This excerpt taken from the DRH DEF 14A filed Mar 13, 2007.
The following is a summary of the principal features of the Incentive Plan as amended by our Board of Directors. Our Board of Directors believes that the amended Incentive Plan will be an important and effective means of attracting, retaining, and motivating qualified personnel.
Since the formation of our Company, we have issued only shares of restricted stock and deferred stock units. We have not issued any options or other forms of equity-based compensation and do not intend to issue any such options or other equity-based compensation in 2007 as we believe issuing restricted stock or deferred stock units is a more appropriate method of providing long term incentives for our directors, executive officers and other employees. Nevertheless, the Incentive Plan is a typical flexible equity plan which enables our Board of Directors and its Compensation Committee to issue options and other equity-based compensation if they believe such compensation is appropriate.
The Incentive Plan provides for the grant of restricted stock, unrestricted stock, other stock-based awards, deferred stock units and performance share awards (collectively, Stock Awards), as well as qualified incentive stock options (ISOs) which meet the requirements of Section 422 of the Code, stock options not so qualified (NQSOs and, together with ISOs, Options), stock appreciation rights (SARs), Performance Units and dividend equivalent rights (DERs). The effective date of the amendment to the Incentive Plan will be the date it is approved by stockholders and the Incentive Plan will terminate ten years from the effective date. However, grants made under the Incentive Plan may extend beyond that date,
Since the formation of our Company, we have issued only shares of restricted stock and deferred stock units. We have not issued any Options, SARs, DERs or other forms of equity-based compensation and do not intend to issue any such compensation in 2007.