Georgia Restricted Stock Plan of Sundstrand Corp.

• Category: Corporations - Public - Incentive Compensation Plans
• State: Multi-State
• Control #: US-CC-20-171D
• Format: Word; Rich Text

Description

20-171D 20-171D . . . Restricted Stock Plan under which a committee of Board of Directors sells shares of common stock to certain officers and senior employees at a price substantially below current market price. The shares are subject to following restrictions: (a) prohibition against any sale or other transfer and (b) obligation that participant (at corporation's option) must resell shares to corporation at price he paid for them if he ceases to be employed by corporation prior to expiration of from five to nine years after shares were sold to him, for reasons other than normal retirement, death, total disability or early retirement with consent of Board or committee. Except as otherwise provided, restrictions lapse as to 1/5 of aggregate number of participant's shares at expiration or each of fifth through ninth years after his purchase of such shares Georgia Restricted Stock Plan of Bandstand Corp is a comprehensive program designed to provide certain key employees of the company with an opportunity to acquire ownership interest in the company through the issuance of restricted stock units (RSS). RSS is a type of company equity and represent a promise to deliver shares of the company's stock at a future date, subject to certain conditions. Under Georgia Restricted Stock Plan, employees are granted RSS as an incentive for their contributions to the company's growth and success. These grants are typically subject to a vesting schedule, which means that employees must fulfill specific criteria, such as remaining employed with the company for a certain period or achieving pre-established performance targets, in order to become fully vested in the RSS. Once the RSS vest, employees are entitled to receive shares of the company's stock, either in physical form or in cash equivalent. The number of shares awarded to employees is typically determined based on a formula specified in the plan, such as a percentage of the employee's annual salary or a discretionary determination made by the company's board of directors or compensation committee. The Georgia Restricted Stock Plan of Bandstand Corp serves multiple purposes. Firstly, it aligns the interests of key employees with those of the company's shareholders, as employees will benefit from any increase in the company's stock price. Secondly, it incentivizes employees to remain with the company for a longer time, as they need to fulfill the vesting requirements to receive the full benefit of their RSS. This promotes employee retention, which is crucial for the company's long-term success. It's worth noting that there may be different types of Georgia Restricted Stock Plans under Bandstand Corp. For instance, they could have plans specifically tailored for different levels of employees, such as executive-level RSU plans, manager-level RSU plans, or employee-wide RSU plans. Each plan may have its own specific eligibility criteria, vesting schedules, and formula for determining the number of RSS granted to employees. In summary, the Georgia Restricted Stock Plan of Bandstand Corp offers an effective tool for attracting, retaining, and rewarding key employees by granting them RSS. This RSS provides employees with the opportunity to acquire a stake in the company's success and further align their interests with those of the shareholders.

Georgia Restricted Stock Plan of Bandstand Corp is a comprehensive program designed to provide certain key employees of the company with an opportunity to acquire ownership interest in the company through the issuance of restricted stock units (RSS). RSS is a type of company equity and represent a promise to deliver shares of the company's stock at a future date, subject to certain conditions. Under Georgia Restricted Stock Plan, employees are granted RSS as an incentive for their contributions to the company's growth and success. These grants are typically subject to a vesting schedule, which means that employees must fulfill specific criteria, such as remaining employed with the company for a certain period or achieving pre-established performance targets, in order to become fully vested in the RSS. Once the RSS vest, employees are entitled to receive shares of the company's stock, either in physical form or in cash equivalent. The number of shares awarded to employees is typically determined based on a formula specified in the plan, such as a percentage of the employee's annual salary or a discretionary determination made by the company's board of directors or compensation committee. The Georgia Restricted Stock Plan of Bandstand Corp serves multiple purposes. Firstly, it aligns the interests of key employees with those of the company's shareholders, as employees will benefit from any increase in the company's stock price. Secondly, it incentivizes employees to remain with the company for a longer time, as they need to fulfill the vesting requirements to receive the full benefit of their RSS. This promotes employee retention, which is crucial for the company's long-term success. It's worth noting that there may be different types of Georgia Restricted Stock Plans under Bandstand Corp. For instance, they could have plans specifically tailored for different levels of employees, such as executive-level RSU plans, manager-level RSU plans, or employee-wide RSU plans. Each plan may have its own specific eligibility criteria, vesting schedules, and formula for determining the number of RSS granted to employees. In summary, the Georgia Restricted Stock Plan of Bandstand Corp offers an effective tool for attracting, retaining, and rewarding key employees by granting them RSS. This RSS provides employees with the opportunity to acquire a stake in the company's success and further align their interests with those of the shareholders.