West Virginia 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 West Virginia Nonemployee Directors Stock Plan of TJ International, Inc. is a comprehensive compensation program designed specifically for nonemployee directors of the company. This plan aims to provide eligible directors with a means to acquire and hold shares of TJ International, Inc. stock, thereby aligning their interests with those of the company's shareholders. Under this plan, nonemployee directors are granted the opportunity to receive stock awards as part of their compensation package. These awards may be in the form of stock options, restricted stock units, or other equity-based instruments. The specific type of award granted may vary depending on the director's level of service and tenure on the board. The stock options granted through this plan provide directors with the right to purchase a certain number of shares of TJ International, Inc. stock at a predetermined exercise price, within a specified period of time. This allows directors to benefit from any potential increase in the company's stock price over the exercise price, while also encouraging them to actively contribute to the company's growth and success. Restricted stock units, on the other hand, are awards that entitle the director to receive a specified number of shares of TJ International, Inc. stock at a future date, subject to certain vesting conditions. These conditions often include a requirement for the director to remain on the board for a certain period of time or the achievement of specific performance targets. Additionally, the West Virginia Nonemployee Directors Stock Plan may include other provisions to ensure that the plan operates in accordance with applicable securities laws and corporate governance standards. For example, the plan may establish regulations regarding the transferability of stock awards, the treatment of invested awards upon a change in control of the company, and the limits on the number of shares that can be awarded to any one director. By implementing the West Virginia Nonemployee Directors Stock Plan, TJ International, Inc. is able to attract and retain highly qualified directors, providing them with a valuable stake in the company's long-term success. This plan serves as a powerful incentive for directors to actively contribute to the company's corporate objectives, enhance shareholder value, and make sound strategic decisions. Overall, the West Virginia Nonemployee Directors Stock Plan of TJ International, Inc. is a robust compensation program tailored to reward and motivate nonemployee directors, offering them the opportunity to participate in the company's growth and alignment with shareholder interests.