Connecticut Stock Option and Long Term Incentive Plan of Golf Technology Holding, Inc.
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FAQ
An LTIP works by rewarding employees (usually senior employees) with cash or shares of company stock for meeting specific goals. The goals are usually long-term, running for 3-5 years to stimulate ongoing progress rather than a-few-months objectives.
An example of a long-term incentive could be a cash plan, equity plan or share plan.
Stock options are another type of LTIP. After a set length of employment, workers may be able to purchase company stock at a discount while the employer pays the balance. The worker's seniority in the organization increases with the percentage of shares owned.
Through LTIPs, a new long-term incentive can be granted to an employee every year, rather than a one-time incentive, similar to a holiday bonus.
LTI are typically granted with what is known as a vesting period. What this means is that grantees are conditionally granted equity, but they do not actually own it until the vesting period expires.
For employees, LTI can be a reward for outstanding performance and are a vehicle for capital accumulation. For shareholders, LTI are a vehicle that aligns employees with the performance of shares (for market-based equity vehicles) and the long-term vision of the company.
LTIPs are often used to describe employee share plans in listed companies with the following characteristics: Shares will be delivered following the end of a performance period. Shares will only be delivered if stretching performance criteria are met.
term incentive plan (LTIP) incentivizes employees to take actions that will maximize shareholder value and promote longterm growth for the organization. In a standard LTIP, the employee, who is normally a senior executive, is required to meet a number of criteria to receive the incentive.