Attached files
file | filename |
---|---|
10-Q - FORM 10-Q - HOME PROPERTIES INC | c98843e10vq.htm |
EX-31.2 - EXHIBIT 31.2 - HOME PROPERTIES INC | c98843exv31w2.htm |
EX-32.2 - EXHIBIT 32.2 - HOME PROPERTIES INC | c98843exv32w2.htm |
EX-31.1 - EXHIBIT 31.1 - HOME PROPERTIES INC | c98843exv31w1.htm |
EX-10.1 - EXHIBIT 10.1 - HOME PROPERTIES INC | c98843exv10w1.htm |
EX-32.1 - EXHIBIT 32.1 - HOME PROPERTIES INC | c98843exv32w1.htm |
EX-10.3 - EXHIBIT 10.3 - HOME PROPERTIES INC | c98843exv10w3.htm |
Exhibit 10.2
EQUITY GRANTS FOR NON-EMPLOYEE DIRECTORS
Adopted by the Board of Directors on May 4, 2010
Adopted by the Board of Directors on May 4, 2010
On May 11, 2010, each of the non-employee directors will be granted options to purchase Common
Stock of Home Properties, Inc. (the Company) having a value of $21,000. The exercise price for
the options to be issued will be the closing price of a share of the Companys Common Stock as
reflected on the New York Stock Exchange on May 11, 2010 (the Closing Price). The number of
options to be granted will be calculated by dividing the award value by the value of each option
determined using the Black-Scholes formula.
On May 11, 2010, each of the non-employee directors also will be granted shares of the Companys
restricted stock having a value of $63,000. The number of shares of restricted stock to be granted
will be calculated by dividing the awarded value by the Closing Price.
The options and the restricted stock will be granted pursuant to the terms of the Companys 2008
Stock Benefit Plan, as amended.
The options will vest 20% on each of the first five grant date anniversaries (May 11 of 2011, 2012,
2013, 2014 and 2015) and terminate 10 years after the grant date. The restrictions on the
restricted stock will lapse on the fifth anniversary of the grant date.