Puerto Rico Nonemployee Directors Stock Plan of TJ International, Inc.

• Category: Corporations - Public - Stock Options
• State: Multi-State
• Control #: US-CC-18-361A
• Format: Word; Rich Text

Description

18-361A 18-361A . . . Non-employee Directors Stock Option Plan under which Board can grant, during first year of Plan, options to purchase up to 2,000 shares of stock exercisable one year after grant and options to purchase 1,667 shares of stock exercisable 3 years after grant. Each year beginning with the 2nd year of Plan, Board can grant options for up to 2,000 shares of stock which are exercisable in 3 equal annual installments beginning 1 year after grant The Puerto Rico Nonemployee Directors Stock Plan is an incentive program offered by TJ International, Inc. to its nonemployee directors residing in Puerto Rico. This stock plan aims to attract and retain talented individuals who can provide valuable insights and guidance to the company's board of directors. The program includes various types of stock grants and options, specifically designed for nonemployee directors in compliance with Puerto Rico laws and regulations. The different types of Puerto Rico Nonemployee Directors Stock Plan offered by TJ International, Inc. may include: 1. Restricted Stock Grants: Under this type of stock plan, nonemployee directors are granted a specified number of company shares. However, the shares are subject to certain restrictions, such as a vesting period or performance-based conditions. Once the restrictions are met, the directors can exercise their ownership rights and sell or transfer the shares. 2. Stock Options: This type of stock plan provides nonemployee directors with the right to purchase company shares at a predetermined price, known as the exercise price. Stock options typically have a vesting period and an expiration date, within which the directors must exercise their options. If the stock price rises above the exercise price, directors can benefit by purchasing and selling the shares for a profit. 3. Performance-Based Stock Grants: Some nonemployee directors may be eligible for performance-based stock grants, where the number of shares granted depends on the achievement of predetermined goals or targets set by the company. These goals can be related to financial performance, strategic objectives, or any other criteria specified in the stock plan. 4. Dividend Equivalents: Nonemployee directors participating in the Puerto Rico Nonemployee Directors Stock Plan may also receive dividend equivalents. Dividend equivalents provide directors with the right to receive cash payments equivalent to the dividends paid to shareholders. These payments can be granted during the vesting period or upon the exercise of stock options. 5. Change of Control Provisions: The Puerto Rico Nonemployee Directors Stock Plan may also include provisions related to change of control events, such as mergers, acquisitions, or other significant corporate transactions. These provisions aim to protect the interests of nonemployee directors by providing them with certain rights or benefits in the event of a change in company ownership. In summary, the Puerto Rico Nonemployee Directors Stock Plan offered by TJ International, Inc. is a comprehensive compensation program designed specifically for nonemployee directors residing in Puerto Rico. It includes various types of stock grants, options, and additional benefits, such as dividend equivalents and change of control provisions. These incentives aim to align the interests of nonemployee directors with the company's long-term success and provide them with a valuable opportunity to participate in its growth and profitability.

The Puerto Rico Nonemployee Directors Stock Plan is an incentive program offered by TJ International, Inc. to its nonemployee directors residing in Puerto Rico. This stock plan aims to attract and retain talented individuals who can provide valuable insights and guidance to the company's board of directors. The program includes various types of stock grants and options, specifically designed for nonemployee directors in compliance with Puerto Rico laws and regulations. The different types of Puerto Rico Nonemployee Directors Stock Plan offered by TJ International, Inc. may include: 1. Restricted Stock Grants: Under this type of stock plan, nonemployee directors are granted a specified number of company shares. However, the shares are subject to certain restrictions, such as a vesting period or performance-based conditions. Once the restrictions are met, the directors can exercise their ownership rights and sell or transfer the shares. 2. Stock Options: This type of stock plan provides nonemployee directors with the right to purchase company shares at a predetermined price, known as the exercise price. Stock options typically have a vesting period and an expiration date, within which the directors must exercise their options. If the stock price rises above the exercise price, directors can benefit by purchasing and selling the shares for a profit. 3. Performance-Based Stock Grants: Some nonemployee directors may be eligible for performance-based stock grants, where the number of shares granted depends on the achievement of predetermined goals or targets set by the company. These goals can be related to financial performance, strategic objectives, or any other criteria specified in the stock plan. 4. Dividend Equivalents: Nonemployee directors participating in the Puerto Rico Nonemployee Directors Stock Plan may also receive dividend equivalents. Dividend equivalents provide directors with the right to receive cash payments equivalent to the dividends paid to shareholders. These payments can be granted during the vesting period or upon the exercise of stock options. 5. Change of Control Provisions: The Puerto Rico Nonemployee Directors Stock Plan may also include provisions related to change of control events, such as mergers, acquisitions, or other significant corporate transactions. These provisions aim to protect the interests of nonemployee directors by providing them with certain rights or benefits in the event of a change in company ownership. In summary, the Puerto Rico Nonemployee Directors Stock Plan offered by TJ International, Inc. is a comprehensive compensation program designed specifically for nonemployee directors residing in Puerto Rico. It includes various types of stock grants, options, and additional benefits, such as dividend equivalents and change of control provisions. These incentives aim to align the interests of nonemployee directors with the company's long-term success and provide them with a valuable opportunity to participate in its growth and profitability.