Examples of Directors Plan in a sentence
Does not include 3,199 share units credited under the Prior Directors’ Plan, which are subject to the achievement of performance goals.
Shares subject to vested restricted stock units under the Directors’ Plan are generally issuable on the earlier of the first anniversary of the date of grant (or the third anniversary, in the case of annual awards prior to 2010 and quarterly awards prior to 2011) or the date the director’s service terminates, subject to deferred issuance at the director’s election in some cases.
Under the Directors’ Plan, non-employee directors receive an initial option to purchase 30,000 shares of common stock.
Options granted under the Directors’ Plan have an exercise price equal to the fair market value of the Company’s common stock on the date of grant and a term of ten years from the date of grant.
The total number of shares of common stock that may be issued pursuant to stock awards under the Directors’ Plan shall not exceed in the aggregate 1,200,000 shares.