California Long Term Incentive Compensation Plan of A.M. Castle and Co.

• Category: Corporations - Public - Incentive Compensation Plans
• State: Multi-State
• Control #: US-CC-20-181
• Format: Word; Rich Text

Description

20-181 20-181 . . . Long Term Incentive Compensation Plan under which Human Resources Committee designates employees who will be participants in Plan and establishes Maximum Award Percentage with respect to each participant for each three year performance cycle. Each participant is entitled to a Performance Award if annual compounded total return (based upon stock appreciation and deemed reinvestment of dividends) on corporation common stock for that performance cycle equals or exceeds 1.5% plus annual compounded total return on common stock of Standard & Poor's 500 Industrials for such period. A participant's Performance Award for a performance cycle is amount equal to product of (a) participant's base salary multiplied by (b) his Maximum Award Percentage multiplied by (c) applicable Attainment Percentage for that performance cycle The California Long Term Incentive Compensation Plan of A.M. Castle and Co. is a comprehensive program designed to motivate and reward employees for their long-term commitment and outstanding performance within the organization. This plan not only ensures employee retention but also aligns their interests with the overall goals and values of the company. Under the California Long Term Incentive Compensation Plan, employees are provided with a variety of incentives to encourage excellence and drive the success of A.M. Castle and Co. One type of incentive offered is stock options, allowing employees the opportunity to purchase company stock at a discounted rate or the current market value. This serves as a powerful motivator, as it directly links employee rewards with the company's stock performance and overall success. Another component of the plan comprises restricted stock units (RSS). RSS are grants of stock that have certain restrictions placed on them, such as vesting over a specific period or being tied to the achievement of specific performance goals. This ensures that employees remain committed to the company's long-term success, as the value of their RSS is tied to the company's performance over time. Additionally, the California Long Term Incentive Compensation Plan may include performance-based cash bonuses. These bonuses are distributed to employees based on achieving predetermined performance targets, such as revenue growth, cost savings, or customer satisfaction. This type of incentive encourages employees to go above and beyond in their roles and contribute to the company's overall success. To ensure fairness and transparency, the plan is typically governed by a comprehensive set of guidelines and policies, which outline the criteria for eligibility, grant levels, vesting schedules, and performance metrics. These guidelines help maintain consistency and ensure that the incentives provided align with the company's strategic objectives and financial capabilities. In conclusion, the California Long Term Incentive Compensation Plan of A.M. Castle and Co. is a robust program that rewards and motivates employees over the long term. By offering stock options, restricted stock units, and performance-based cash bonuses, this plan aligns employees' interests with the company's success, ultimately driving growth and enhancing shareholder value.

The California Long Term Incentive Compensation Plan of A.M. Castle and Co. is a comprehensive program designed to motivate and reward employees for their long-term commitment and outstanding performance within the organization. This plan not only ensures employee retention but also aligns their interests with the overall goals and values of the company. Under the California Long Term Incentive Compensation Plan, employees are provided with a variety of incentives to encourage excellence and drive the success of A.M. Castle and Co. One type of incentive offered is stock options, allowing employees the opportunity to purchase company stock at a discounted rate or the current market value. This serves as a powerful motivator, as it directly links employee rewards with the company's stock performance and overall success. Another component of the plan comprises restricted stock units (RSS). RSS are grants of stock that have certain restrictions placed on them, such as vesting over a specific period or being tied to the achievement of specific performance goals. This ensures that employees remain committed to the company's long-term success, as the value of their RSS is tied to the company's performance over time. Additionally, the California Long Term Incentive Compensation Plan may include performance-based cash bonuses. These bonuses are distributed to employees based on achieving predetermined performance targets, such as revenue growth, cost savings, or customer satisfaction. This type of incentive encourages employees to go above and beyond in their roles and contribute to the company's overall success. To ensure fairness and transparency, the plan is typically governed by a comprehensive set of guidelines and policies, which outline the criteria for eligibility, grant levels, vesting schedules, and performance metrics. These guidelines help maintain consistency and ensure that the incentives provided align with the company's strategic objectives and financial capabilities. In conclusion, the California Long Term Incentive Compensation Plan of A.M. Castle and Co. is a robust program that rewards and motivates employees over the long term. By offering stock options, restricted stock units, and performance-based cash bonuses, this plan aligns employees' interests with the company's success, ultimately driving growth and enhancing shareholder value.