20-174D 20-174D . . . Restricted Stock Incentive Plan under which Compensation Committee selects participants, determines number of shares of common stock covered by each grant, establishes appropriate performance measures, and chooses appropriate corporation peer group. The number of shares granted is equal to a percentage of participant's base salary for first calendar year of each three-year program. The base salary percentage target of first three-year grants range from 10% to 35%; maximum base salary grant permitted by Plan may not exceed 70% of participant's base salary. After end of a Performance Period, Committee determines adjustments, if any, that are required to be made to share grants for Performance Period based on actual results under Performance Measures (performance of corporation versus its peer group) for such Performance Period. After adjustments, restrictions on shares held by participant are lifted as to 1/3 on July 1 immediately following Performance Period and additional 1/3 increments on the first and second anniversaries of such July 1, provided participant is still employed by corporation on such date. If participant ceases to be employed by corporation before restrictions lapse on shares held by him or her, shares still subject to restrictions are immediately forfeited
Delaware Long Term Performance and Restricted Stock Incentive Plan of Ipalco Enterprises, Inc.
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How to fill out Long Term Performance And Restricted Stock Incentive Plan Of Ipalco Enterprises, Inc.?
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FAQ
Restricted stock refers to unregistered shares of ownership in a corporation that are issued to corporate affiliates, such as executives and directors. Restricted stock is non-transferable and must be traded in compliance with special Securities and Exchange Commission (SEC) regulations.
term incentive plan (LTIP) is a company policy that rewards employees for reaching specific goals that lead to increased shareholder value. In a typical LTIP, the employee, usually an executive, must fulfill various conditions or requirements.
Once vested, restricted shares are assigned a fair market value. Restricted shares may also be restricted by a double-trigger provision. That means that an employee's shares become unrestricted if the company is acquired by another and the employee is fired in the restructuring that follows.
This Plan permits the grant of Nonqualified Stock Options, Incentive Stock Options, Stock Appreciation Rights, Restricted Stock, Restricted Stock Units, Performance Shares, Performance Units, Cash-Based Awards and Other Stock-Based Awards.
Can you sell Restricted Stock Units? Restricted Stock Units cannot be sold or transferred while they are subject to forfeiture. This means that the employee cannot sell or transfer the units until they are vested.
Once you have shares in an RSU that vest (becomes yours), the company can no longer take them back, and you must pay ordinary income taxes on the fair market value of the shares at the time they vest. This is the case even if you do not sell the shares of the stock that you now own.
After you vest your RSUs, you own the stock and can keep it or sell it. Even if you leave your company, you still own the stock. For example, let's say you are granted 10,000 RSUs when you start working at your company, with the vesting schedule just described.
You can sell your restricted stock after the vesting period is over. However, you cannot sell restricted stock units within the vesting period. How long do you have to hold restricted stock? You need to hold restricted stock until the end of the vesting period.