Hennepin Minnesota Nonemployee Directors Stock Plan of TJ International, Inc.

• Category: Corporations - Public - Stock Options
• State: Multi-State
• County: Hennepin
• Control #: US-CC-18-361A
• Format: Word; Rich Text

Description

18-361A 18-361A . . . Non-employee Directors Stock Option Plan under which Board can grant, during first year of Plan, options to purchase up to 2,000 shares of stock exercisable one year after grant and options to purchase 1,667 shares of stock exercisable 3 years after grant. Each year beginning with the 2nd year of Plan, Board can grant options for up to 2,000 shares of stock which are exercisable in 3 equal annual installments beginning 1 year after grant The Hennepin Minnesota Nonemployee Directors Stock Plan is an integral part of TJ International, Inc., a leading company based in Hennepin County, Minnesota. This comprehensive plan is designed specifically to benefit nonemployee directors of the company by providing them with stock options and equity-based compensation. The primary objective of the Hennepin Minnesota Nonemployee Directors Stock Plan is to align the interests of nonemployee directors with those of TJ International, Inc. This is achieved by granting stock options to these directors, allowing them to purchase shares of the company's stock at a predetermined price over a specified period. By providing an opportunity to acquire company stock, this plan incentivizes nonemployee directors to contribute their knowledge and expertise to drive the company's growth and success. The Hennepin Minnesota Nonemployee Directors Stock Plan offers various types of stock options to nonemployee directors. It may include, but is not limited to, the following types: 1. Nonqualified Stock Options: These options provide the nonemployee directors with the right to purchase company stock at a predetermined exercise price. These options are not subject to specific tax advantages but are often more flexible in terms of exercise. 2. Incentive Stock Options: These options are designed to provide tax advantages to the nonemployee directors. They allow the purchase of company stock at a predetermined exercise price, which is often lower than the fair market value at the time of grant. To qualify for tax benefits, specific holding requirements and other criteria need to be met. 3. Restricted Stock Units (RSS): In addition to stock options, the plan may also include RSS. RSS are not actual shares of the company but represent the right to receive company stock at a future date or upon the achievement of predetermined conditions. The Hennepin Minnesota Nonemployee Directors Stock Plan of TJ International, Inc. ensures that nonemployee directors have a vested interest in the company's success. It enables these individuals to participate in the company's growth, aligning their financial interests with those of shareholders. This plan reinforces the company's commitment to fostering strong corporate governance, attracting top talent, and retaining experienced directors who are crucial to making strategic decisions in the best interest of the company and its stakeholders.

The Hennepin Minnesota Nonemployee Directors Stock Plan is an integral part of TJ International, Inc., a leading company based in Hennepin County, Minnesota. This comprehensive plan is designed specifically to benefit nonemployee directors of the company by providing them with stock options and equity-based compensation. The primary objective of the Hennepin Minnesota Nonemployee Directors Stock Plan is to align the interests of nonemployee directors with those of TJ International, Inc. This is achieved by granting stock options to these directors, allowing them to purchase shares of the company's stock at a predetermined price over a specified period. By providing an opportunity to acquire company stock, this plan incentivizes nonemployee directors to contribute their knowledge and expertise to drive the company's growth and success. The Hennepin Minnesota Nonemployee Directors Stock Plan offers various types of stock options to nonemployee directors. It may include, but is not limited to, the following types: 1. Nonqualified Stock Options: These options provide the nonemployee directors with the right to purchase company stock at a predetermined exercise price. These options are not subject to specific tax advantages but are often more flexible in terms of exercise. 2. Incentive Stock Options: These options are designed to provide tax advantages to the nonemployee directors. They allow the purchase of company stock at a predetermined exercise price, which is often lower than the fair market value at the time of grant. To qualify for tax benefits, specific holding requirements and other criteria need to be met. 3. Restricted Stock Units (RSS): In addition to stock options, the plan may also include RSS. RSS are not actual shares of the company but represent the right to receive company stock at a future date or upon the achievement of predetermined conditions. The Hennepin Minnesota Nonemployee Directors Stock Plan of TJ International, Inc. ensures that nonemployee directors have a vested interest in the company's success. It enables these individuals to participate in the company's growth, aligning their financial interests with those of shareholders. This plan reinforces the company's commitment to fostering strong corporate governance, attracting top talent, and retaining experienced directors who are crucial to making strategic decisions in the best interest of the company and its stakeholders.