Houston, Texas Nonemployee Directors Stock Plan is a comprehensive compensation program established by TJ International, Inc., a prominent global corporation, to reward and incentivize their nonemployee directors based in Houston, Texas. This plan offers various types of stock-based compensation to provide an attractive remuneration package and align the interests of these directors with the long-term success of the company. One type of the Houston, Texas Nonemployee Directors Stock Plan is the Restricted Stock Units (RSS). RSS are provided to nonemployee directors as an equity grant that vests over a specific period of time or upon achieving certain performance milestones. Upon vesting, the directors receive company shares or their equivalent value, enabling them to participate in the company's growth over time. Another type is Stock Options. Stock options grant the nonemployee directors the right to purchase company stock at a predetermined price, known as the exercise price. The exercise price is usually set at the stock's fair market value on the date of grant. This allows directors to benefit from any increase in the stock price above the exercise price. Furthermore, TJ International, Inc.'s Houston, Texas Nonemployee Directors Stock Plan may also include Performance Shares. Performance shares are granted to directors based on specific performance goals or metrics established by the company. These goals can include financial targets, stock price appreciation, or other strategic milestones. Performance shares provide directors with an additional opportunity to earn equity-based compensation if the company achieves or exceeds its performance objectives. The Houston, Texas Nonemployee Directors Stock Plan offers these various types of stock-based compensation as a means to attract highly qualified and experienced directors to serve on the company's board. By linking a significant portion of their compensation to company performance and long-term shareholder value, this plan encourages nonemployee directors to actively contribute their expertise and promote the overall success of TJ International, Inc. Overall, TJ International, Inc.'s Houston, Texas Nonemployee Directors Stock Plan showcases the company's commitment to recognize the critical role played by nonemployee directors and their contributions towards the company's growth and prosperity. Through a comprehensive array of stock-based compensation vehicles, this plan serves as an essential tool to attract, retain, and incentivize top talent on the board of TJ International, Inc.
Houston Texas Nonemployee Directors Stock Plan of TJ International, Inc.
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Non-Employee Directors' Equity Plan (1) Under the Non-Employee Directors' Equity Plan, a director may receive cash or stock in lieu of the nonqualified stock options granted under the 1998 Lilly and Stands Non-Employee Directors' Compensation Plan. An additional 5,000 shares are reserved for grants to directors of the Company's subsidiaries under the Non-Employee Director Stock Plan. In addition, if the Directors' Board finds it necessary in its good- faith judgment to grant stock option awards to a director in excess of 5,000 shares, the compensation committee of the Compensation Committee has the authority to adjust the number subject to stock options granted to the director to less than 5,000. In no circumstance shall the number in excess of 5,000 be subject to stock option grants to a director on a percentage basis.
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