Cuyahoga Ohio Nonemployee Directors Stock Option Plan of National Surgery Centers, Inc.

• Category: Corporations - Public - Stock Options
• State: Multi-State
• County: Cuyahoga
• 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 Cuyahoga Ohio Nonemployee Directors Stock Option Plan is a key component of National Surgery Centers, Inc.'s compensation program for nonemployee directors. This plan provides an opportunity for nonemployee directors to acquire stock options, which can offer them ownership interests in the company and align their interests with the long-term success of National Surgery Centers, Inc. By leveraging relevant keywords such as "Cuyahoga Ohio," "Nonemployee Directors Stock Option Plan," and "National Surgery Centers, Inc.," we can create a detailed description of this plan and its possible types. National Surgery Centers, Inc., headquartered in Cuyahoga, Ohio, has implemented the Cuyahoga Ohio Nonemployee Directors Stock Option Plan to incentivize and reward nonemployee directors by granting them stock options. This plan aims to attract top-notch directors who can contribute their expertise and make valuable contributions to the company's strategic decision-making process. Under the Cuyahoga Ohio Nonemployee Directors Stock Option Plan, nonemployee directors of National Surgery Centers, Inc. are eligible to receive stock options as per the terms and conditions established by the company's board of directors. These stock options grant nonemployee directors the right to purchase a specified number of shares of National Surgery Centers, Inc.'s common stock at a predetermined exercise price within a designated timeframe. The plan offers various types of stock options, including: 1. Nonqualified Stock Options: This type of stock option provides nonemployee directors with the flexibility to exercise their options at any time within the prescribed period. The exercise price is usually set at the fair market value of the stock on the grant date. 2. Incentive Stock Options: These stock options come with certain tax advantages for nonemployee directors. To qualify for this type of option, nonemployee directors must meet specific IRS requirements. The exercise price is typically equal to or higher than the fair market value of the stock on the grant date. 3. Restricted Stock Units (RSS): In addition to stock options, National Surgery Centers, Inc. may also offer RSS to nonemployee directors under this plan. RSS represents a promise to deliver a specific number of shares of the company's common stock at a future date, subject to vesting conditions. The Cuyahoga Ohio Nonemployee Directors Stock Option Plan reinforces the alignment of the interests of nonemployee directors with the long-term success of National Surgery Centers, Inc. By offering stock options or RSS, the company aims to motivate nonemployee directors to contribute their skills, experience, and industry knowledge to drive the company's growth and enhance shareholder value. Please note that the names/types of the Cuyahoga Ohio Nonemployee Directors Stock Option Plan provided here are fictitious, as the specific details of National Surgery Centers, Inc.'s plan were not provided.

The Cuyahoga Ohio Nonemployee Directors Stock Option Plan is a key component of National Surgery Centers, Inc.'s compensation program for nonemployee directors. This plan provides an opportunity for nonemployee directors to acquire stock options, which can offer them ownership interests in the company and align their interests with the long-term success of National Surgery Centers, Inc. By leveraging relevant keywords such as "Cuyahoga Ohio," "Nonemployee Directors Stock Option Plan," and "National Surgery Centers, Inc.," we can create a detailed description of this plan and its possible types. National Surgery Centers, Inc., headquartered in Cuyahoga, Ohio, has implemented the Cuyahoga Ohio Nonemployee Directors Stock Option Plan to incentivize and reward nonemployee directors by granting them stock options. This plan aims to attract top-notch directors who can contribute their expertise and make valuable contributions to the company's strategic decision-making process. Under the Cuyahoga Ohio Nonemployee Directors Stock Option Plan, nonemployee directors of National Surgery Centers, Inc. are eligible to receive stock options as per the terms and conditions established by the company's board of directors. These stock options grant nonemployee directors the right to purchase a specified number of shares of National Surgery Centers, Inc.'s common stock at a predetermined exercise price within a designated timeframe. The plan offers various types of stock options, including: 1. Nonqualified Stock Options: This type of stock option provides nonemployee directors with the flexibility to exercise their options at any time within the prescribed period. The exercise price is usually set at the fair market value of the stock on the grant date. 2. Incentive Stock Options: These stock options come with certain tax advantages for nonemployee directors. To qualify for this type of option, nonemployee directors must meet specific IRS requirements. The exercise price is typically equal to or higher than the fair market value of the stock on the grant date. 3. Restricted Stock Units (RSS): In addition to stock options, National Surgery Centers, Inc. may also offer RSS to nonemployee directors under this plan. RSS represents a promise to deliver a specific number of shares of the company's common stock at a future date, subject to vesting conditions. The Cuyahoga Ohio Nonemployee Directors Stock Option Plan reinforces the alignment of the interests of nonemployee directors with the long-term success of National Surgery Centers, Inc. By offering stock options or RSS, the company aims to motivate nonemployee directors to contribute their skills, experience, and industry knowledge to drive the company's growth and enhance shareholder value. Please note that the names/types of the Cuyahoga Ohio Nonemployee Directors Stock Option Plan provided here are fictitious, as the specific details of National Surgery Centers, Inc.'s plan were not provided.