Mecklenburg North Carolina Restricted Stock Plan of Sundstrand Corp.

• Category: Corporations - Public - Incentive Compensation Plans
• State: Multi-State
• County: Mecklenburg
• 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 Mecklenburg North Carolina Restricted Stock Plan is a unique offering from Bandstand Corp, a leading company in the aerospace and industrial equipment manufacturing sector. This stock plan is designed to provide employees in Mecklenburg County, North Carolina with an opportunity to become shareholders of the company. Under the Mecklenburg North Carolina Restricted Stock Plan, eligible employees are granted restricted stock units (RSS) as part of their compensation package. This RSS represents a promise by the company to deliver a specific number of shares of stock to the employee at a future date, subject to certain restrictions and conditions. Employees who participate in the Mecklenburg North Carolina Restricted Stock Plan benefit from the potential for long-term growth of Bandstand Corp. They have the opportunity to share in the company's success and align their financial interests with those of the shareholders. This stock plan serves as a valuable tool to retain and motivate the company's top talent. However, it's important to note that the Mecklenburg North Carolina Restricted Stock Plan does come with restrictions and conditions. Typically, these restrictions are time-based and vesting schedules determine when the shares become fully owned by the employee. This encourages employee loyalty and commitment to the company's long-term goals. In addition to the standard Mecklenburg North Carolina Restricted Stock Plan, Bandstand Corp. may have variations of this plan tailored to different employee groups or levels. For instance, there may be executive-level restricted stock plans that offer additional benefits or different vesting schedules. The company recognizes the importance of adapting its stock plans to provide maximum value to employees at various levels within the organization. In summary, the Mecklenburg North Carolina Restricted Stock Plan of Bandstand Corp. is a comprehensive and valuable employee benefit that aligns employee and shareholder interests. It allows eligible employees to receive restricted stock units, giving them the potential to earn shares in the company over time. Participating employees benefit from potential stock price appreciation and have a vested interest in the long-term success of Bandstand Corp.

The Mecklenburg North Carolina Restricted Stock Plan is a unique offering from Bandstand Corp, a leading company in the aerospace and industrial equipment manufacturing sector. This stock plan is designed to provide employees in Mecklenburg County, North Carolina with an opportunity to become shareholders of the company. Under the Mecklenburg North Carolina Restricted Stock Plan, eligible employees are granted restricted stock units (RSS) as part of their compensation package. This RSS represents a promise by the company to deliver a specific number of shares of stock to the employee at a future date, subject to certain restrictions and conditions. Employees who participate in the Mecklenburg North Carolina Restricted Stock Plan benefit from the potential for long-term growth of Bandstand Corp. They have the opportunity to share in the company's success and align their financial interests with those of the shareholders. This stock plan serves as a valuable tool to retain and motivate the company's top talent. However, it's important to note that the Mecklenburg North Carolina Restricted Stock Plan does come with restrictions and conditions. Typically, these restrictions are time-based and vesting schedules determine when the shares become fully owned by the employee. This encourages employee loyalty and commitment to the company's long-term goals. In addition to the standard Mecklenburg North Carolina Restricted Stock Plan, Bandstand Corp. may have variations of this plan tailored to different employee groups or levels. For instance, there may be executive-level restricted stock plans that offer additional benefits or different vesting schedules. The company recognizes the importance of adapting its stock plans to provide maximum value to employees at various levels within the organization. In summary, the Mecklenburg North Carolina Restricted Stock Plan of Bandstand Corp. is a comprehensive and valuable employee benefit that aligns employee and shareholder interests. It allows eligible employees to receive restricted stock units, giving them the potential to earn shares in the company over time. Participating employees benefit from potential stock price appreciation and have a vested interest in the long-term success of Bandstand Corp.