Arizona 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 Arizona Book Value Phantom Stock Plan is a unique compensation plan implemented by First Florida Banks, Inc. It is designed to provide employees with the opportunity to participate in the bank's growth and success. This stock plan is specifically associated with the Arizona branch of First Florida Banks, Inc. and offers numerous benefits to its participants. The main concept behind the Arizona Book Value Phantom Stock Plan is to create a stock appreciation program without actually issuing real company shares. Instead, employees receive a virtual stock unit that mirrors the increase in the bank's book value over time. This plan not only grants employees the potential to earn financial rewards but also aligns their interests with the bank's long-term growth. By implementing the Arizona Book Value Phantom Stock Plan, First Florida Banks, Inc. encourages employees to play an active role in enhancing the overall value of the company. As the bank's book value increases, so does the value of the virtual stock units held by the plan participants. This approach fosters a culture of teamwork, dedication, and commitment among employees, ultimately leading to the bank's success. As for the different types of the Arizona Book Value Phantom Stock Plan, they can vary based on eligibility criteria, vesting schedules, and other specific provisions. However, it's important to note that the exact details of these plans might be proprietary information specific to First Florida Banks, Inc. Therefore, without access to confidential documents, it is difficult to provide a detailed description of the various types of the Arizona Book Value Phantom Stock Plan. In summary, the Arizona Book Value Phantom Stock Plan is an innovative compensation program implemented by First Florida Banks, Inc. to award and motivate employees. This plan imitates the increase in the bank's book value over time, granting participants virtual stock units that hold value in correlation with the company's success. By participating in this plan, employees not only have the potential to earn financial rewards but also contribute to the long-term growth of the bank. Overall, the Arizona Book Value Phantom Stock Plan demonstrates the commitment of First Florida Banks, Inc. to recognize and incentivize its employees for their valuable contributions.

The Arizona Book Value Phantom Stock Plan is a unique compensation plan implemented by First Florida Banks, Inc. It is designed to provide employees with the opportunity to participate in the bank's growth and success. This stock plan is specifically associated with the Arizona branch of First Florida Banks, Inc. and offers numerous benefits to its participants. The main concept behind the Arizona Book Value Phantom Stock Plan is to create a stock appreciation program without actually issuing real company shares. Instead, employees receive a virtual stock unit that mirrors the increase in the bank's book value over time. This plan not only grants employees the potential to earn financial rewards but also aligns their interests with the bank's long-term growth. By implementing the Arizona Book Value Phantom Stock Plan, First Florida Banks, Inc. encourages employees to play an active role in enhancing the overall value of the company. As the bank's book value increases, so does the value of the virtual stock units held by the plan participants. This approach fosters a culture of teamwork, dedication, and commitment among employees, ultimately leading to the bank's success. As for the different types of the Arizona Book Value Phantom Stock Plan, they can vary based on eligibility criteria, vesting schedules, and other specific provisions. However, it's important to note that the exact details of these plans might be proprietary information specific to First Florida Banks, Inc. Therefore, without access to confidential documents, it is difficult to provide a detailed description of the various types of the Arizona Book Value Phantom Stock Plan. In summary, the Arizona Book Value Phantom Stock Plan is an innovative compensation program implemented by First Florida Banks, Inc. to award and motivate employees. This plan imitates the increase in the bank's book value over time, granting participants virtual stock units that hold value in correlation with the company's success. By participating in this plan, employees not only have the potential to earn financial rewards but also contribute to the long-term growth of the bank. Overall, the Arizona Book Value Phantom Stock Plan demonstrates the commitment of First Florida Banks, Inc. to recognize and incentivize its employees for their valuable contributions.