Puerto Rico 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 Puerto Rico Nonemployee Director Stock Option Plan of U.S. Ban corp is a specific compensation plan designed for nonemployee directors of the company who are based in Puerto Rico. This plan provides an opportunity for these directors to receive stock options as part of their compensation package. Under this plan, nonemployee directors of U.S. Ban corp who are residents of Puerto Rico are eligible to participate. The plan grants stock options to these directors, allowing them to purchase a certain number of shares of the company's common stock at a predetermined price, typically referred to as the exercise price. These options are typically subject to a vesting period and expiration date, as outlined in the plan's terms and conditions. The Puerto Rico Nonemployee Director Stock Option Plan aims to align the interests of nonemployee directors with the long-term success and performance of U.S. Ban corp. By allowing directors to purchase company stock at a set price, the plan incentivizes them to contribute to the company's growth and profitability. As the stock price increases over time, directors can potentially realize substantial gains upon exercising their options. It is important to note that there may be different variations or series of the Puerto Rico Nonemployee Director Stock Option Plan, each with its own specific terms and conditions. These variations could include options with different vesting schedules, exercise prices, or expiration dates. However, specific details regarding different types within this plan are not provided in the given information. In summary, the Puerto Rico Nonemployee Director Stock Option Plan of U.S. Ban corp is a compensation plan designed to reward directors who are residents of Puerto Rico with stock options. These options provide directors with the opportunity to purchase company stock at a predetermined price, aligning their interests with the long-term success of U.S. Ban corp.

The Puerto Rico Nonemployee Director Stock Option Plan of U.S. Ban corp is a specific compensation plan designed for nonemployee directors of the company who are based in Puerto Rico. This plan provides an opportunity for these directors to receive stock options as part of their compensation package. Under this plan, nonemployee directors of U.S. Ban corp who are residents of Puerto Rico are eligible to participate. The plan grants stock options to these directors, allowing them to purchase a certain number of shares of the company's common stock at a predetermined price, typically referred to as the exercise price. These options are typically subject to a vesting period and expiration date, as outlined in the plan's terms and conditions. The Puerto Rico Nonemployee Director Stock Option Plan aims to align the interests of nonemployee directors with the long-term success and performance of U.S. Ban corp. By allowing directors to purchase company stock at a set price, the plan incentivizes them to contribute to the company's growth and profitability. As the stock price increases over time, directors can potentially realize substantial gains upon exercising their options. It is important to note that there may be different variations or series of the Puerto Rico Nonemployee Director Stock Option Plan, each with its own specific terms and conditions. These variations could include options with different vesting schedules, exercise prices, or expiration dates. However, specific details regarding different types within this plan are not provided in the given information. In summary, the Puerto Rico Nonemployee Director Stock Option Plan of U.S. Ban corp is a compensation plan designed to reward directors who are residents of Puerto Rico with stock options. These options provide directors with the opportunity to purchase company stock at a predetermined price, aligning their interests with the long-term success of U.S. Ban corp.