District of Columbia Restricted Stock Award Plan of Coca-Cola Enterprises, Inc.

• Category: Corporations - Public - Incentive Compensation Plans
• State: Multi-State
• Control #: US-CC-20-163H
• Format: Word; Rich Text

Description

20-163H 20-163H . . . Restricted Stock Award Plan under which committee of Board of Directors can (a) grant restricted stock to officers and key employees of corporation and (b) reimburse such persons for amounts payable by them as consequence of any such award

The District of Columbia Restricted Stock Award Plan of Coca-Cola Enterprises, Inc. is a comprehensive program designed to incentivize and reward employees of the company based in the District of Columbia. This article will provide a detailed description of the plan, including its purpose, eligibility criteria, and key features. The District of Columbia Restricted Stock Award Plan is established by Coca-Cola Enterprises, Inc. to grant eligible employees a form of equity compensation known as restricted stock. Under this plan, selected employees receive shares of the company's stock, subject to certain restrictions and conditions. The purpose of the District of Columbia Restricted Stock Award Plan is twofold: to align the interests of employees with those of the shareholders and to provide a long-term incentive for employees to contribute to the company's success. By granting restricted stock, Coca-Cola Enterprises, Inc. seeks to motivate and retain high-performing employees, encouraging them to focus on the company's growth and profitability. Eligibility for participation in the plan may vary depending on specific criteria outlined by Coca-Cola Enterprises, Inc. However, typically, employees of the company based in the District of Columbia who meet certain service and performance requirements are eligible to receive restricted stock awards. These awards are granted at the discretion of the company and may be based on various factors, such as an employee's position, contributions to the company's success, and future potential. The District of Columbia Restricted Stock Award Plan operates under a set of rules and restrictions. Upon receiving the restricted stock, employees become the owners of the shares, but they are prohibited from transferring or selling them until specific vesting conditions are met. Vesting periods typically range from one to several years, during which employees must remain employed by Coca-Cola Enterprises, Inc. With the completion of the vesting requirements, the restrictions on the stock are lifted, and employees gain full ownership rights. Coca-Cola Enterprises, Inc. generally offers two main types of restricted stock awards under the District of Columbia Restricted Stock Award Plan: time-based vesting and performance-based vesting. In the time-based vesting approach, employees receive a specific number of shares that vest over a set period, rewarding them for staying with the company. Meanwhile, the performance-based vesting option requires employees to achieve certain performance targets to earn the restricted stock. This type of award incentivizes employees to contribute to the company's growth and financial success. Overall, the District of Columbia Restricted Stock Award Plan by Coca-Cola Enterprises, Inc. is a valuable employee benefit, designed to align the interests of employees with those of shareholders and encourage long-term commitment to the company's goals. Through the grant of restricted stock awards, Coca-Cola Enterprises, Inc. aims to motivate and retain talented individuals within its workforce, fostering a culture of high performance and dedication in the District of Columbia.