Salt Lake Utah Nonemployee Directors Stock Option Plan of National Surgery Centers, Inc.

• Category: Corporations - Public - Stock Options
• State: Multi-State
• County: Salt Lake
• 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 Salt Lake Utah Nonemployee Directors Stock Option Plan is a key component of National Surgery Centers, Inc.'s compensation strategy for nonemployee directors based in Salt Lake City, Utah. This plan is designed to incentivize and reward the dedicated service and contributions of these directors to the company's growth and success. Under this stock option plan, nonemployee directors of National Surgery Centers, Inc. are granted the opportunity to purchase company stock at a predetermined price, commonly known as the exercise price. The plan aims to align the interests of nonemployee directors with those of the company's shareholders, encouraging long-term commitment and dedication to achieving the company's objectives. Through the Salt Lake Utah Nonemployee Directors Stock Option Plan, National Surgery Centers, Inc. offers various types of stock options to its nonemployee directors, providing flexibility and catered benefits. Some different types of stock options that may be included in this plan are: 1. Non-Qualified Stock Options (Nests): These options provide nonemployee directors with the right to purchase company stock at a predetermined price, typically below the market price at the time of grant. Nonemployee directors can exercise these options at their discretion within a specified time frame defined by the plan. 2. Incentive Stock Options (SOS): This type of stock option grants nonemployee directors the right to purchase company stock at a predetermined price, generally the fair market value on the grant date. SOS offer potential tax advantages if certain requirements, such as holding the stock for a specific period, are met. 3. Restricted Stock Units (RSS): RSS are another form of stock-based compensation offered to nonemployee directors. Instead of granting actual shares, RSS represent the right to receive a specific number of shares at a future date. These units may vest over time or upon the achievement of predetermined performance milestones. National Surgery Centers, Inc. values the expertise and diverse perspectives that nonemployee directors bring to the organization. By implementing the Salt Lake Utah Nonemployee Directors Stock Option Plan, the company not only recognizes their significant contributions but also aims to align their interests with the long-term success of National Surgery Centers, Inc. as a whole.

The Salt Lake Utah Nonemployee Directors Stock Option Plan is a key component of National Surgery Centers, Inc.'s compensation strategy for nonemployee directors based in Salt Lake City, Utah. This plan is designed to incentivize and reward the dedicated service and contributions of these directors to the company's growth and success. Under this stock option plan, nonemployee directors of National Surgery Centers, Inc. are granted the opportunity to purchase company stock at a predetermined price, commonly known as the exercise price. The plan aims to align the interests of nonemployee directors with those of the company's shareholders, encouraging long-term commitment and dedication to achieving the company's objectives. Through the Salt Lake Utah Nonemployee Directors Stock Option Plan, National Surgery Centers, Inc. offers various types of stock options to its nonemployee directors, providing flexibility and catered benefits. Some different types of stock options that may be included in this plan are: 1. Non-Qualified Stock Options (Nests): These options provide nonemployee directors with the right to purchase company stock at a predetermined price, typically below the market price at the time of grant. Nonemployee directors can exercise these options at their discretion within a specified time frame defined by the plan. 2. Incentive Stock Options (SOS): This type of stock option grants nonemployee directors the right to purchase company stock at a predetermined price, generally the fair market value on the grant date. SOS offer potential tax advantages if certain requirements, such as holding the stock for a specific period, are met. 3. Restricted Stock Units (RSS): RSS are another form of stock-based compensation offered to nonemployee directors. Instead of granting actual shares, RSS represent the right to receive a specific number of shares at a future date. These units may vest over time or upon the achievement of predetermined performance milestones. National Surgery Centers, Inc. values the expertise and diverse perspectives that nonemployee directors bring to the organization. By implementing the Salt Lake Utah Nonemployee Directors Stock Option Plan, the company not only recognizes their significant contributions but also aims to align their interests with the long-term success of National Surgery Centers, Inc. as a whole.