Florida Officer Long Term Incentive Compensation Plan for Southern California Edison Co.

• Category: Corporations - Public - Incentive Compensation Plans
• State: Multi-State
• Control #: US-CC-18-266C
• Format: Word; Rich Text

Description

18-266C 18-266C . . . Officer Long Term Incentive Compensation Plan under which compensation committee can grant (i) stock appreciation equivalents (hypothetical stock "units" which are granted to participant and upon which value of any incentive award is calculated), (ii) dividend equivalents (which represent value of dividends per share paid by corporation, calculated upon stock or stock units held by participant and which, if objectives set by committee are met, are paid to participant), (iii) Non-qualified Stock Options, (iv) incentive stock options, (v) restricted stock, (vi) stock appreciation rights, and (vii) performance awards The Florida Officer Long Term Incentive Compensation Plan (OLT ICP) offered by Southern California Edison Co. (SHE) is a comprehensive rewards program designed to attract, retain, and incentivize talented executives in the state of Florida. This long-term compensation plan aims to align the interests of the officers with those of the company, its shareholders, and customers, thereby driving sustained growth and success. The OLT ICP is specifically tailored to meet the unique needs and dynamics of the Florida market. It takes into account various factors such as local economic conditions, competition, regulatory environment, and market trends. By providing a range of attractive incentives, SHE ensures that its officers are motivated to deliver exceptional performance, make strategic decisions, and contribute to the company's overall objectives. Key features of the Florida Officer Long Term Incentive Compensation Plan may include: 1. Performance-Based Equity Awards: SHE grants performance-based equity awards to eligible officers in Florida. These awards are tied to specific financial and operational targets, such as earnings per share, return on equity, customer satisfaction, and reliability. As officers achieve these targets, they become eligible to receive equity compensation in the form of stock options, restricted stock units, or performance shares. 2. Cash Incentive Bonuses: In addition to equity awards, the OLT ICP may provide cash bonuses to Florida officers based on their individual and company performance. The bonuses are determined by a comprehensive evaluation of various metrics, such as revenue growth, cost management, safety performance, and customer engagement. By rewarding exceptional performance, SHE aims to motivate officers to excel in their roles and drive overall company success. 3. Deferred Compensation: The plan may also offer deferred compensation options to Florida officers. This feature allows eligible executives to set aside a portion of their salary or bonus to be paid out in the future, typically upon retirement or a predetermined event. Deferred compensation provides officers with financial security beyond their active employment and encourages long-term commitment to the company's goals. 4. Performance Periods and Vesting: The OLT ICP typically operates on a multi-year performance cycle, often spanning three to five years. During this period, officers work towards achieving specific performance goals and objectives aligned with SHE's strategic initiatives. Vesting of equity awards and cash incentives is typically tied to the successful completion of the performance period, ensuring that long-term value creation is prioritized. 5. Additional Benefits and Perquisites: Florida officers participating in the OLT ICP may also be eligible for various additional benefits and perquisites. These can include executive retirement plans, health and wellness benefits, access to financial planning and advisory services, and executive perks like club memberships, travel allowances, and professional development opportunities. It is important to note that specific details of the Florida Officer Long Term Incentive Compensation Plan may vary over time, as they are subject to internal and external factors, industry standards, legal requirements, and evolving market conditions. Florida officers at SHE should refer to the official plan document and consult with their HR representatives to obtain the most up-to-date and accurate information regarding the plan's structure, eligibility criteria, and benefits.

The Florida Officer Long Term Incentive Compensation Plan (OLT ICP) offered by Southern California Edison Co. (SHE) is a comprehensive rewards program designed to attract, retain, and incentivize talented executives in the state of Florida. This long-term compensation plan aims to align the interests of the officers with those of the company, its shareholders, and customers, thereby driving sustained growth and success. The OLT ICP is specifically tailored to meet the unique needs and dynamics of the Florida market. It takes into account various factors such as local economic conditions, competition, regulatory environment, and market trends. By providing a range of attractive incentives, SHE ensures that its officers are motivated to deliver exceptional performance, make strategic decisions, and contribute to the company's overall objectives. Key features of the Florida Officer Long Term Incentive Compensation Plan may include: 1. Performance-Based Equity Awards: SHE grants performance-based equity awards to eligible officers in Florida. These awards are tied to specific financial and operational targets, such as earnings per share, return on equity, customer satisfaction, and reliability. As officers achieve these targets, they become eligible to receive equity compensation in the form of stock options, restricted stock units, or performance shares. 2. Cash Incentive Bonuses: In addition to equity awards, the OLT ICP may provide cash bonuses to Florida officers based on their individual and company performance. The bonuses are determined by a comprehensive evaluation of various metrics, such as revenue growth, cost management, safety performance, and customer engagement. By rewarding exceptional performance, SHE aims to motivate officers to excel in their roles and drive overall company success. 3. Deferred Compensation: The plan may also offer deferred compensation options to Florida officers. This feature allows eligible executives to set aside a portion of their salary or bonus to be paid out in the future, typically upon retirement or a predetermined event. Deferred compensation provides officers with financial security beyond their active employment and encourages long-term commitment to the company's goals. 4. Performance Periods and Vesting: The OLT ICP typically operates on a multi-year performance cycle, often spanning three to five years. During this period, officers work towards achieving specific performance goals and objectives aligned with SHE's strategic initiatives. Vesting of equity awards and cash incentives is typically tied to the successful completion of the performance period, ensuring that long-term value creation is prioritized. 5. Additional Benefits and Perquisites: Florida officers participating in the OLT ICP may also be eligible for various additional benefits and perquisites. These can include executive retirement plans, health and wellness benefits, access to financial planning and advisory services, and executive perks like club memberships, travel allowances, and professional development opportunities. It is important to note that specific details of the Florida Officer Long Term Incentive Compensation Plan may vary over time, as they are subject to internal and external factors, industry standards, legal requirements, and evolving market conditions. Florida officers at SHE should refer to the official plan document and consult with their HR representatives to obtain the most up-to-date and accurate information regarding the plan's structure, eligibility criteria, and benefits.