South Dakota 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 South Dakota Nonemployee Directors Stock Option Plan is a comprehensive program established by National Surgery Centers, Inc. (SCI) to incentivize and reward nonemployee directors for their invaluable contributions to the company's success. This plan offers an opportunity for nonemployee directors to acquire stock options, enabling them to share in the potential financial growth and prosperity of SCI. Under the South Dakota Nonemployee Directors Stock Option Plan, eligible directors who are not actively employed by SCI are granted the right to purchase a specified number of company shares at a predetermined price within a defined time frame. These stock options are a form of compensation that aligns the interests of directors with those of SCI and its shareholders, fostering a sense of ownership and dedication towards the long-term success of the company. The plan is structured with various types of grants to accommodate the dynamic needs and goals of nonemployee directors. These different types of stock option grants may include: 1. Regular Stock Options: This type of grant allows nonemployee directors to purchase SCI shares at a predetermined exercise price over a specific period. The exercise price is generally set at the market value on the date of grant, encouraging directors to work towards increasing the company's stock value. 2. Restricted Stock Units (RSS): RSS are another type of stock option grant offered to nonemployee directors. Instead of granting actual shares, SCI awards virtual units that convert into company stock after a specified vesting period. This type of grant ensures that directors have a stake in SCI's performance over a defined period. 3. Performance-based Stock Options: In addition to regular stock options, SCI may introduce performance-based stock options that link stock option grants to specific performance targets, such as achieving certain financial goals or milestones. This type of grant incentivizes nonemployee directors to actively contribute to SCI's growth and enhance shareholder value. The South Dakota Nonemployee Directors Stock Option Plan of National Surgery Centers, Inc. operates within the legal framework and regulations established by the state of South Dakota. It is carefully designed to attract and retain top-tier talent on the board of directors, promoting stability, efficient decision-making, and long-term strategic planning. By implementing this comprehensive stock option plan, SCI aims to strengthen board member engagement, establish a culture of accountability, and share the rewards of success among its nonemployee directors. This program ensures that the interests of directors remain aligned with shareholders, fostering a collaborative environment focused on maximizing SCI's growth and profitability.

The South Dakota Nonemployee Directors Stock Option Plan is a comprehensive program established by National Surgery Centers, Inc. (SCI) to incentivize and reward nonemployee directors for their invaluable contributions to the company's success. This plan offers an opportunity for nonemployee directors to acquire stock options, enabling them to share in the potential financial growth and prosperity of SCI. Under the South Dakota Nonemployee Directors Stock Option Plan, eligible directors who are not actively employed by SCI are granted the right to purchase a specified number of company shares at a predetermined price within a defined time frame. These stock options are a form of compensation that aligns the interests of directors with those of SCI and its shareholders, fostering a sense of ownership and dedication towards the long-term success of the company. The plan is structured with various types of grants to accommodate the dynamic needs and goals of nonemployee directors. These different types of stock option grants may include: 1. Regular Stock Options: This type of grant allows nonemployee directors to purchase SCI shares at a predetermined exercise price over a specific period. The exercise price is generally set at the market value on the date of grant, encouraging directors to work towards increasing the company's stock value. 2. Restricted Stock Units (RSS): RSS are another type of stock option grant offered to nonemployee directors. Instead of granting actual shares, SCI awards virtual units that convert into company stock after a specified vesting period. This type of grant ensures that directors have a stake in SCI's performance over a defined period. 3. Performance-based Stock Options: In addition to regular stock options, SCI may introduce performance-based stock options that link stock option grants to specific performance targets, such as achieving certain financial goals or milestones. This type of grant incentivizes nonemployee directors to actively contribute to SCI's growth and enhance shareholder value. The South Dakota Nonemployee Directors Stock Option Plan of National Surgery Centers, Inc. operates within the legal framework and regulations established by the state of South Dakota. It is carefully designed to attract and retain top-tier talent on the board of directors, promoting stability, efficient decision-making, and long-term strategic planning. By implementing this comprehensive stock option plan, SCI aims to strengthen board member engagement, establish a culture of accountability, and share the rewards of success among its nonemployee directors. This program ensures that the interests of directors remain aligned with shareholders, fostering a collaborative environment focused on maximizing SCI's growth and profitability.