Delaware Book Value Phantom Stock Plan of First Florida Banks, Inc.

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

Description

20-162A 20-162A . . . Book Value Phantom Stock Plan under which Committee of Board of Directors may, from time to time, grant quantity of phantom shares to selected employees, each share being equivalent to one share of corporation common stock. Phantom shares may be exercised at any time within ten years of date of grant (subject to certain limitations in event of termination of employment) Upon exercise, employee is paid cash equal to increase in underlying net book value per share on fully diluted basis of shares between date of grant and date of exercise The Delaware Book Value Phantom Stock Plan is a unique employee compensation plan offered by First Florida Banks, Inc. This plan is designed to incentivize and reward employees based on the book value of the company's stock. By utilizing this plan, First Florida Banks aims to align employee interests with shareholder value. Now, let's dive deeper into the details of what this plan entails and its potential benefits. The Delaware Book Value Phantom Stock Plan is structured in such a way that it mimics actual stock ownership without actually issuing real shares to employees. Instead, employees are granted phantom stock units that mirror the book value of the company's stock. The value of these units is tied directly to the performance and growth of the company. Employees who participate in this plan become eligible for the accumulation of phantom stock units over a predetermined period. The number of units allocated to an employee is usually determined based on various factors such as position, tenure, and individual performance. These units steadily grow in value parallel to the book value of the company's stock. One key advantage of this plan is that employees have the potential to earn significant rewards if the company's book value increases over time. This helps to foster a sense of ownership and motivates employees to perform at their best, ultimately benefiting both the individual and the company as a whole. Additionally, the Delaware Book Value Phantom Stock Plan can provide employees with a sense of long-term financial security. As the plan is designed to reward employees based on the book value of the company's stock, it encourages them to stay committed to the organization, fostering employee loyalty and reducing turnover. It's worth noting that there might be variations of the Delaware Book Value Phantom Stock Plan offered by First Florida Banks, Inc. Different variations may exist to accommodate employees at different levels within the organization or align with specific business objectives. Examples of potential variations could include Executive Delaware Book Value Phantom Stock Plan, Management Delaware Book Value Phantom Stock Plan, or Employee Delaware Book Value Phantom Stock Plan. In conclusion, the Delaware Book Value Phantom Stock Plan is an innovative compensation plan utilized by First Florida Banks, Inc. to motivate and reward employees based on the book value of the company's stock. By linking employee compensation to the company's performance, this plan helps create a sense of ownership, incentivizes long-term commitment, and ultimately contributes to the overall success of the organization.

The Delaware Book Value Phantom Stock Plan is a unique employee compensation plan offered by First Florida Banks, Inc. This plan is designed to incentivize and reward employees based on the book value of the company's stock. By utilizing this plan, First Florida Banks aims to align employee interests with shareholder value. Now, let's dive deeper into the details of what this plan entails and its potential benefits. The Delaware Book Value Phantom Stock Plan is structured in such a way that it mimics actual stock ownership without actually issuing real shares to employees. Instead, employees are granted phantom stock units that mirror the book value of the company's stock. The value of these units is tied directly to the performance and growth of the company. Employees who participate in this plan become eligible for the accumulation of phantom stock units over a predetermined period. The number of units allocated to an employee is usually determined based on various factors such as position, tenure, and individual performance. These units steadily grow in value parallel to the book value of the company's stock. One key advantage of this plan is that employees have the potential to earn significant rewards if the company's book value increases over time. This helps to foster a sense of ownership and motivates employees to perform at their best, ultimately benefiting both the individual and the company as a whole. Additionally, the Delaware Book Value Phantom Stock Plan can provide employees with a sense of long-term financial security. As the plan is designed to reward employees based on the book value of the company's stock, it encourages them to stay committed to the organization, fostering employee loyalty and reducing turnover. It's worth noting that there might be variations of the Delaware Book Value Phantom Stock Plan offered by First Florida Banks, Inc. Different variations may exist to accommodate employees at different levels within the organization or align with specific business objectives. Examples of potential variations could include Executive Delaware Book Value Phantom Stock Plan, Management Delaware Book Value Phantom Stock Plan, or Employee Delaware Book Value Phantom Stock Plan. In conclusion, the Delaware Book Value Phantom Stock Plan is an innovative compensation plan utilized by First Florida Banks, Inc. to motivate and reward employees based on the book value of the company's stock. By linking employee compensation to the company's performance, this plan helps create a sense of ownership, incentivizes long-term commitment, and ultimately contributes to the overall success of the organization.