The Guam Stock Appreciation Right Plan (Guam SAR Plan) of Helene Curtis Industries, Inc. is a comprehensive employee incentive program designed to reward and motivate employees through the granting of stock appreciation rights. This plan provides employees with the opportunity to receive monetary benefits based on the appreciation of the company's stock value over a specified period. Under the Guam SAR Plan, eligible employees are granted stock appreciation rights, giving them the right to receive a specific amount of cash or stock, equivalent to the increase in the value of a set number of company shares during the performance period. The program aims to align employee interests with that of the company's shareholders, promoting a sense of ownership and increased dedication to achieving the company's goals. Helene Curtis Industries, Inc. offers two main types of Guam SAR Plans to its employees: 1. Performance-Based SAR Plan: In this type of plan, the stock appreciation rights are granted based on the achievement of pre-determined performance goals and targets. These goals may include financial metrics such as revenue growth, earnings per share, or market share expansion. By linking the plan to performance, Helene Curtis Industries, Inc. aims to drive employee performance and enhance shareholder value. 2. Time-Based SAR Plan: Unlike the performance-based plan, the time-based SAR Plan grants stock appreciation rights to employees based on their length of service with the company. The longer an employee remains with the company, the greater their eligibility for stock appreciation rights. This plan serves as a mechanism to reward loyalty and long-term commitment to the organization. The Guam SAR Plan of Helene Curtis Industries, Inc. represents a significant employee benefit, fostering a sense of ownership, loyalty, and motivation among its employees. By providing opportunities for financial growth through stock appreciation, the company encourages its workforce to actively contribute towards the company's success, leading to a win-win situation for both employees and shareholders.
Guam Stock Appreciation Right Plan of Helene Curtis Industries, Inc.
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The rights are valued once, divided evenly over the vesting period and marked as rights paid in capital. For example, a company that issues $5,000 in rights with a five-year vesting period would debit compensation expense for $1,000 and credit rights paid in capital for $1,000 once a year for five years.
SARs may be settled in cash or shares. However, it is more common for SARs to be settled in cash. A SAR is similar to a stock option except that the recipient is not required to pay an exercise price to exercise the SAR.
In accounting, the process that the company uses to record SAR agreements is to accrue a liability and recognize expense over the term of service. At the end of the service period, the liability is settled in cash or stock (or both).
SARs are taxed the same way as non-qualified stock options (NSOs). There are no tax consequences of any kind on either the grant date or when they are vested. However, participants must recognize ordinary income on the spread at the time of exercise. 2 Most employers will also withhold supplemental federal income tax.
In February 1996, Helene Curtis agreed to be acquired by Unilever for about $770 million. In contract law, the company is known for the 1963 case Helene Curtis Industries, Inc. v.
The company continued to grow, manufacturing products as varied as deodorant to skin creams, until 1996 when Helene Curtis was acquired by Unilever for $770 million.
Helene Curtis, which was controlled by the Gidwitz family until it was sold to Unilever for $910 million in 1996, has been manufacturing at the 92-year-old facility since the late 1940s, ing to a Unilever spokesman.