Colorado 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 Colorado Book Value Phantom Stock Plan implemented by First Florida Banks, Inc. is an innovative compensation program designed to provide employees with an opportunity to reap financial benefits tied to the company's book value growth. This plan is specifically tailored to employees located in the state of Colorado. By rewarding participants with "phantom stock," which mirrors the value of the company's common stock, it allows employees to feel a sense of ownership and aligns their interests with the overall success of First Florida Banks, Inc. The Colorado Book Value Phantom Stock Plan is based on the tangible book value per share, which represents the net worth of the company after deducting intangible assets and liabilities from the total book value. Participants in this plan are granted units of phantom stock, the value of which is determined based on the company's tangible book value per share. As the tangible book value increases over time, so does the value of the phantom stock units, enabling employees to accumulate wealth as the company grows. Different types or variations of the Colorado Book Value Phantom Stock Plan may exist within First Florida Banks, Inc. For instance, there might be tiers or levels within the plan, offering different benefits based on an employee's position or tenure. Additionally, the plan may have vesting requirements to ensure that employees remain with the company for a certain period before fully benefiting from stock appreciation. Participants of the Colorado Book Value Phantom Stock Plan of First Florida Banks, Inc. can track their phantom stock units, their current value, and potential growth through a designated platform or system. This transparency enables employees to understand their financial stake in the company and encourages them to actively contribute to its success. In conclusion, the Colorado Book Value Phantom Stock Plan is an innovative compensation program offered exclusively to employees in the state of Colorado at First Florida Banks, Inc. It allows participants to accumulate wealth by granting them phantom stock units linked to the company's tangible book value per share. Through this plan, employees gain a sense of ownership, align their interests with the company's growth, and are rewarded for their dedication and contribution.

The Colorado Book Value Phantom Stock Plan implemented by First Florida Banks, Inc. is an innovative compensation program designed to provide employees with an opportunity to reap financial benefits tied to the company's book value growth. This plan is specifically tailored to employees located in the state of Colorado. By rewarding participants with "phantom stock," which mirrors the value of the company's common stock, it allows employees to feel a sense of ownership and aligns their interests with the overall success of First Florida Banks, Inc. The Colorado Book Value Phantom Stock Plan is based on the tangible book value per share, which represents the net worth of the company after deducting intangible assets and liabilities from the total book value. Participants in this plan are granted units of phantom stock, the value of which is determined based on the company's tangible book value per share. As the tangible book value increases over time, so does the value of the phantom stock units, enabling employees to accumulate wealth as the company grows. Different types or variations of the Colorado Book Value Phantom Stock Plan may exist within First Florida Banks, Inc. For instance, there might be tiers or levels within the plan, offering different benefits based on an employee's position or tenure. Additionally, the plan may have vesting requirements to ensure that employees remain with the company for a certain period before fully benefiting from stock appreciation. Participants of the Colorado Book Value Phantom Stock Plan of First Florida Banks, Inc. can track their phantom stock units, their current value, and potential growth through a designated platform or system. This transparency enables employees to understand their financial stake in the company and encourages them to actively contribute to its success. In conclusion, the Colorado Book Value Phantom Stock Plan is an innovative compensation program offered exclusively to employees in the state of Colorado at First Florida Banks, Inc. It allows participants to accumulate wealth by granting them phantom stock units linked to the company's tangible book value per share. Through this plan, employees gain a sense of ownership, align their interests with the company's growth, and are rewarded for their dedication and contribution.