Chicago Illinois Nonemployee Director Stock Option Plan of U.S. Bancorp

• Category: Corporations - Public - Stock Options
• State: Multi-State
• City: Chicago
• 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 Chicago Illinois Nonemployee Director Stock Option Plan is a specific program implemented by U.S. Ban corp for nonemployee directors based in the city of Chicago, Illinois. This plan aims to provide these directors with stock options as a form of compensation, which can be an attractive incentive for their active involvement and commitment to the success of the company. Under the Chicago Illinois Nonemployee Director Stock Option Plan, eligible nonemployee directors are given the opportunity to purchase a certain number of shares of U.S. Ban corp stock at a predetermined price, known as the exercise price. These stock options typically have a vesting period, meaning they become available to exercise over a specified period of time, usually upon completion of certain milestones or the passage of a specific duration. The plan is designed to align the interests of nonemployee directors with U.S. Ban corp's shareholders, as it allows these directors to share in the potential appreciation of the company's stock value. By granting stock options, U.S. Ban corp aims to motivate nonemployee directors to work towards the company's long-term success, fostering a sense of ownership and commitment among these individuals. It's important to note that while the Chicago Illinois Nonemployee Director Stock Option Plan refers specifically to directors based in Chicago, U.S. Ban corp may have similar stock option plans for nonemployee directors in other locations or divisions. These plans may have slight variations in terms and conditions, but the overarching goal remains the same — to incentivize nonemployee directors and foster their alignment with the company's growth objectives. In summary, the Chicago Illinois Nonemployee Director Stock Option Plan of U.S. Ban corp is a program designed to provide stock options to nonemployee directors based in Chicago. It aims to align the interests of these directors with the company's shareholders and promote long-term commitment and active participation in U.S. Ban corp's success. Other variations of this plan may exist for nonemployee directors in different locations or divisions of U.S. Ban corp.

The Chicago Illinois Nonemployee Director Stock Option Plan is a specific program implemented by U.S. Ban corp for nonemployee directors based in the city of Chicago, Illinois. This plan aims to provide these directors with stock options as a form of compensation, which can be an attractive incentive for their active involvement and commitment to the success of the company. Under the Chicago Illinois Nonemployee Director Stock Option Plan, eligible nonemployee directors are given the opportunity to purchase a certain number of shares of U.S. Ban corp stock at a predetermined price, known as the exercise price. These stock options typically have a vesting period, meaning they become available to exercise over a specified period of time, usually upon completion of certain milestones or the passage of a specific duration. The plan is designed to align the interests of nonemployee directors with U.S. Ban corp's shareholders, as it allows these directors to share in the potential appreciation of the company's stock value. By granting stock options, U.S. Ban corp aims to motivate nonemployee directors to work towards the company's long-term success, fostering a sense of ownership and commitment among these individuals. It's important to note that while the Chicago Illinois Nonemployee Director Stock Option Plan refers specifically to directors based in Chicago, U.S. Ban corp may have similar stock option plans for nonemployee directors in other locations or divisions. These plans may have slight variations in terms and conditions, but the overarching goal remains the same — to incentivize nonemployee directors and foster their alignment with the company's growth objectives. In summary, the Chicago Illinois Nonemployee Director Stock Option Plan of U.S. Ban corp is a program designed to provide stock options to nonemployee directors based in Chicago. It aims to align the interests of these directors with the company's shareholders and promote long-term commitment and active participation in U.S. Ban corp's success. Other variations of this plan may exist for nonemployee directors in different locations or divisions of U.S. Ban corp.