Arizona 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 Arizona Long Term Performance and Restricted Stock Incentive Plan of INALCOL Enterprises, Inc. is a comprehensive program designed to reward and incentivize employees for their long-term performance and dedication to the company. This plan aims to align employee interests with the overall growth and success of INALCOL Enterprises. Under this plan, eligible employees have the opportunity to acquire restricted stock units (RSS) or performance stock units (Plus). These units are awarded to employees as a form of compensation for their hard work and dedication. RSS and Plus are common forms of equity-based compensation that provide employees with a stake in the company's performance and future growth. The Arizona Long Term Performance and Restricted Stock Incentive Plan of INALCOL Enterprises, Inc. offers several key benefits to employees. Firstly, it encourages long-term commitment and loyalty, as RSS and Plus typically have vesting periods that incentivize employees to stay with the company for a certain period of time. This helps foster a sense of dedication and stability within the workforce. Secondly, the plan aligns the interests of employees with those of the company's shareholders. By tying compensation to the company's performance, employees are directly motivated to contribute to its success. This can lead to increased productivity and a stronger focus on achieving the company's goals. Furthermore, the plan provides employees with a valuable opportunity to benefit financially from the growth and profitability of INALCOL Enterprises, Inc. As the company prospers, the value of the RSS and Plus awarded to employees may increase, allowing them to share in the company's success. It is worth noting that while the Arizona Long Term Performance and Restricted Stock Incentive Plan of INALCOL Enterprises, Inc. is a comprehensive program, there may be variations or modifications within the plan depending on the specific needs and objectives of the company. These types of variations could include different vesting schedules, performance targets, or criteria for eligibility. Overall, the Arizona Long Term Performance and Restricted Stock Incentive Plan of INALCOL Enterprises, Inc. serves as a powerful tool to attract, retain, and motivate top talent within the company. By offering employees the opportunity to acquire RSS and Plus, it ensures that their efforts are rewarded, while also aligning their interests with the long-term success of INALCOL Enterprises, Inc.