Oakland Michigan Nonemployee Directors Stock Option Plan of National Surgery Centers, Inc.

• Category: Corporations - Public - Stock Options
• State: Multi-State
• County: Oakland
• 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 Oakland Michigan Nonemployee Directors Stock Option Plan is a compensation program offered by National Surgery Centers, Inc. to its nonemployee directors based in the Oakland County, Michigan area. This plan is designed to provide eligible directors with stock options as a form of incentive and reward for their valuable contributions to the company. The Oakland Michigan Nonemployee Directors Stock Option Plan is a crucial part of National Surgery Centers, Inc.'s overall compensation strategy. By offering stock options, the company aims to align the interests of its directors with the long-term growth and success of the organization. This plan serves to retain talented individuals, promote accountability, and motivate directors to make sound decisions that benefit the company and its shareholders. This stock option plan provides eligible nonemployee directors with the opportunity to purchase company stocks at a predetermined price, known as the exercise price. The exercise price is typically set at or slightly above the market value of the company's stock at the time of grant. The options granted to directors usually have a certain vesting schedule, which means they can only be exercised after a specific period of time or upon achievement of certain performance goals. The Oakland Michigan Nonemployee Directors Stock Option Plan may have different types based on the specific terms and conditions determined by National Surgery Centers, Inc. Some potential variations may include: 1. Standard Options: These are the most common type of stock options that grant the right to purchase company stock at the exercise price within a certain timeframe. 2. Incentive Stock Options (SOS): SOS offer potential tax advantages to directors if certain Internal Revenue Service (IRS) requirements are met. They have different tax treatment compared to other stock options. 3. Non-Qualified Stock Options (Nests): Nests are stock options that do not meet the requirements for SOS. They do not offer the same tax advantages but are more flexible in their terms and conditions. 4. Performance-Based Options: These stock options are granted to directors based on the achievement of predetermined performance goals, such as meeting financial targets or increasing shareholder value. 5. Restricted Stock Units (RSS): While not technically stock options, RSS are another form of equity-based compensation. RSS grant directors the right to receive company stock at a future date, usually after a specific vesting period, without any purchase price. The specific types of stock options available under the Oakland Michigan Nonemployee Directors Stock Option Plan may vary depending on the company's needs and objectives. Therefore, it is essential for directors to review the specific terms, conditions, and requirements of the plan to fully understand the benefits and implications of participating in this compensation program.

The Oakland Michigan Nonemployee Directors Stock Option Plan is a compensation program offered by National Surgery Centers, Inc. to its nonemployee directors based in the Oakland County, Michigan area. This plan is designed to provide eligible directors with stock options as a form of incentive and reward for their valuable contributions to the company. The Oakland Michigan Nonemployee Directors Stock Option Plan is a crucial part of National Surgery Centers, Inc.'s overall compensation strategy. By offering stock options, the company aims to align the interests of its directors with the long-term growth and success of the organization. This plan serves to retain talented individuals, promote accountability, and motivate directors to make sound decisions that benefit the company and its shareholders. This stock option plan provides eligible nonemployee directors with the opportunity to purchase company stocks at a predetermined price, known as the exercise price. The exercise price is typically set at or slightly above the market value of the company's stock at the time of grant. The options granted to directors usually have a certain vesting schedule, which means they can only be exercised after a specific period of time or upon achievement of certain performance goals. The Oakland Michigan Nonemployee Directors Stock Option Plan may have different types based on the specific terms and conditions determined by National Surgery Centers, Inc. Some potential variations may include: 1. Standard Options: These are the most common type of stock options that grant the right to purchase company stock at the exercise price within a certain timeframe. 2. Incentive Stock Options (SOS): SOS offer potential tax advantages to directors if certain Internal Revenue Service (IRS) requirements are met. They have different tax treatment compared to other stock options. 3. Non-Qualified Stock Options (Nests): Nests are stock options that do not meet the requirements for SOS. They do not offer the same tax advantages but are more flexible in their terms and conditions. 4. Performance-Based Options: These stock options are granted to directors based on the achievement of predetermined performance goals, such as meeting financial targets or increasing shareholder value. 5. Restricted Stock Units (RSS): While not technically stock options, RSS are another form of equity-based compensation. RSS grant directors the right to receive company stock at a future date, usually after a specific vesting period, without any purchase price. The specific types of stock options available under the Oakland Michigan Nonemployee Directors Stock Option Plan may vary depending on the company's needs and objectives. Therefore, it is essential for directors to review the specific terms, conditions, and requirements of the plan to fully understand the benefits and implications of participating in this compensation program.