California Restricted Stock Plan of Sundstrand Corp.

• Category: Corporations - Public - Incentive Compensation Plans
• State: Multi-State
• Control #: US-CC-20-171D
• Format: Word; Rich Text

Description

20-171D 20-171D . . . Restricted Stock Plan under which a committee of Board of Directors sells shares of common stock to certain officers and senior employees at a price substantially below current market price. The shares are subject to following restrictions: (a) prohibition against any sale or other transfer and (b) obligation that participant (at corporation's option) must resell shares to corporation at price he paid for them if he ceases to be employed by corporation prior to expiration of from five to nine years after shares were sold to him, for reasons other than normal retirement, death, total disability or early retirement with consent of Board or committee. Except as otherwise provided, restrictions lapse as to 1/5 of aggregate number of participant's shares at expiration or each of fifth through ninth years after his purchase of such shares The California Restricted Stock Plan of Bandstand Corp. is a comprehensive employee compensation program offered by Bandstand Corp., specifically designed for employees in the state of California. This plan ensures that eligible employees are awarded restricted stock units (RSS) as a form of long-term incentive compensation. With the California Restricted Stock Plan, employees receive RSS that represent ownership in the company, albeit subject to certain restrictions. These restrictions typically involve a vesting period during which the RSS cannot be sold, transferred, or exchanged. The purpose behind this is to encourage employees to remain with the company for an extended period, aligning their interests with the long-term success of Bandstand Corp. One key aspect of this plan is that it is in compliance with the specific regulations and laws governing restricted stock plans in the state of California. This ensures that all aspects of the plan adhere to the state's legal requirements, providing both employees and the company with the necessary safeguards. Employees enrolled in the California Restricted Stock Plan may have the opportunity to receive RSS based on various criteria, such as their position, performance, or length of service. The number of RSS allocated to each employee is determined by the company and may vary depending on individual circumstances. Upon the RSS vesting, employees have the option to convert them into company shares, which they can either hold or sell, subject to any applicable restrictions or regulations. The ultimate value of the RSS will depend on the company's performance and stock price at the time of conversion. It is worth noting that the California Restricted Stock Plan of Bandstand Corp. may have different variations or plans tailored to specific employee groups or levels within the organization. These variations cater to the diverse needs and goals of different employees, ensuring that the plan meets their unique circumstances and objectives. Overall, the California Restricted Stock Plan of Bandstand Corp. offers employees in the state the opportunity to participate in the company's growth by granting them RSS. This program serves as a valuable tool for incentivizing and rewarding employees for their contributions while aligning their interests with the long-term success of Bandstand Corp.

The California Restricted Stock Plan of Bandstand Corp. is a comprehensive employee compensation program offered by Bandstand Corp., specifically designed for employees in the state of California. This plan ensures that eligible employees are awarded restricted stock units (RSS) as a form of long-term incentive compensation. With the California Restricted Stock Plan, employees receive RSS that represent ownership in the company, albeit subject to certain restrictions. These restrictions typically involve a vesting period during which the RSS cannot be sold, transferred, or exchanged. The purpose behind this is to encourage employees to remain with the company for an extended period, aligning their interests with the long-term success of Bandstand Corp. One key aspect of this plan is that it is in compliance with the specific regulations and laws governing restricted stock plans in the state of California. This ensures that all aspects of the plan adhere to the state's legal requirements, providing both employees and the company with the necessary safeguards. Employees enrolled in the California Restricted Stock Plan may have the opportunity to receive RSS based on various criteria, such as their position, performance, or length of service. The number of RSS allocated to each employee is determined by the company and may vary depending on individual circumstances. Upon the RSS vesting, employees have the option to convert them into company shares, which they can either hold or sell, subject to any applicable restrictions or regulations. The ultimate value of the RSS will depend on the company's performance and stock price at the time of conversion. It is worth noting that the California Restricted Stock Plan of Bandstand Corp. may have different variations or plans tailored to specific employee groups or levels within the organization. These variations cater to the diverse needs and goals of different employees, ensuring that the plan meets their unique circumstances and objectives. Overall, the California Restricted Stock Plan of Bandstand Corp. offers employees in the state the opportunity to participate in the company's growth by granting them RSS. This program serves as a valuable tool for incentivizing and rewarding employees for their contributions while aligning their interests with the long-term success of Bandstand Corp.