Arkansas 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 Arkansas Restricted Stock Plan of Bandstand Corp. is an employee benefit program offered by Bandstand Corp., a prominent corporation based in Arkansas. This program is designed to provide eligible employees with an opportunity to acquire company stock while also implementing certain restrictions to ensure long-term employee commitment and collaboration with the corporation's objectives. Under this plan, employees are granted restricted stock units (RSS) instead of traditional stock options. RSS represents a promise to deliver shares of company stock to employees at a predetermined future date, typically after a vesting period. During this vesting period, employees cannot sell, transfer, or pledge the RSS until certain conditions are met, typically related to tenure or performance milestones. One of the main goals of the Arkansas Restricted Stock Plan is to align the interests of employees with those of the company, fostering a sense of ownership and dedication. By providing RSS, Bandstand Corp. encourages employees to remain committed to the corporation's long-term success, as they must wait for the vesting period to pass before gaining full ownership of the shares. After this period, employees can decide whether to hold onto the shares or sell them. The Arkansas Restricted Stock Plan of Bandstand Corp. aims to reward and retain talented employees, encouraging them to contribute to the company's growth and profitability. By linking equity ownership with performance expectations and tenure, employees are motivated to go above and beyond to achieve corporate goals. It is worth noting that while the broad framework of the Arkansas Restricted Stock Plan remains consistent, there may be different types or variations of the plan offered by Bandstand Corp., tailored to specific employee groups or positions within the organization. Some potential variations could include Executive Restricted Stock Plans, Employee Stock Purchase Plans, and Performance-Based Restricted Stock Plans. The Executive Restricted Stock Plan may be available exclusively for senior executives and high-level management. This program typically offers more substantial grants, longer vesting periods, and additional incentives to attract and retain top-tier talent. Employee Stock Purchase Plans (ESPN) provide eligible employees with an opportunity to purchase company stock at a discounted price. This type of plan allows employees to contribute a portion of their salary towards the purchase of shares, often through regular payroll deductions. Performance-Based Restricted Stock Plans set specific performance targets or metrics that employees must meet to earn the shares. These plans provide an added layer of motivation by linking equity grants to the achievement of predetermined corporate or individual goals. In summary, the Arkansas Restricted Stock Plan of Bandstand Corp. is a comprehensive employee benefit program offering restricted stock units to eligible employees. Through this plan, Bandstand Corp. aims to promote employee ownership, long-term commitment, and alignment with the company's objectives. Various types of plans, such as Executive Restricted Stock Plans, Employee Stock Purchase Plans, and Performance-Based Restricted Stock Plans, may be available to different employee groups within the organization.

The Arkansas Restricted Stock Plan of Bandstand Corp. is an employee benefit program offered by Bandstand Corp., a prominent corporation based in Arkansas. This program is designed to provide eligible employees with an opportunity to acquire company stock while also implementing certain restrictions to ensure long-term employee commitment and collaboration with the corporation's objectives. Under this plan, employees are granted restricted stock units (RSS) instead of traditional stock options. RSS represents a promise to deliver shares of company stock to employees at a predetermined future date, typically after a vesting period. During this vesting period, employees cannot sell, transfer, or pledge the RSS until certain conditions are met, typically related to tenure or performance milestones. One of the main goals of the Arkansas Restricted Stock Plan is to align the interests of employees with those of the company, fostering a sense of ownership and dedication. By providing RSS, Bandstand Corp. encourages employees to remain committed to the corporation's long-term success, as they must wait for the vesting period to pass before gaining full ownership of the shares. After this period, employees can decide whether to hold onto the shares or sell them. The Arkansas Restricted Stock Plan of Bandstand Corp. aims to reward and retain talented employees, encouraging them to contribute to the company's growth and profitability. By linking equity ownership with performance expectations and tenure, employees are motivated to go above and beyond to achieve corporate goals. It is worth noting that while the broad framework of the Arkansas Restricted Stock Plan remains consistent, there may be different types or variations of the plan offered by Bandstand Corp., tailored to specific employee groups or positions within the organization. Some potential variations could include Executive Restricted Stock Plans, Employee Stock Purchase Plans, and Performance-Based Restricted Stock Plans. The Executive Restricted Stock Plan may be available exclusively for senior executives and high-level management. This program typically offers more substantial grants, longer vesting periods, and additional incentives to attract and retain top-tier talent. Employee Stock Purchase Plans (ESPN) provide eligible employees with an opportunity to purchase company stock at a discounted price. This type of plan allows employees to contribute a portion of their salary towards the purchase of shares, often through regular payroll deductions. Performance-Based Restricted Stock Plans set specific performance targets or metrics that employees must meet to earn the shares. These plans provide an added layer of motivation by linking equity grants to the achievement of predetermined corporate or individual goals. In summary, the Arkansas Restricted Stock Plan of Bandstand Corp. is a comprehensive employee benefit program offering restricted stock units to eligible employees. Through this plan, Bandstand Corp. aims to promote employee ownership, long-term commitment, and alignment with the company's objectives. Various types of plans, such as Executive Restricted Stock Plans, Employee Stock Purchase Plans, and Performance-Based Restricted Stock Plans, may be available to different employee groups within the organization.