Delaware Restricted Stock Plan of RPM, Inc.

• Category: Corporations - Public - Stock Options
• State: Multi-State
• Control #: US-CC-18-200A
• Format: Word; Rich Text

Description

18-200A 18-200A . . . Restricted Stock Plan under which (a) Compensation Committee determines those employees of corporation and subsidiaries who are eligible to receive awards of Restricted Shares, (b) Restricted Shares are forfeitable and nontransferable for specified period of time, (c) transfer restrictions remain in place until earliest of (i) later of either employee's termination of employment or lapse of forfeiture restrictions, (ii) change in control with respect to corporation, or (iii) termination of Plan. Restricted Shares are subject to compete forfeiture until earliest to occur of (i) later of either employee's attainment of age 55 or fifth anniversary of May 31st immediately preceding date on which Restricted Shares were awarded, (ii) retirement of employee on or after attainment of age 65, or (iii) change in control with respect to corporation The Delaware Restricted Stock Plan of RPM, Inc. is an employee benefit program that offers selected employees of RPM, Inc. the opportunity to obtain company stock under specific conditions and restrictions. This plan aims to incentivize and reward employees for their dedication and contribution to the company's growth and success. By providing employees with stock ownership, the plan aligns their interests with those of RPM, Inc. and promotes a sense of ownership and commitment. Under the Delaware Restricted Stock Plan, eligible employees are granted restricted stock units (RSS), which represent a right to receive shares of RPM, Inc. stock at a predetermined future date. This RSS typically vest over a certain period, encouraging employees to stay with the company in order to unlock the full benefits of their stock grants. The plan sets various requirements and restrictions on the RSS. Employees may need to meet specific performance goals, complete a certain number of years of service, or fulfill other predetermined conditions in order to receive the granted shares. This ensures that only employees who meet the designated criteria can benefit from the stock plan. Delaware law governs the RPM, Inc. Restricted Stock Plan, precisely because RPM, Inc. is incorporated in the state of Delaware. The plan complies with the regulations set out by the Delaware General Corporation Law, ensuring a legally compliant and transparent framework for the stock program. The Delaware Restricted Stock Plan of RPM, Inc. can be further classified into different types based on eligibility criteria and vesting schedules. Some possible types of plans include: 1. Standard Vesting Plan: This type of plan could grant RSS to employees that vest over a certain number of years of continuous service with RPM, Inc. For example, an employee might receive 1,000 RSS that vest equally over a four-year period, with a 25% vesting each year. 2. Performance-Based Plan: In this variation of the Delaware Restricted Stock Plan, employees must meet specific performance objectives or targets to qualify for the RSU grants. The performance metrics could be tied to individual, team, or company-wide goals and can ensure that the stock ownership aligns directly with RPM, Inc.'s strategic objectives. 3. Promotional/Retention Plan: This type of plan might be designed to reward employees for taking on higher-level roles or to encourage them to remain with RPM, Inc. for a certain period. For example, an employee who is being promoted to a managerial position might receive a grant of RSS that vest over a three-year period, incentivizing them to excel in their new role. In summary, the Delaware Restricted Stock Plan of RPM, Inc. is an employee incentive program offering RSS to eligible employees based on specific conditions. It serves to align employees' interests with the company's goals, promote tenure, performance, and employee retention. The plan complies with Delaware law and may take different forms based on various eligibility criteria and vesting schedules.

The Delaware Restricted Stock Plan of RPM, Inc. is an employee benefit program that offers selected employees of RPM, Inc. the opportunity to obtain company stock under specific conditions and restrictions. This plan aims to incentivize and reward employees for their dedication and contribution to the company's growth and success. By providing employees with stock ownership, the plan aligns their interests with those of RPM, Inc. and promotes a sense of ownership and commitment. Under the Delaware Restricted Stock Plan, eligible employees are granted restricted stock units (RSS), which represent a right to receive shares of RPM, Inc. stock at a predetermined future date. This RSS typically vest over a certain period, encouraging employees to stay with the company in order to unlock the full benefits of their stock grants. The plan sets various requirements and restrictions on the RSS. Employees may need to meet specific performance goals, complete a certain number of years of service, or fulfill other predetermined conditions in order to receive the granted shares. This ensures that only employees who meet the designated criteria can benefit from the stock plan. Delaware law governs the RPM, Inc. Restricted Stock Plan, precisely because RPM, Inc. is incorporated in the state of Delaware. The plan complies with the regulations set out by the Delaware General Corporation Law, ensuring a legally compliant and transparent framework for the stock program. The Delaware Restricted Stock Plan of RPM, Inc. can be further classified into different types based on eligibility criteria and vesting schedules. Some possible types of plans include: 1. Standard Vesting Plan: This type of plan could grant RSS to employees that vest over a certain number of years of continuous service with RPM, Inc. For example, an employee might receive 1,000 RSS that vest equally over a four-year period, with a 25% vesting each year. 2. Performance-Based Plan: In this variation of the Delaware Restricted Stock Plan, employees must meet specific performance objectives or targets to qualify for the RSU grants. The performance metrics could be tied to individual, team, or company-wide goals and can ensure that the stock ownership aligns directly with RPM, Inc.'s strategic objectives. 3. Promotional/Retention Plan: This type of plan might be designed to reward employees for taking on higher-level roles or to encourage them to remain with RPM, Inc. for a certain period. For example, an employee who is being promoted to a managerial position might receive a grant of RSS that vest over a three-year period, incentivizing them to excel in their new role. In summary, the Delaware Restricted Stock Plan of RPM, Inc. is an employee incentive program offering RSS to eligible employees based on specific conditions. It serves to align employees' interests with the company's goals, promote tenure, performance, and employee retention. The plan complies with Delaware law and may take different forms based on various eligibility criteria and vesting schedules.