Owens & Minor, Inc. Stock Option Grant Agreement for Named Executive Officers

Contract Categories: Business Finance › Stock Agreements
Summary

Owens & Minor, Inc. has established revised base salaries and granted stock options and restricted stock to its named executive officers, including the Chairman and CEO, President and COO, and other senior executives. The agreement specifies the number of stock options and restricted shares each executive receives, the exercise price for the options, and salary adjustments, particularly for Craig R. Smith upon his promotion. The grants are based on the company's stock price as of the grant date, with additional options for Mr. Smith upon his assumption of the CEO role.

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EX-10.1 2 dex101.htm FORM OF STOCK OPTION GRANT AGREEMENT Form of Stock Option Grant Agreement

Exhibit 10.1

 

OWENS & MINOR, INC.

REVISED BASE SALARIES AND STOCK OPTION AND RESTRICTED STOCK

GRANTS TO NAMED EXECUTIVE OFFICERS

 

Name (1)

  

Title

   

Revised

Annual

Base

Salary

    

Stock

Option

Grants

(shares)(2)

    

Restricted

Stock

Grants

(shares) 

G. Gilmer Minor, III

   Chairman and Chief Executive Officer    $ 780,207     37,500     2,800

Craig R. Smith

   President and Chief Operating Officer    $ 614,100 (3)   37,500 (4)   2,800

Mark Van Sumeren

   Senior Vice President, OMSolutions    $ 408,000     9,375     700

Jeffrey Kaczka

   Senior Vice President and Chief Financial Officer    $ 364,000     5,625     400
(1) Henry A. Berling, the Registrant’s other named executive officer, retired from the Registrant on January 1, 2005.
(2) All stock options were granted at an exercise price of $29.58, the closing price of Owens & Minor, Inc. common stock on 4/28/05 (the date of issuance).
(3) Effective July 1, 2005 when Mr. Smith assumes the position of President and Chief Executive Officer, his annual base salary shall be adjusted to $700,000.
(4) On July 1, 2005 when Mr. Smith assumes the position of President and Chief Executive Officer, he will receive a grant of 50,000 stock options at an exercise price equal to the closing price of Owens & Minor, Inc. common stock on such date.