District of Columbia Long Term Incentive Program for Senior Management

• Category: Corporations - Public - Incentive Compensation Plans
• State: Multi-State
• Control #: US-CC-20-162L
• Format: Word; Rich Text

Description

20-162L 20-162L . . . Long Term Incentive Program For Senior Management under which Compensation Committee may award (a) stock appreciation rights and (b) performance share units. Performance share units entitle holder to receive cash payment equal to (i) average market price of one share of corporation common stock during December ("Measuring Month") in third calendar year following year in which award is made, plus (ii) aggregate dividends with respect to one share of corporation common stock from January 1 of year in which award is made until last day of Measuring Month. At maturity, number of units initially awarded shall be (i) multiplied by fraction that corresponds to average annual percentage increase or decrease in book value per share of corporation common stock over four year period prior to maturity, and (ii) then further adjusted based on ratio of market value of corporation common stock to its book value as compared to that of comparable electric utility companies The District of Columbia Long Term Incentive Program for Senior Management is a comprehensive rewards system designed to attract, retain, and motivate top executives within the District government. This program aims to align the long-term interests of senior management with the overall success and performance of the District. Through this program, senior management employees are eligible to receive various incentives based on their accomplishments, contributions, and longevity within their respective positions. The program is structured to provide rewards over an extended period, ensuring that senior executives are continuously motivated to perform at their best and drive positive results. Key components of the District of Columbia Long Term Incentive Program for Senior Management include performance-based bonuses, stock options, grants, and deferred compensation. These incentives serve as a means of acknowledging and rewarding senior executives for achieving pre-established performance goals, meeting or exceeding key performance indicators, and exhibiting exceptional leadership qualities. The performance-based bonuses are directly linked to the individual's ability to meet specific target objectives, such as improving the financial health of the District, enhancing operational efficiency, implementing innovative strategies, or fostering collaboration among teams. These bonuses provide a financial incentive for senior management to go above and beyond in their roles. Stock options and grants offer senior executives the opportunity to acquire or own shares in the organization, providing them with a tangible stake in the District's success. This not only aligns their interests with those of shareholders but also encourages long-term commitment and dedication to achieving sustainable growth. In addition to immediate rewards, the District of Columbia Long Term Incentive Program for Senior Management incorporates deferred compensation, allowing executives to accumulate a portion of their earnings to be paid out at a later date in the form of retirement benefits or a lump sum payment. This offers financial security and further motivates senior management to remain with the District for an extended period, providing continuity and stability to the government. While there are not specifically named types of the District of Columbia Long Term Incentive Program for Senior Management, the program is designed to be flexible, adaptable, and reflective of the unique needs and goals of the District. It may be tailored to different departments or agencies within the government to meet their specific objectives and challenges. Overall, the program aims to attract top talent, incentivize exceptional performance, and ensure a strong leadership team for the long-term success of the District of Columbia.

The District of Columbia Long Term Incentive Program for Senior Management is a comprehensive rewards system designed to attract, retain, and motivate top executives within the District government. This program aims to align the long-term interests of senior management with the overall success and performance of the District. Through this program, senior management employees are eligible to receive various incentives based on their accomplishments, contributions, and longevity within their respective positions. The program is structured to provide rewards over an extended period, ensuring that senior executives are continuously motivated to perform at their best and drive positive results. Key components of the District of Columbia Long Term Incentive Program for Senior Management include performance-based bonuses, stock options, grants, and deferred compensation. These incentives serve as a means of acknowledging and rewarding senior executives for achieving pre-established performance goals, meeting or exceeding key performance indicators, and exhibiting exceptional leadership qualities. The performance-based bonuses are directly linked to the individual's ability to meet specific target objectives, such as improving the financial health of the District, enhancing operational efficiency, implementing innovative strategies, or fostering collaboration among teams. These bonuses provide a financial incentive for senior management to go above and beyond in their roles. Stock options and grants offer senior executives the opportunity to acquire or own shares in the organization, providing them with a tangible stake in the District's success. This not only aligns their interests with those of shareholders but also encourages long-term commitment and dedication to achieving sustainable growth. In addition to immediate rewards, the District of Columbia Long Term Incentive Program for Senior Management incorporates deferred compensation, allowing executives to accumulate a portion of their earnings to be paid out at a later date in the form of retirement benefits or a lump sum payment. This offers financial security and further motivates senior management to remain with the District for an extended period, providing continuity and stability to the government. While there are not specifically named types of the District of Columbia Long Term Incentive Program for Senior Management, the program is designed to be flexible, adaptable, and reflective of the unique needs and goals of the District. It may be tailored to different departments or agencies within the government to meet their specific objectives and challenges. Overall, the program aims to attract top talent, incentivize exceptional performance, and ensure a strong leadership team for the long-term success of the District of Columbia.