Alabama Long Term Performance and Restricted Stock Incentive Plan of Ipalco Enterprises, Inc.

• Category: Corporations - Public - Incentive Compensation Plans
• State: Multi-State
• Control #: US-CC-20-174D
• Format: Word; Rich Text

Description

20-174D 20-174D . . . Restricted Stock Incentive Plan under which Compensation Committee selects participants, determines number of shares of common stock covered by each grant, establishes appropriate performance measures, and chooses appropriate corporation peer group. The number of shares granted is equal to a percentage of participant's base salary for first calendar year of each three-year program. The base salary percentage target of first three-year grants range from 10% to 35%; maximum base salary grant permitted by Plan may not exceed 70% of participant's base salary. After end of a Performance Period, Committee determines adjustments, if any, that are required to be made to share grants for Performance Period based on actual results under Performance Measures (performance of corporation versus its peer group) for such Performance Period. After adjustments, restrictions on shares held by participant are lifted as to 1/3 on July 1 immediately following Performance Period and additional 1/3 increments on the first and second anniversaries of such July 1, provided participant is still employed by corporation on such date. If participant ceases to be employed by corporation before restrictions lapse on shares held by him or her, shares still subject to restrictions are immediately forfeited The Alabama Long Term Performance and Restricted Stock Incentive Plan is offered by INALCOL Enterprises, Inc., providing employees with an opportunity to be rewarded based on their long-term performance and dedication to the company. This plan offers both long-term incentives and restricted stock options to eligible employees. The main goal of the Alabama Long Term Performance and Restricted Stock Incentive Plan is to motivate employees to achieve sustained performance and align their interests with the company's long-term success. It aims to attract, retain, and reward talented individuals by offering them a stake in the company's future growth and profitability. Under this plan, employees may be offered different types of incentives and stock options, depending on their position and level of performance. These may include: 1. Performance-Based Incentives: Eligible employees who meet or exceed certain predefined performance metrics may receive cash bonuses or additional stock options. These incentives are designed to reward exceptional performance and contribute to the company's overall success. 2. Restricted Stock Units (RSS): This type of stock option grants employees the right to receive company shares at a predetermined future date, subject to certain vesting conditions. By providing RSS, the company encourages employee loyalty and long-term commitment, as the stock units typically vest over a specified period, motivating employees to stay with the company and contribute to its growth. 3. Performance Stock Units (Plus): Plus are another type of performance-based stock option, where employees receive shares of the company's stock based on achieving predetermined performance goals. These goals may include financial targets, operational objectives, or other metrics relevant to the company's growth and success. 4. Dividend Equivalents: Some variations of the Alabama Long Term Performance and Restricted Stock Incentive Plan may also allow employees to receive equivalent cash payments or additional stock options representing the dividends they would have received if they held the company's stock directly. This feature further aligns employees' interests with those of shareholders and encourages long-term investment in the company. It is important to note that the specific terms and conditions of the Alabama Long Term Performance and Restricted Stock Incentive Plan may vary based on individual employment agreements, company policies, and legal requirements. Employees should refer to the plan documents and consult with their HR department for the most accurate and up-to-date information regarding their participation.

The Alabama Long Term Performance and Restricted Stock Incentive Plan is offered by INALCOL Enterprises, Inc., providing employees with an opportunity to be rewarded based on their long-term performance and dedication to the company. This plan offers both long-term incentives and restricted stock options to eligible employees. The main goal of the Alabama Long Term Performance and Restricted Stock Incentive Plan is to motivate employees to achieve sustained performance and align their interests with the company's long-term success. It aims to attract, retain, and reward talented individuals by offering them a stake in the company's future growth and profitability. Under this plan, employees may be offered different types of incentives and stock options, depending on their position and level of performance. These may include: 1. Performance-Based Incentives: Eligible employees who meet or exceed certain predefined performance metrics may receive cash bonuses or additional stock options. These incentives are designed to reward exceptional performance and contribute to the company's overall success. 2. Restricted Stock Units (RSS): This type of stock option grants employees the right to receive company shares at a predetermined future date, subject to certain vesting conditions. By providing RSS, the company encourages employee loyalty and long-term commitment, as the stock units typically vest over a specified period, motivating employees to stay with the company and contribute to its growth. 3. Performance Stock Units (Plus): Plus are another type of performance-based stock option, where employees receive shares of the company's stock based on achieving predetermined performance goals. These goals may include financial targets, operational objectives, or other metrics relevant to the company's growth and success. 4. Dividend Equivalents: Some variations of the Alabama Long Term Performance and Restricted Stock Incentive Plan may also allow employees to receive equivalent cash payments or additional stock options representing the dividends they would have received if they held the company's stock directly. This feature further aligns employees' interests with those of shareholders and encourages long-term investment in the company. It is important to note that the specific terms and conditions of the Alabama Long Term Performance and Restricted Stock Incentive Plan may vary based on individual employment agreements, company policies, and legal requirements. Employees should refer to the plan documents and consult with their HR department for the most accurate and up-to-date information regarding their participation.