Brookline Bancorp, Inc. Stockholders Approve Stock Option Plan and Recognition and Retention Plan.Business Editors BROOKLINE Brookline (br  k`līn), town (1990 pop. 54,718), Norfolk co., E Mass., a suburb adjacent to Boston; settled 1630s, set off from Boston and inc. 1705. , Mass.--(BUSINESS WIRE)--Aug. 27, 2003 The stockholders of Brookline Bancorp, Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : BRKL) voted approval of the Brookline Bancorp, Inc. 2003 Stock Option Plan (the "2003 Stock Option Plan") and the Brookline Bancorp, Inc. 2003 Recognition and Retention Plan (the "2003 Recognition Plan"). Pursuant to the 2003 Stock Option Plan, options to acquire up to 2,500,000 shares of common stock of Brookline Bancorp, Inc. (or 4.3% of the Company's shares outstanding) may be granted to the employees and directors of the Company and Brookline Bank, its banking subsidiary. The awards may be in the form of stock options, reload options Reload Option An employee stock option that grants additional options upon exercise of the original. Notes: The employee satisfies the exercise price of their current option with shares rather than cash. , limited stock appreciation rights and/or and/or conj. Used to indicate that either or both of the items connected by it are involved. Usage Note: And/or is widely used in legal and business writing. dividend equivalent rights. The term of stock options will not exceed ten years from the date of grant. The exercise price of the stock options will be at least equal to the fair market value of the common stock of Brookline Bancorp, Inc. at the time of the grant. Shares issued upon the exercise of a stock option may be authorized au·thor·ize tr.v. au·thor·ized, au·thor·iz·ing, au·thor·iz·es 1. To grant authority or power to. 2. To give permission for; sanction: but unissued shares, treasury shares or shares acquired by the Company in open market purchases. No stock option awards have been granted to date under the 2003 Stock Option Plan. Pursuant to the 2003 Recognition Plan, up to 1,250,000 shares of common stock of Brookline Bancorp, Inc. (or 2.2% of the Company's shares outstanding) may be awarded to the employees and directors of the Company and Brookline Bank. Shares for awards may be from authorized but unissued shares, treasury shares or may be acquired by the Company in open market purchases. No stock awards have been granted to date under the 2003 Recognition Plan. Brookline Bancorp, Inc. is a Delaware Delaware, state, United States Delaware (dĕl`əwâr, –wər), one of the Middle Atlantic states of the United States, the country's second smallest state (after Rhode Island). holding company whose principal subsidiary is Brookline Bank, a federally chartered financial institution. At June 30, 2003, the Company had total assets of $1.4 billion, total stockholders' equity Stockholders' Equity The portion of the balance sheet that includes capital received from investors in exchange for stock (paid-in capital), donated capital, and retained earnings. This is equal to total assets minus liabilities, preferred stock and intangible assets. of $615 million and 57,618,505 shares of common stock outstanding. |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion