Wake North Carolina Nonemployee Director Stock Option Plan of U.S. Bancorp

• Category: Corporations - Public - Stock Options
• State: Multi-State
• County: Wake
• 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 Wake North Carolina Nonemployee Director Stock Option Plan is a compensation program offered by U.S. Ban corp, one of the largest commercial banks in the United States. It is specifically designed for nonemployee directors serving on the board of U.S. Ban corp. This plan allows nonemployee directors to receive stock options as a form of additional compensation in addition to their regular director fees. The Wake North Carolina Nonemployee Director Stock Option Plan is aimed at rewarding nonemployee directors for their service and commitment to the organization. By offering stock options, U.S. Ban corp provides an incentive for directors to focus on the long-term growth and success of the company, aligning their interests with that of the shareholders. With the Wake North Carolina Nonemployee Director Stock Option Plan, directors have the opportunity to purchase shares of U.S. Ban corp stock at a predetermined price, known as the exercise price. The exercise price is typically set at the market price of the company's stock on the date of the grant, ensuring fairness and transparency. One key feature of the plan is that the stock options granted to nonemployee directors have a vesting period. This means directors cannot exercise their options immediately, but rather must wait for a specific period of time before being able to do so. The vesting period is designed to encourage directors to remain with the organization and continue to contribute to its growth over the long term. The Wake North Carolina Nonemployee Director Stock Option Plan is subject to certain terms and conditions outlined by U.S. Ban corp. These may include limitations on the number of options granted, the duration of the options, and any restrictions on the sale or transfer of the purchased shares. It's worth noting that there may be different variations or types of the Wake North Carolina Nonemployee Director Stock Option Plan offered by U.S. Ban corp, tailored to the specific needs and requirements of different nonemployee directors. However, specific details regarding these variations would need to be obtained directly from U.S. Ban corp or its official communications. In conclusion, the Wake North Carolina Nonemployee Director Stock Option Plan is a compensation program designed to provide nonemployee directors of U.S. Ban corp with additional incentives in the form of stock options. By offering these options, U.S. Ban corp encourages directors to align their interests with the long-term success of the company, ultimately benefiting both the organization and its shareholders.

The Wake North Carolina Nonemployee Director Stock Option Plan is a compensation program offered by U.S. Ban corp, one of the largest commercial banks in the United States. It is specifically designed for nonemployee directors serving on the board of U.S. Ban corp. This plan allows nonemployee directors to receive stock options as a form of additional compensation in addition to their regular director fees. The Wake North Carolina Nonemployee Director Stock Option Plan is aimed at rewarding nonemployee directors for their service and commitment to the organization. By offering stock options, U.S. Ban corp provides an incentive for directors to focus on the long-term growth and success of the company, aligning their interests with that of the shareholders. With the Wake North Carolina Nonemployee Director Stock Option Plan, directors have the opportunity to purchase shares of U.S. Ban corp stock at a predetermined price, known as the exercise price. The exercise price is typically set at the market price of the company's stock on the date of the grant, ensuring fairness and transparency. One key feature of the plan is that the stock options granted to nonemployee directors have a vesting period. This means directors cannot exercise their options immediately, but rather must wait for a specific period of time before being able to do so. The vesting period is designed to encourage directors to remain with the organization and continue to contribute to its growth over the long term. The Wake North Carolina Nonemployee Director Stock Option Plan is subject to certain terms and conditions outlined by U.S. Ban corp. These may include limitations on the number of options granted, the duration of the options, and any restrictions on the sale or transfer of the purchased shares. It's worth noting that there may be different variations or types of the Wake North Carolina Nonemployee Director Stock Option Plan offered by U.S. Ban corp, tailored to the specific needs and requirements of different nonemployee directors. However, specific details regarding these variations would need to be obtained directly from U.S. Ban corp or its official communications. In conclusion, the Wake North Carolina Nonemployee Director Stock Option Plan is a compensation program designed to provide nonemployee directors of U.S. Ban corp with additional incentives in the form of stock options. By offering these options, U.S. Ban corp encourages directors to align their interests with the long-term success of the company, ultimately benefiting both the organization and its shareholders.