Bexar Texas Nonemployee Director Stock Option Plan of U.S. Bancorp

• Category: Corporations - Public - Stock Options
• State: Multi-State
• County: Bexar
• Control #: US-CC-18-209A
• Format: Word; Rich Text

Description

18-209A 18-209A . . . Outside Director Stock Option Plan under which, in addition to initial grants at fair market value on date of grant, each outside director may elect to receive deferred compensation option in lieu of all or specified portion of any directors fees. Such deferred compensation options shall be for number of shares equal to dollar amount specified in optionee's deferral election divided by difference between (a) fair market value of a share and (b) greater of 40% of fair market value of a share as of grant date or $5.00; and exercise price shall be equal to greater of (x) 40% of fair market value of a share as of grant date or (y) $5.00 The Bexar Texas Nonemployee Director Stock Option Plan of U.S. Ban corp is a compensation program designed specifically for nonemployee directors. It allows these directors to receive stock options as a part of their overall compensation package. This plan is offered exclusively to nonemployee directors residing in Bexar County, Texas, who serve on the board of U.S. Ban corp. Under the Bexar Texas Nonemployee Director Stock Option Plan, eligible directors are granted the right to purchase a specified number of shares of U.S. Ban corp common stock at a predetermined price, referred to as the exercise price. These stock options typically have a predetermined vesting period, during which directors must meet certain conditions, such as continued service or achievement of performance goals, in order to exercise the options. The purpose of offering stocks options is to align the interests of nonemployee directors with those of U.S. Ban corp shareholders. By granting stock options, the company aims to incentivize long-term commitment, encourage active participation, and align the financial interests of directors with the overall performance of the company. This serves as a way to attract and retain talented individuals who can provide valuable guidance to the company's strategic decisions. While the Bexar Texas Nonemployee Director Stock Option Plan is tailored specifically for nonemployee directors in Bexar County, Texas, there may be different versions or variations of this plan for directors in other locations. These alternative versions may vary in terms of eligibility criteria, vesting schedule, exercise price, or other specific details. Overall, the Bexar Texas Nonemployee Director Stock Option Plan of U.S. Ban corp provides a valuable compensation tool that allows nonemployee directors to share in the company's success while aligning their interests with those of the shareholders. By offering stock options, U.S. Ban corp aims to attract and retain highly qualified individuals to serve on its board and contribute to the long-term success of the company.

The Bexar Texas Nonemployee Director Stock Option Plan of U.S. Ban corp is a compensation program designed specifically for nonemployee directors. It allows these directors to receive stock options as a part of their overall compensation package. This plan is offered exclusively to nonemployee directors residing in Bexar County, Texas, who serve on the board of U.S. Ban corp. Under the Bexar Texas Nonemployee Director Stock Option Plan, eligible directors are granted the right to purchase a specified number of shares of U.S. Ban corp common stock at a predetermined price, referred to as the exercise price. These stock options typically have a predetermined vesting period, during which directors must meet certain conditions, such as continued service or achievement of performance goals, in order to exercise the options. The purpose of offering stocks options is to align the interests of nonemployee directors with those of U.S. Ban corp shareholders. By granting stock options, the company aims to incentivize long-term commitment, encourage active participation, and align the financial interests of directors with the overall performance of the company. This serves as a way to attract and retain talented individuals who can provide valuable guidance to the company's strategic decisions. While the Bexar Texas Nonemployee Director Stock Option Plan is tailored specifically for nonemployee directors in Bexar County, Texas, there may be different versions or variations of this plan for directors in other locations. These alternative versions may vary in terms of eligibility criteria, vesting schedule, exercise price, or other specific details. Overall, the Bexar Texas Nonemployee Director Stock Option Plan of U.S. Ban corp provides a valuable compensation tool that allows nonemployee directors to share in the company's success while aligning their interests with those of the shareholders. By offering stock options, U.S. Ban corp aims to attract and retain highly qualified individuals to serve on its board and contribute to the long-term success of the company.