Summary of Stock Option Grants to Independent Directors (January–May 2004)

Contract Categories: Human Resources › Bonus & Incentive Agreements
Summary

This document outlines stock option grants awarded to independent directors of the company in January, April, and May 2004 under the 1999 Directors’ Stock Option Plan and the 1996 Stock Plan. The grants specify the number of shares, grant dates, and detailed vesting schedules for each director. The options vest either monthly over four years or with an initial 25% vesting after one year followed by monthly vesting. The agreement ensures independent directors receive equity compensation according to predetermined schedules.

Read More Arrow
EX-10.2 4 dex102.htm SUMMARY OF STOCK OPTION GRANTS MADE TO INDEPENDENT DIRECTORS Summary of Stock Option Grants Made to Independent Directors

Exhibit 10.2

 

Summary of Stock Option Grants Made to Independent Directors in January, April and May of 2004.

 

The following non-discretionary annual grants were made under the 1999 Directors’ Stock Option Plan using the form of 1999 Directors’ Nonstatutory Stock Option Agreement filed as Exhibit 10.1 to the Company’s Quarterly Report on Form 10-Q for the period ending March 31, 2002 filed on May 15, 2002.

 

Participant

    Grant Date
    Shares
  

Vesting Schedule

Covert, Harold L.

    1/12/04    12,000     1/48th of the shares vest monthly beginning on 2/12/04

Hedfors, Bo Christer

    1/12/04    12,000   1/48th of the shares vest monthly beginning on 2/12/04

Puckett, Bernard

    1/12/04    12,000   1/48th of the shares vest monthly beginning on 2/12/04

 

The following grants were made under the 1996 Stock Plan using the form of US Stock Option Agreement filed as Exhibit 10.3 to the Company’s current Quarterly Report on Form 10-Q.

 

Participant

    Grant Date
    Shares
  

Vesting Schedule

Denman, Kenneth D.

    4/23/04    20,000     25% vest on 4/23/05 and 1/48th of the shares monthly beginning on 5/23/05

Covert, Harold L.

    5/6/04    18,000   1/48th of the shares vest monthly beginning on 6/6/04

Denman, Kenneth D.

    5/6/04    30,000   25% vest on 5/6/05 and 1/48th of the shares monthly beginning on 6/6/05

Hedfors, Bo Christer

    5/6/04    18,000   1/48th of the shares vest monthly beginning on 6/6/04

Jabbar, Masood

    5/6/04    30,000   1/48th of the shares vest monthly beginning on 6/6/04

Puckett, Bernard

    5/6/04    18,000   1/48th of the shares vest monthly beginning on 6/6/04