18-268B 18-268B . . . Management 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
Florida Management Long Term Incentive Compensation Plan of Suncorp is a comprehensive rewards program designed to incentivize and retain top management talent within the company. This compensation plan is specifically tailored for executives operating in the state of Florida, ensuring that they are motivated to drive the company's long-term success and financial growth. The Florida Management Long Term Incentive Compensation Plan consists of several components, each strategically crafted to reward executives for their performance, shareholder value creation, and commitment to achieving set goals. It aims to align the interests of executives with those of the company and its shareholders, fostering a culture of accountability and excellence. One of the key elements of this compensation plan is the restricted stock units (RSS) award. Under this scheme, eligible executives receive a specific number of RSS that vest over a predetermined period, typically several years. This RSS represents an ownership stake in the company, with the value being tied to the performance of Suncorp's stock. This motivates executives to actively contribute to the company's long-term growth and share price appreciation. In addition to RSS, the Florida Management Long Term Incentive Compensation Plan also includes performance-based cash incentives. This component rewards executives based on the achievement of predefined performance metrics, such as revenue growth, cost management, or market share expansion. The cash incentives can be substantial and vary depending on the executive's level within the organization. To further strengthen the retention and motivational aspects of the plan, there may be a provision for long-term cash bonus awards. These awards are given to executives who remain with the company for a specified number of years, fostering loyalty and continuity within the top management team. It is important to note that there might be different variations or tiers within the Florida Management Long Term Incentive Compensation Plan, catering to executives at different levels or with distinct responsibilities. These tiers could include a Senior Executive Plan, a Director Plan, or a Regional Manager Plan. Each tier would have its own specific eligibility, performance metrics, and reward structure, tailored to the respective roles and responsibilities of executives at that level. Overall, the Florida Management Long Term Incentive Compensation Plan is a robust and strategic program that recognizes the critical role played by executives in driving the success and growth of Suncorp. It ensures that top management talent is appropriately rewarded for their contributions by aligning their interests with the long-term objectives of the company and its shareholders.
Florida Management Long Term Incentive Compensation Plan of Suncorp is a comprehensive rewards program designed to incentivize and retain top management talent within the company. This compensation plan is specifically tailored for executives operating in the state of Florida, ensuring that they are motivated to drive the company's long-term success and financial growth. The Florida Management Long Term Incentive Compensation Plan consists of several components, each strategically crafted to reward executives for their performance, shareholder value creation, and commitment to achieving set goals. It aims to align the interests of executives with those of the company and its shareholders, fostering a culture of accountability and excellence. One of the key elements of this compensation plan is the restricted stock units (RSS) award. Under this scheme, eligible executives receive a specific number of RSS that vest over a predetermined period, typically several years. This RSS represents an ownership stake in the company, with the value being tied to the performance of Suncorp's stock. This motivates executives to actively contribute to the company's long-term growth and share price appreciation. In addition to RSS, the Florida Management Long Term Incentive Compensation Plan also includes performance-based cash incentives. This component rewards executives based on the achievement of predefined performance metrics, such as revenue growth, cost management, or market share expansion. The cash incentives can be substantial and vary depending on the executive's level within the organization. To further strengthen the retention and motivational aspects of the plan, there may be a provision for long-term cash bonus awards. These awards are given to executives who remain with the company for a specified number of years, fostering loyalty and continuity within the top management team. It is important to note that there might be different variations or tiers within the Florida Management Long Term Incentive Compensation Plan, catering to executives at different levels or with distinct responsibilities. These tiers could include a Senior Executive Plan, a Director Plan, or a Regional Manager Plan. Each tier would have its own specific eligibility, performance metrics, and reward structure, tailored to the respective roles and responsibilities of executives at that level. Overall, the Florida Management Long Term Incentive Compensation Plan is a robust and strategic program that recognizes the critical role played by executives in driving the success and growth of Suncorp. It ensures that top management talent is appropriately rewarded for their contributions by aligning their interests with the long-term objectives of the company and its shareholders.