Georgia Long Term Incentive Compensation Plan of A.M. Castle and Co.

• Category: Corporations - Public - Incentive Compensation Plans
• State: Multi-State
• Control #: US-CC-20-181
• Format: Word; Rich Text

Description

20-181 20-181 . . . Long Term Incentive Compensation Plan under which Human Resources Committee designates employees who will be participants in Plan and establishes Maximum Award Percentage with respect to each participant for each three year performance cycle. Each participant is entitled to a Performance Award if annual compounded total return (based upon stock appreciation and deemed reinvestment of dividends) on corporation common stock for that performance cycle equals or exceeds 1.5% plus annual compounded total return on common stock of Standard & Poor's 500 Industrials for such period. A participant's Performance Award for a performance cycle is amount equal to product of (a) participant's base salary multiplied by (b) his Maximum Award Percentage multiplied by (c) applicable Attainment Percentage for that performance cycle The Georgia Long Term Incentive Compensation Plan of A.M. Castle and Co. is a comprehensive program designed to attract, retain, and motivate top talent within the organization. This plan offers various types of incentives and rewards to eligible employees based in Georgia, encouraging their long-term commitment and contribution to the company's success. One type of long-term incentive compensation plan under Georgia's program is the stock option plan. Through this plan, employees are granted the opportunity to purchase company stock at a predetermined price, known as the exercise price. This allows employees to share in the company's growth and success, as the value of the stock may increase over time. It aligns the interests of employees with the shareholders and encourages them to work towards increasing the company's value. Another type of incentive compensation plan is the restricted stock units (RSS) plan. Under this plan, employees are granted a specified number of shares of company stock, subject to certain restrictions and vesting periods. RSS incentivize employees to stay with the company over the long term, as they must fulfill specific conditions, such as completing a predetermined number of service years, to be able to fully claim their shares. This encourages employee loyalty and commitment towards achieving company performance goals. Performance-based cash bonuses are also a part of the Georgia Long Term Incentive Compensation Plan. These bonuses are awarded based on predetermined performance targets, which could include financial metrics, customer satisfaction goals, and other strategic objectives. Employees who exceed the set targets are rewarded with a cash bonus, providing them with additional motivation to go above and beyond their regular job responsibilities. Furthermore, the Georgia Long Term Incentive Compensation Plan may include other types of incentives like profit-sharing plans, employee stock purchase plans (ESPN), and employee recognition programs. Profit-sharing plans distribute a portion of the company's profits among eligible employees, providing them with a direct stake in the organization's financial success. ESPN allow employees to purchase company stock at a discounted price, further promoting employee ownership and alignment with shareholder interests. Employee recognition programs acknowledge outstanding performance or achievements, fostering a positive work environment and boosting employee morale. In summary, the Georgia Long Term Incentive Compensation Plan of A.M. Castle and Co. offers various incentivization avenues like stock option plans, restricted stock units, performance-based cash bonuses, profit-sharing plans, ESPN, and employee recognition programs. These programs aim to attract, retain, and motivate employees in Georgia, creating a culture of ownership, engagement, and dedication while contributing to the long-term growth and success of the company.

The Georgia Long Term Incentive Compensation Plan of A.M. Castle and Co. is a comprehensive program designed to attract, retain, and motivate top talent within the organization. This plan offers various types of incentives and rewards to eligible employees based in Georgia, encouraging their long-term commitment and contribution to the company's success. One type of long-term incentive compensation plan under Georgia's program is the stock option plan. Through this plan, employees are granted the opportunity to purchase company stock at a predetermined price, known as the exercise price. This allows employees to share in the company's growth and success, as the value of the stock may increase over time. It aligns the interests of employees with the shareholders and encourages them to work towards increasing the company's value. Another type of incentive compensation plan is the restricted stock units (RSS) plan. Under this plan, employees are granted a specified number of shares of company stock, subject to certain restrictions and vesting periods. RSS incentivize employees to stay with the company over the long term, as they must fulfill specific conditions, such as completing a predetermined number of service years, to be able to fully claim their shares. This encourages employee loyalty and commitment towards achieving company performance goals. Performance-based cash bonuses are also a part of the Georgia Long Term Incentive Compensation Plan. These bonuses are awarded based on predetermined performance targets, which could include financial metrics, customer satisfaction goals, and other strategic objectives. Employees who exceed the set targets are rewarded with a cash bonus, providing them with additional motivation to go above and beyond their regular job responsibilities. Furthermore, the Georgia Long Term Incentive Compensation Plan may include other types of incentives like profit-sharing plans, employee stock purchase plans (ESPN), and employee recognition programs. Profit-sharing plans distribute a portion of the company's profits among eligible employees, providing them with a direct stake in the organization's financial success. ESPN allow employees to purchase company stock at a discounted price, further promoting employee ownership and alignment with shareholder interests. Employee recognition programs acknowledge outstanding performance or achievements, fostering a positive work environment and boosting employee morale. In summary, the Georgia Long Term Incentive Compensation Plan of A.M. Castle and Co. offers various incentivization avenues like stock option plans, restricted stock units, performance-based cash bonuses, profit-sharing plans, ESPN, and employee recognition programs. These programs aim to attract, retain, and motivate employees in Georgia, creating a culture of ownership, engagement, and dedication while contributing to the long-term growth and success of the company.