Oklahoma 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 Oklahoma Nonemployee Director Stock Option Plan is a specialized program offered by U.S. Ban corp, one of the leading financial institutions in the United States. This plan is designed exclusively for nonemployee directors of U.S. Ban corp who reside or perform services in Oklahoma. It provides these directors with the opportunity to acquire U.S. Ban corp common stock through stock options, which can function as a form of additional compensation. As part of this plan, participating nonemployee directors are granted stock options, which give them the right to purchase shares of U.S. Ban corp common stock at a predetermined price, known as the exercise price. The exercise price is typically the fair market value of the stock on the date of grant. These options generally have a specified vesting period, during which the nonemployee director must wait before being able to exercise the options and acquire the underlying shares. The Oklahoma Nonemployee Director Stock Option Plan aims to align the interests of nonemployee directors with those of the company's shareholders. By offering stock options, U.S. Ban corp encourages these directors to act in the best interests of the company, as the value of their stock options is linked to the performance and success of U.S. Ban corp's common stock. It is worth noting that there may be different variations or subplans under the overall Oklahoma Nonemployee Director Stock Option Plan of U.S. Ban corp. These variations could include different exercise prices, vesting schedules, or other terms and conditions tailored to meet the specific needs of individual nonemployee directors. However, specific details regarding any potential subplans under the overall Oklahoma Nonemployee Director Stock Option Plan are not readily available, as they may vary from director to director. Overall, the Oklahoma Nonemployee Director Stock Option Plan reflects U.S. Ban corp's commitment to providing competitive compensation packages to its nonemployee directors while also aligning their interests with the company's long-term success and shareholder value creation.

The Oklahoma Nonemployee Director Stock Option Plan is a specialized program offered by U.S. Ban corp, one of the leading financial institutions in the United States. This plan is designed exclusively for nonemployee directors of U.S. Ban corp who reside or perform services in Oklahoma. It provides these directors with the opportunity to acquire U.S. Ban corp common stock through stock options, which can function as a form of additional compensation. As part of this plan, participating nonemployee directors are granted stock options, which give them the right to purchase shares of U.S. Ban corp common stock at a predetermined price, known as the exercise price. The exercise price is typically the fair market value of the stock on the date of grant. These options generally have a specified vesting period, during which the nonemployee director must wait before being able to exercise the options and acquire the underlying shares. The Oklahoma Nonemployee Director Stock Option Plan aims to align the interests of nonemployee directors with those of the company's shareholders. By offering stock options, U.S. Ban corp encourages these directors to act in the best interests of the company, as the value of their stock options is linked to the performance and success of U.S. Ban corp's common stock. It is worth noting that there may be different variations or subplans under the overall Oklahoma Nonemployee Director Stock Option Plan of U.S. Ban corp. These variations could include different exercise prices, vesting schedules, or other terms and conditions tailored to meet the specific needs of individual nonemployee directors. However, specific details regarding any potential subplans under the overall Oklahoma Nonemployee Director Stock Option Plan are not readily available, as they may vary from director to director. Overall, the Oklahoma Nonemployee Director Stock Option Plan reflects U.S. Ban corp's commitment to providing competitive compensation packages to its nonemployee directors while also aligning their interests with the company's long-term success and shareholder value creation.