Arizona Officer Long Term Incentive Compensation Plan for Southern California Edison Co.

• Category: Corporations - Public - Incentive Compensation Plans
• State: Multi-State
• Control #: US-CC-18-266C
• Format: Word; Rich Text

Description

18-266C 18-266C . . . Officer Long Term Incentive Compensation Plan under which compensation committee can grant (i) stock appreciation equivalents (hypothetical stock "units" which are granted to participant and upon which value of any incentive award is calculated), (ii) dividend equivalents (which represent value of dividends per share paid by corporation, calculated upon stock or stock units held by participant and which, if objectives set by committee are met, are paid to participant), (iii) Non-qualified Stock Options, (iv) incentive stock options, (v) restricted stock, (vi) stock appreciation rights, and (vii) performance awards The Arizona Officer Long-Term Incentive Compensation Plan (OLT ICP) is a comprehensive compensation package offered by Southern California Edison Co. (SHE) to its officers based in the state of Arizona. This plan aims to attract and retain top talent in executive positions by providing long-term incentives and rewards that align with the company's growth and performance objectives. Here is a detailed description of the Arizona Officer Long-Term Incentive Compensation Plan and its different types: 1. Performance-Based Stock Units (Pass): Under this component of the OLT ICP, officers receive stock units that are tied to the company's performance metrics and goals. These units are granted annually and vest over a specified period, usually three years. The number of units awarded depends on the officer's position and performance. The value of these units is determined based on the company's stock price. 2. Restricted Stock Units (RSS): This aspect of the OLT ICP provides officers with a grant of restricted stock units, which represent a promise to deliver company shares at a future date. These units typically vest over a predetermined period, such as three years. The number of RSS awarded is based on the officer's position and performance. Once vested, officers can convert the units into actual company shares. 3. Cash Incentive Plan (CIP): The CIP component of the OLT ICP enables officers to earn cash bonuses based on achieving performance targets. These targets are set annually and may include financial goals, operational targets, and strategic objectives. The cash incentives are calculated as a percentage of the officer's base salary and can vary based on individual performance. 4. Long-Term Cash Incentive Plan (LT CIP): The LT CIP is a supplementary cash incentive program offered to certain officers as part of their long-term compensation. This plan provides officers with a cash bonus based on performance over a multi-year period, typically three years. The bonuses are determined by robust performance measures, such as earnings growth, shareholder return, and regulatory compliance. 5. Multi-year Performance Shares (MAPS): As part of the OLT ICP, officers may receive MAPS grants, which represent an opportunity to earn additional shares based on the company's performance over a specified period. The MAPS grants are subject to performance goals and vesting conditions, rewarding officers with additional shares if predetermined targets are met. It is worth noting that while the Arizona Officer Long-Term Incentive Compensation Plan is designed to motivate and retain officers in SHE's Arizona operations, similar plans may exist for officers in other regions, such as California or Nevada. These plans might have specific variations or additions tailored to the local market conditions and legal requirements.

The Arizona Officer Long-Term Incentive Compensation Plan (OLT ICP) is a comprehensive compensation package offered by Southern California Edison Co. (SHE) to its officers based in the state of Arizona. This plan aims to attract and retain top talent in executive positions by providing long-term incentives and rewards that align with the company's growth and performance objectives. Here is a detailed description of the Arizona Officer Long-Term Incentive Compensation Plan and its different types: 1. Performance-Based Stock Units (Pass): Under this component of the OLT ICP, officers receive stock units that are tied to the company's performance metrics and goals. These units are granted annually and vest over a specified period, usually three years. The number of units awarded depends on the officer's position and performance. The value of these units is determined based on the company's stock price. 2. Restricted Stock Units (RSS): This aspect of the OLT ICP provides officers with a grant of restricted stock units, which represent a promise to deliver company shares at a future date. These units typically vest over a predetermined period, such as three years. The number of RSS awarded is based on the officer's position and performance. Once vested, officers can convert the units into actual company shares. 3. Cash Incentive Plan (CIP): The CIP component of the OLT ICP enables officers to earn cash bonuses based on achieving performance targets. These targets are set annually and may include financial goals, operational targets, and strategic objectives. The cash incentives are calculated as a percentage of the officer's base salary and can vary based on individual performance. 4. Long-Term Cash Incentive Plan (LT CIP): The LT CIP is a supplementary cash incentive program offered to certain officers as part of their long-term compensation. This plan provides officers with a cash bonus based on performance over a multi-year period, typically three years. The bonuses are determined by robust performance measures, such as earnings growth, shareholder return, and regulatory compliance. 5. Multi-year Performance Shares (MAPS): As part of the OLT ICP, officers may receive MAPS grants, which represent an opportunity to earn additional shares based on the company's performance over a specified period. The MAPS grants are subject to performance goals and vesting conditions, rewarding officers with additional shares if predetermined targets are met. It is worth noting that while the Arizona Officer Long-Term Incentive Compensation Plan is designed to motivate and retain officers in SHE's Arizona operations, similar plans may exist for officers in other regions, such as California or Nevada. These plans might have specific variations or additions tailored to the local market conditions and legal requirements.