The purpose of the non-employee director stock option plan is to attract and retain highly qualified people who are not employees of the company or any of its subsidiaries to serve as non-employee directors of the company, and to encourage non-employee directors to own shares of the company's common stock.
The Fulton Georgia Nonemployee Director Stock Option Plan (hereinafter referred to as the "Plan") is a comprehensive compensation program designed specifically for nonemployee directors serving on the board of directors in Fulton, Georgia. This Plan aims to align the interests of directors with the company's long-term success by providing them with an opportunity to acquire company stock through stock options. Under this plan, nonemployee directors are granted stock options that enable them to purchase company shares at a predetermined price, known as the exercise price, within a specified period. These stock options typically vest over a specific period, generally incentivizing directors to remain on the board for an extended duration. The Fulton Georgia Nonemployee Director Stock Option Plan offers various types of stock options tailored to cater to the specific needs and preferences of nonemployee directors. These types differ based on the timing, exercise price, and potential tax implications associated with the options. Here are a few commonly offered types of stock options under the Plan: 1. Non-Qualified Stock Options (Nests): These stock options allow nonemployee directors to purchase company shares at a pre-established price for a specific period. Nests are often more flexible than other options, but they may be subject to potential tax implications upon exercise. 2. Incentive Stock Options (SOS): SOS grant nonemployee directors the right to acquire company shares at a price set at the time of grant, provided specific requirements outlined by the Internal Revenue Code are met. SOS offer potential tax advantages if certain holding periods and other qualifying criteria are satisfied. 3. Restricted Stock Units (RSS): RSS represent an agreement to receive company shares at a future date or upon meeting predetermined conditions. Nonemployee directors receive RSS as a form of deferred compensation based on the board's discretion. Upon vesting, RSS convert into actual stocks without the need for additional payment. 4. Performance-Based Stock Options: These options are tied to the achievement of specific performance goals or metrics set by the board. If the predetermined performance objectives are met, nonemployee directors may exercise the stock options. It is important to note that the specific details and terms of the Fulton Georgia Nonemployee Director Stock Option Plan may vary from company to company or based on any applicable legal or regulatory requirements. Nonemployee directors should refer to the plan documents and consult with their legal and financial advisors for a thorough understanding of their stock option grant and associated rights.The Fulton Georgia Nonemployee Director Stock Option Plan (hereinafter referred to as the "Plan") is a comprehensive compensation program designed specifically for nonemployee directors serving on the board of directors in Fulton, Georgia. This Plan aims to align the interests of directors with the company's long-term success by providing them with an opportunity to acquire company stock through stock options. Under this plan, nonemployee directors are granted stock options that enable them to purchase company shares at a predetermined price, known as the exercise price, within a specified period. These stock options typically vest over a specific period, generally incentivizing directors to remain on the board for an extended duration. The Fulton Georgia Nonemployee Director Stock Option Plan offers various types of stock options tailored to cater to the specific needs and preferences of nonemployee directors. These types differ based on the timing, exercise price, and potential tax implications associated with the options. Here are a few commonly offered types of stock options under the Plan: 1. Non-Qualified Stock Options (Nests): These stock options allow nonemployee directors to purchase company shares at a pre-established price for a specific period. Nests are often more flexible than other options, but they may be subject to potential tax implications upon exercise. 2. Incentive Stock Options (SOS): SOS grant nonemployee directors the right to acquire company shares at a price set at the time of grant, provided specific requirements outlined by the Internal Revenue Code are met. SOS offer potential tax advantages if certain holding periods and other qualifying criteria are satisfied. 3. Restricted Stock Units (RSS): RSS represent an agreement to receive company shares at a future date or upon meeting predetermined conditions. Nonemployee directors receive RSS as a form of deferred compensation based on the board's discretion. Upon vesting, RSS convert into actual stocks without the need for additional payment. 4. Performance-Based Stock Options: These options are tied to the achievement of specific performance goals or metrics set by the board. If the predetermined performance objectives are met, nonemployee directors may exercise the stock options. It is important to note that the specific details and terms of the Fulton Georgia Nonemployee Director Stock Option Plan may vary from company to company or based on any applicable legal or regulatory requirements. Nonemployee directors should refer to the plan documents and consult with their legal and financial advisors for a thorough understanding of their stock option grant and associated rights.
