Arkansas Book Value Phantom Stock Plan of First Florida Banks, Inc.

• Category: Corporations - Public - Incentive Compensation Plans
• State: Multi-State
• Control #: US-CC-20-162A
• Format: Word; Rich Text

Description

20-162A 20-162A . . . Book Value Phantom Stock Plan under which Committee of Board of Directors may, from time to time, grant quantity of phantom shares to selected employees, each share being equivalent to one share of corporation common stock. Phantom shares may be exercised at any time within ten years of date of grant (subject to certain limitations in event of termination of employment) Upon exercise, employee is paid cash equal to increase in underlying net book value per share on fully diluted basis of shares between date of grant and date of exercise The Arkansas Book Value Phantom Stock Plan of First Florida Banks, Inc. is a specialized compensation program designed to reward employees based on the book value of the company's stock. This plan is primarily implemented by First Florida Banks, Inc., a financial institution operating in Arkansas that aims to incentivize and retain talented employees. The Arkansas Book Value Phantom Stock Plan offers employees the opportunity to participate in the growth and success of the company without actually owning any stock. Instead, they are granted virtual units, known as phantom stocks, which fluctuate in value based on the book value of the company's shares. These phantom stocks track the financial performance of the company and give employees a stake in its success. By implementing this plan, First Florida Banks, Inc. encourages employees to align their interests with the overall financial health of the company. The plan fosters a sense of ownership and commitment among employees, as they have a vested interest in maintaining and increasing the book value of the company's stock. Key features and benefits of the Arkansas Book Value Phantom Stock Plan may include: 1. Competitive Compensation: The plan serves as an attractive compensation tool, offering employees the potential to earn additional income based on the company's financial performance. 2. Retention and Motivation: By linking compensation to the book value of the stock, the plan helps retain valuable employees and motivates them to contribute to the company's growth and success. 3. Performance Tracking: The phantom stocks provide a transparent and measurable way to gauge the company's financial performance, allowing employees to track their shares' value over time. 4. Retirement Strategy: The plan can be designed to serve as an effective retirement strategy, allowing employees to accumulate wealth based on the growth of the company's book value. First Florida Banks, Inc. may offer different variations of the Arkansas Book Value Phantom Stock Plan, depending on specific employee groups or positions. These variations might include: 1. Executive Phantom Stock Plan: This plan could be tailored to reward executives and top-level management based on the book value of the company's stock. It may offer additional benefits or features to attract and retain key leadership positions. 2. Employee Phantom Stock Plan: This plan could be designed to include all regular employees, providing them with a share in the growth of the company's book value. It aims to motivate and reward a broad range of employees, fostering a sense of ownership and dedication. 3. Division-Specific Phantom Stock Plan: First Florida Banks, Inc. may implement division-specific phantom stock plans to cater to employees in different branches or departments. These plans can align with division-specific objectives, fostering a sense of unity and collective effort. The Arkansas Book Value Phantom Stock Plan of First Florida Banks, Inc. presents a unique compensation strategy that offers employees the opportunity to reap financial benefits through their contribution to the company's growth and success. This program not only rewards employees but also aligns their interests with the long-term goals of the organization.

The Arkansas Book Value Phantom Stock Plan of First Florida Banks, Inc. is a specialized compensation program designed to reward employees based on the book value of the company's stock. This plan is primarily implemented by First Florida Banks, Inc., a financial institution operating in Arkansas that aims to incentivize and retain talented employees. The Arkansas Book Value Phantom Stock Plan offers employees the opportunity to participate in the growth and success of the company without actually owning any stock. Instead, they are granted virtual units, known as phantom stocks, which fluctuate in value based on the book value of the company's shares. These phantom stocks track the financial performance of the company and give employees a stake in its success. By implementing this plan, First Florida Banks, Inc. encourages employees to align their interests with the overall financial health of the company. The plan fosters a sense of ownership and commitment among employees, as they have a vested interest in maintaining and increasing the book value of the company's stock. Key features and benefits of the Arkansas Book Value Phantom Stock Plan may include: 1. Competitive Compensation: The plan serves as an attractive compensation tool, offering employees the potential to earn additional income based on the company's financial performance. 2. Retention and Motivation: By linking compensation to the book value of the stock, the plan helps retain valuable employees and motivates them to contribute to the company's growth and success. 3. Performance Tracking: The phantom stocks provide a transparent and measurable way to gauge the company's financial performance, allowing employees to track their shares' value over time. 4. Retirement Strategy: The plan can be designed to serve as an effective retirement strategy, allowing employees to accumulate wealth based on the growth of the company's book value. First Florida Banks, Inc. may offer different variations of the Arkansas Book Value Phantom Stock Plan, depending on specific employee groups or positions. These variations might include: 1. Executive Phantom Stock Plan: This plan could be tailored to reward executives and top-level management based on the book value of the company's stock. It may offer additional benefits or features to attract and retain key leadership positions. 2. Employee Phantom Stock Plan: This plan could be designed to include all regular employees, providing them with a share in the growth of the company's book value. It aims to motivate and reward a broad range of employees, fostering a sense of ownership and dedication. 3. Division-Specific Phantom Stock Plan: First Florida Banks, Inc. may implement division-specific phantom stock plans to cater to employees in different branches or departments. These plans can align with division-specific objectives, fostering a sense of unity and collective effort. The Arkansas Book Value Phantom Stock Plan of First Florida Banks, Inc. presents a unique compensation strategy that offers employees the opportunity to reap financial benefits through their contribution to the company's growth and success. This program not only rewards employees but also aligns their interests with the long-term goals of the organization.