Utah 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 Utah Nonemployee Directors Stock Plan of TJ International, Inc. is a comprehensive compensation program designed specifically for nonemployee directors of the company who serve in key leadership roles without being employees. This equity-based plan allows these directors to participate in the company's growth and success by providing them with stock-based incentives. The Utah Nonemployee Directors Stock Plan is carefully structured to align the interests of these directors with the long-term goals and objectives of TJ International, Inc. By granting them stock awards or options, the plan encourages their ongoing commitment, contribution, and dedication to the company's strategic direction. Under this plan, nonemployee directors are eligible to receive stock options or restricted stock units (RSS). Stock options provide the directors with the right to purchase a specific number of company shares at a predetermined price within a specific time frame. RSS, on the other hand, grants the director a specific number of shares that vest over a defined period, typically subject to meeting certain performance or tenure conditions. This plan recognizes the valuable perspectives, expertise, and guidance that nonemployee directors bring to TJ International, Inc. It acknowledges their instrumental role in corporate governance and decision-making processes. The plan also ensures that these directors have a direct interest in the success of the company, fostering a sense of ownership and accountability. The Utah Nonemployee Directors Stock Plan outlines clear terms and conditions for the award, exercise, and vesting of stock options or RSS. It includes provisions for retention, change of control, and termination events to protect the interests of both directors and the company. By implementing Utah Nonemployee Directors Stock Plan, TJ International, Inc. aims to attract and retain top-level talent as nonemployee directors. The plan provides a competitive edge in the market by offering an attractive and performance-driven compensation package. Overall, the Utah Nonemployee Directors Stock Plan of TJ International, Inc. is a crucial component of the company's comprehensive compensation strategy, empowering nonemployee directors to directly align their financial success with the company's progress and achievements.