Cook Illinois Director stock program

• Category: Corporations - Public - Stock Options
• State: Multi-State
• County: Cook
• Control #: US-CC-18-172
• Format: Word; Rich Text

Description

18-172 18-172 . . Director Stock Program which provides that, on first day of director's term, such director will be granted option to acquire 900 shares of common stock, and on first day of each subsequent year of director's term, he or she will be granted options to acquire 300 shares of common stock. Options are at fair market value on date of grant and are exercisable in full six months after date of grant. The Director Stock Program also provides that, on first day of director's term, he or she will be awarded right to purchase 450 shares of restricted stock, and on first day of the second and third year of such director's term, he or she will be awarded right to purchase 150 shares of restricted stock. Purchase price will be equal to par value of common stock The Cook Illinois Director stock program is a unique opportunity for members of the Cook Illinois board to become shareholders in the company. This program offers directors the chance to invest in the company's stock, enabling them to have a vested interest in its success and growth. By participating in the Cook Illinois Director stock program, board members can align their financial interests with the company's goals and objectives. This program not only provides an incentive for directors to enhance shareholder value but also strengthens their commitment to the long-term success of the organization. There are different types of Cook Illinois Director stock programs available, including: 1. Restricted Stock Units (RSS): RSS are a type of equity compensation where shares of stock are granted to directors after a specified vesting period. These shares are subject to certain restrictions, such as time-based vesting or performance criteria. 2. Stock Options: Stock options grant directors the right to purchase company stock at a specified price (the exercise price) within a predetermined period. Directors can exercise their options if the stock price increases, allowing them to buy and profit from the stock. 3. Performance-Linked Stock Programs: Cook Illinois may also offer performance-linked stock programs for directors. These programs tie the allocation of stock to the achievement of specific performance targets or milestones. When directors meet or exceed these targets, they become eligible to receive shares of company stock. 4. Stock Appreciation Rights (SARS): SARS entitle directors to receive the appreciation in the value of a set number of shares over a specified period. Unlike stock options, directors are not required to purchase the shares but instead receive the cash equivalent of the value appreciation. Through these different types of stock programs, Cook Illinois aims to motivate and reward its directors for their contributions to the company's growth and success. It aligns the interests of the directors with those of the shareholders and promotes a collaborative approach towards achieving the company's strategic objectives. Overall, the Cook Illinois Director stock program serves as a powerful incentive tool, fostering a sense of ownership and commitment among board members while driving the company towards long-term prosperity.

The Cook Illinois Director stock program is a unique opportunity for members of the Cook Illinois board to become shareholders in the company. This program offers directors the chance to invest in the company's stock, enabling them to have a vested interest in its success and growth. By participating in the Cook Illinois Director stock program, board members can align their financial interests with the company's goals and objectives. This program not only provides an incentive for directors to enhance shareholder value but also strengthens their commitment to the long-term success of the organization. There are different types of Cook Illinois Director stock programs available, including: 1. Restricted Stock Units (RSS): RSS are a type of equity compensation where shares of stock are granted to directors after a specified vesting period. These shares are subject to certain restrictions, such as time-based vesting or performance criteria. 2. Stock Options: Stock options grant directors the right to purchase company stock at a specified price (the exercise price) within a predetermined period. Directors can exercise their options if the stock price increases, allowing them to buy and profit from the stock. 3. Performance-Linked Stock Programs: Cook Illinois may also offer performance-linked stock programs for directors. These programs tie the allocation of stock to the achievement of specific performance targets or milestones. When directors meet or exceed these targets, they become eligible to receive shares of company stock. 4. Stock Appreciation Rights (SARS): SARS entitle directors to receive the appreciation in the value of a set number of shares over a specified period. Unlike stock options, directors are not required to purchase the shares but instead receive the cash equivalent of the value appreciation. Through these different types of stock programs, Cook Illinois aims to motivate and reward its directors for their contributions to the company's growth and success. It aligns the interests of the directors with those of the shareholders and promotes a collaborative approach towards achieving the company's strategic objectives. Overall, the Cook Illinois Director stock program serves as a powerful incentive tool, fostering a sense of ownership and commitment among board members while driving the company towards long-term prosperity.