predefined performance goals, such as achieving certain financial targets or meeting specific operational milestones. Performance-based stock options provide an additional incentive for non-employee directors to actively contribute to SCI's growth and success. The Oklahoma Nonemployee Directors Stock Option Plan aims to attract and retain highly qualified non-employee directors by providing them with an opportunity to share in SCI's success. By offering stock options, SCI fosters a sense of ownership among its directors, aligning their interests with those of SCI's shareholders. This compensation program ensures that non-employee directors have a vested interest in making decisions that drive sustainable growth, profitability, and enhance shareholder value.