Colorado Phantom Stock Plan is a compensation program offered by Hercules, Inc. that aims to provide Colorado-based employees with benefits similar to those of owning actual company stock. This plan, which is designed exclusively for residents of Colorado, offers various types of benefits and incentives to eligible employees. One type of the Colorado Phantom Stock Plan is the Standard Phantom Stock Plan. Under this plan, eligible employees are granted the opportunity to receive a cash payment in the future, based on the appreciation of Hercules, Inc. stock value over a specified period. The value of the cash payment is determined by a formula outlined in the plan, which takes into account factors such as company performance and stock market trends. Another type of the Colorado Phantom Stock Plan is the Performance-Based Phantom Stock Plan. This plan is similar to the Standard Phantom Stock Plan but includes additional performance criteria that employees must meet to be eligible for the cash payment. These criteria typically include achieving specific business or individual performance goals, which are set by Hercules, Inc. The Colorado Phantom Stock Plan also offers a Retirement Phantom Stock Plan to employees who are approaching retirement age. This plan provides eligible employees with the opportunity to receive a cash payment upon retirement, based on the value of Hercules, Inc. stock at the time of retirement. Furthermore, the Colorado Phantom Stock Plan includes a Vesting Schedule, which determines when and how employees become eligible to receive the cash payment. The Vesting Schedule typically requires employees to remain with Hercules, Inc. for a certain number of years before their shares are fully vested and the cash payment can be received. Overall, the Colorado Phantom Stock Plan of Hercules, Inc. is a comprehensive compensation program specifically designed for Colorado-based employees. It offers different types of plans, including the Standard, Performance-Based, and Retirement Phantom Stock Plans, with the aim of providing employees with the opportunity to benefit from the company's success, similar to owning actual company stock.
Colorado Phantom Stock Plan of Hercules, Inc.
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How to fill out Colorado Phantom Stock Plan Of Hercules, Inc.?
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Phantom shares usually get liquid when the company gets acquired or goes public or if the company decides to do a buyback. Any gains from the assets must be reported to tax authorities as ordinary income upon vesting.
Finally, if an employee resigns or you need to terminate them, their phantom stock is discontinued, which leaves you without the risk exposure and gives you the chance to provide the phantom stock incentive to a future rock star hire.
At the time of your departure, you are generally allowed to exercise the vested portion of your stock option awards, and you will forfeit the unvested portion. If you are planning on leaving your job, you should review the details of your vesting schedule.
A phantom stock plan, also called a shadow stock plan, is a type of deferred employee compensation plan where the type of shares issued to plan participants are phantom shares instead of company shares. Phantom shares provide benefits similar to stock ownership but without actually issuing company shares.
While not stock in the company, phantom stock is worth money just like real stock? its value rises and falls with the company's actual stock (or what the company is valued at, if it's not a publicly traded company). Employees are paid out profits at the end of a pre-determined length of time.
Companies usually tie earning equity to tenure (a process called vesting). In most cases, you have to stay for at least a year to vest any equity (your grant may call this a ?one-year cliff?). When you leave, you are only entitled to the portion of that equity that has vested as of the date of your departure.
What Happens When You Resign Before Vesting. Resigning before your RSUs have vested is a tough pill to swallow. Usually, you'll lose all the RSUs that have not yet vested at the time of your resignation. They'll be forfeited back to the company, and you'll walk away with nothing for those unvested units.
As a default, this form plan provides for forfeiture of all unvested phantom stock units upon a participant's termination of employment (subject to the terms of the award agreement).