Pima Arizona Nonemployee Directors Stock Option Plan of National Surgery Centers, Inc.

• Category: Corporations - Public - Stock Options
• State: Multi-State
• County: Pima
• 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 Lima Arizona Nonemployee Directors Stock Option Plan is an integral part of National Surgery Centers, Inc.'s compensation structure for its nonemployee directors. This program provides an opportunity for nonemployee directors of the company to acquire and own shares of the company's stock, aligning their interests with that of the shareholders. The plan serves as a powerful incentive to attract and retain highly qualified individuals who can contribute their expertise and guidance to the company's growth and success. The Lima Arizona Nonemployee Directors Stock Option Plan offers various types of stock option grants, tailored to meet the specific needs and goals of the recipients. Some different types of stock option grants under this plan include: 1. Nonqualified Stock Options: Nonqualified stock options provide nonemployee directors with the right to purchase company stock at a predetermined exercise price. These options typically have a vesting period during which the director must remain with the company before exercising their options. Upon exercise, the director gains ownership of the stock and can choose to retain it or sell it as per their preference. 2. Incentive Stock Options: Incentive stock options (SOS) are another type of stock option that may be granted under the Lima Arizona Nonemployee Directors Stock Option Plan. SOS offer favorable tax treatment to the director if certain conditions are met. For example, these options may qualify for long-term capital gains tax rates if the stock is held for a specified period. However, SOS are subject to additional statutory requirements and limitations. 3. Performance-Based Stock Options: National Surgery Centers, Inc. may also grant performance-based stock options to nonemployee directors as part of the Lima Arizona Nonemployee Directors Stock Option Plan. These options are contingent upon achieving pre-established performance goals, such as financial targets or operational milestones. If the performance criteria are met, the director can exercise their options to acquire company stock. The Lima Arizona Nonemployee Directors Stock Option Plan is designed to motivate and reward nonemployee directors for their contributions to the company's success. By offering stock options, National Surgery Centers, Inc. provides a means for directors to share in the company's growth and financial achievements. This incentivizes directors to actively participate in strategic decision-making and governance, aligning their interests with those of the shareholders.

The Lima Arizona Nonemployee Directors Stock Option Plan is an integral part of National Surgery Centers, Inc.'s compensation structure for its nonemployee directors. This program provides an opportunity for nonemployee directors of the company to acquire and own shares of the company's stock, aligning their interests with that of the shareholders. The plan serves as a powerful incentive to attract and retain highly qualified individuals who can contribute their expertise and guidance to the company's growth and success. The Lima Arizona Nonemployee Directors Stock Option Plan offers various types of stock option grants, tailored to meet the specific needs and goals of the recipients. Some different types of stock option grants under this plan include: 1. Nonqualified Stock Options: Nonqualified stock options provide nonemployee directors with the right to purchase company stock at a predetermined exercise price. These options typically have a vesting period during which the director must remain with the company before exercising their options. Upon exercise, the director gains ownership of the stock and can choose to retain it or sell it as per their preference. 2. Incentive Stock Options: Incentive stock options (SOS) are another type of stock option that may be granted under the Lima Arizona Nonemployee Directors Stock Option Plan. SOS offer favorable tax treatment to the director if certain conditions are met. For example, these options may qualify for long-term capital gains tax rates if the stock is held for a specified period. However, SOS are subject to additional statutory requirements and limitations. 3. Performance-Based Stock Options: National Surgery Centers, Inc. may also grant performance-based stock options to nonemployee directors as part of the Lima Arizona Nonemployee Directors Stock Option Plan. These options are contingent upon achieving pre-established performance goals, such as financial targets or operational milestones. If the performance criteria are met, the director can exercise their options to acquire company stock. The Lima Arizona Nonemployee Directors Stock Option Plan is designed to motivate and reward nonemployee directors for their contributions to the company's success. By offering stock options, National Surgery Centers, Inc. provides a means for directors to share in the company's growth and financial achievements. This incentivizes directors to actively participate in strategic decision-making and governance, aligning their interests with those of the shareholders.