California 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 California Long Term Performance and Restricted Stock Incentive Plan of INALCOL Enterprises, Inc. is a comprehensive compensation program designed to attract and retain highly talented individuals within the company. This plan is specifically tailored to employees located in California. This plan focuses on two key components: long-term performance incentives and restricted stock awards. The long-term performance incentives aim to motivate employees to achieve exceptional results over an extended period of time. These incentives are typically granted based on predetermined performance goals, such as financial targets or strategic milestones. By tying rewards to long-term success, it encourages employees to think beyond immediate objectives and contribute to the overall growth and profitability of the company. Additionally, the California Long Term Performance and Restricted Stock Incentive Plan includes restricted stock awards. These awards are granted to employees as a form of ownership in the company. However, they come with certain restrictions on their sale or transfer for a defined period. This encourages employees to remain with the company and align their interests with the organization's long-term success. Restricted stock awards often vest over time, providing an additional incentive for employees to stay committed and actively contribute to the company's growth. The California Long Term Performance and Restricted Stock Incentive Plan may have different variations or types, tailored to specific employee groups or levels within INALCOL Enterprises, Inc. One variation could be a plan specifically designed for executives or senior-level employees who play a critical role in the company's strategic decision-making. This plan may include higher targets, more significant rewards, and additional performance metrics directly aligned with the company's key objectives. Another type of plan within this framework could be a modified version for employees working in specific areas, such as research and development or sales. These plans may have performance metrics tailored to their respective roles and might include industry-specific benchmarks. Overall, the California Long Term Performance and Restricted Stock Incentive Plan ensures that employees are motivated to achieve exceptional long-term performance, act in the best interest of the company, and play a vital role in enhancing INALCOL Enterprises, Inc.'s position in the market. By offering a combination of performance incentives and restricted stock awards, the company can attract and retain top talent, driving growth and success in the highly competitive Californian business landscape.