Guam 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 Guam Officer Long Term Incentive Compensation Plan (LT ICP) is a comprehensive compensation program offered by Southern California Edison Co. to attract and retain top executive talent in their Guam branch. This plan is specifically designed to incentivize Guam officers to achieve long-term strategic goals while aligning their interests with those of the company and its shareholders. The Guam Officer LT ICP consists of various components aimed at motivating and rewarding executives for their superior performance. These components may include: 1. Performance-Based Cash Bonuses: Under this plan, eligible officers are eligible to receive performance-based cash bonuses tied to specific targets and objectives. These bonuses are determined by various performance metrics such as financial performance, operational efficiency, and customer satisfaction. 2. Equity Awards: To further align the interests of Guam officers with the company's long-term success, equity awards are granted as part of the compensation package. These awards may include stock options, restricted stock units, or performance shares, which vest over a specified period, subject to meeting predetermined performance measures. 3. Deferred Compensation: The LT ICP may also offer deferred compensation options, giving executives the opportunity to defer a portion of their base salary or certain bonuses. This deferred amount can be invested and earns interest until a future specified date, providing executives with additional financial flexibility and long-term savings opportunities. 4. Retention Bonuses: To ensure retention of key talent, the Guam Officer LT ICP may include retention bonuses granted at specified intervals during the executive's tenure. These bonuses are usually contingent upon the officer remaining employed with Southern California Edison Co. for a predefined duration. 5. Performance Shares: In some cases, Southern California Edison Co. may award performance shares to Guam officers. These shares are granted based on predetermined performance goals and vest over a specific period. The value of these shares ultimately depends on the company's performance against the defined metrics. It is crucial to note that the specific details, components, and design of the Guam Officer LT ICP may vary from year to year or depending on individual officer's roles and responsibilities. Each officer's LT ICP may be customized based on their performance goals, industry benchmarks, and overall business strategy to create a robust and competitive compensation package. By implementing the Guam Officer LT ICP, Southern California Edison Co. aims to attract, motivate, and retain talented executives in their Guam branch by providing a compensation structure that promotes long-term commitment, aligns interests, and rewards exceptional performance.

Guam Officer Long Term Incentive Compensation Plan (LT ICP) is a comprehensive compensation program offered by Southern California Edison Co. to attract and retain top executive talent in their Guam branch. This plan is specifically designed to incentivize Guam officers to achieve long-term strategic goals while aligning their interests with those of the company and its shareholders. The Guam Officer LT ICP consists of various components aimed at motivating and rewarding executives for their superior performance. These components may include: 1. Performance-Based Cash Bonuses: Under this plan, eligible officers are eligible to receive performance-based cash bonuses tied to specific targets and objectives. These bonuses are determined by various performance metrics such as financial performance, operational efficiency, and customer satisfaction. 2. Equity Awards: To further align the interests of Guam officers with the company's long-term success, equity awards are granted as part of the compensation package. These awards may include stock options, restricted stock units, or performance shares, which vest over a specified period, subject to meeting predetermined performance measures. 3. Deferred Compensation: The LT ICP may also offer deferred compensation options, giving executives the opportunity to defer a portion of their base salary or certain bonuses. This deferred amount can be invested and earns interest until a future specified date, providing executives with additional financial flexibility and long-term savings opportunities. 4. Retention Bonuses: To ensure retention of key talent, the Guam Officer LT ICP may include retention bonuses granted at specified intervals during the executive's tenure. These bonuses are usually contingent upon the officer remaining employed with Southern California Edison Co. for a predefined duration. 5. Performance Shares: In some cases, Southern California Edison Co. may award performance shares to Guam officers. These shares are granted based on predetermined performance goals and vest over a specific period. The value of these shares ultimately depends on the company's performance against the defined metrics. It is crucial to note that the specific details, components, and design of the Guam Officer LT ICP may vary from year to year or depending on individual officer's roles and responsibilities. Each officer's LT ICP may be customized based on their performance goals, industry benchmarks, and overall business strategy to create a robust and competitive compensation package. By implementing the Guam Officer LT ICP, Southern California Edison Co. aims to attract, motivate, and retain talented executives in their Guam branch by providing a compensation structure that promotes long-term commitment, aligns interests, and rewards exceptional performance.