Harris Texas Nonemployee Directors Stock Option Plan of National Surgery Centers, Inc.

• Category: Corporations - Public - Stock Options
• State: Multi-State
• County: Harris
• 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 Harris Texas Nonemployee Directors Stock Option Plan is a comprehensive program offered by National Surgery Centers, Inc. to its nonemployee directors based in Harris County, Texas. This stock option plan aims to provide these directors with an opportunity to acquire shares of the company's stock, thus aligning their interests with the overall success of the organization. Under the Harris Texas Nonemployee Directors Stock Option Plan, eligible directors are granted stock options, which allow them to purchase a specified number of shares at a predetermined price within a defined time period. This plan is designed to incentivize high performance and encourage long-term commitment among nonemployee directors. There are different types of Harris Texas Nonemployee Directors Stock Option Plan options available to cater to the diverse needs and preferences of the directors. These may include: 1. Standard Stock Options: These options allow directors to purchase company stock at a predetermined exercise price, usually below the current market value. The exercise period for these options may extend over several years to provide ample time for directors to make their decisions. 2. Incentive Stock Options: This type of option grants directors certain tax advantages. If specific requirements are met, directors have the potential to benefit from favorable tax treatment upon exercise and sale of the stock acquired through the plan. 3. Nonqualified Stock Options: Unlike incentive stock options, nonqualified stock options do not receive preferential tax treatment. However, they offer greater flexibility in terms of exercise price and exercise period, making them an attractive choice for some directors. 4. Restricted Stock Units (RSS): In addition to stock options, the plan may also include the issuance of restricted stock units. RSS represents a promise to deliver company stock to directors at a future date, typically subject to certain vesting conditions. National Surgery Centers, Inc. seeks to attract and retain highly qualified nonemployee directors by offering this comprehensive stock option plan. By granting stock-based incentives, the company aims to motivate directors to actively contribute to the company's growth and profitability, while also further aligning their interests with those of the shareholders.

The Harris Texas Nonemployee Directors Stock Option Plan is a comprehensive program offered by National Surgery Centers, Inc. to its nonemployee directors based in Harris County, Texas. This stock option plan aims to provide these directors with an opportunity to acquire shares of the company's stock, thus aligning their interests with the overall success of the organization. Under the Harris Texas Nonemployee Directors Stock Option Plan, eligible directors are granted stock options, which allow them to purchase a specified number of shares at a predetermined price within a defined time period. This plan is designed to incentivize high performance and encourage long-term commitment among nonemployee directors. There are different types of Harris Texas Nonemployee Directors Stock Option Plan options available to cater to the diverse needs and preferences of the directors. These may include: 1. Standard Stock Options: These options allow directors to purchase company stock at a predetermined exercise price, usually below the current market value. The exercise period for these options may extend over several years to provide ample time for directors to make their decisions. 2. Incentive Stock Options: This type of option grants directors certain tax advantages. If specific requirements are met, directors have the potential to benefit from favorable tax treatment upon exercise and sale of the stock acquired through the plan. 3. Nonqualified Stock Options: Unlike incentive stock options, nonqualified stock options do not receive preferential tax treatment. However, they offer greater flexibility in terms of exercise price and exercise period, making them an attractive choice for some directors. 4. Restricted Stock Units (RSS): In addition to stock options, the plan may also include the issuance of restricted stock units. RSS represents a promise to deliver company stock to directors at a future date, typically subject to certain vesting conditions. National Surgery Centers, Inc. seeks to attract and retain highly qualified nonemployee directors by offering this comprehensive stock option plan. By granting stock-based incentives, the company aims to motivate directors to actively contribute to the company's growth and profitability, while also further aligning their interests with those of the shareholders.