Guam Restricted Stock Plan of Guilford Mills, Inc.

• Category: Corporations - Public - Incentive Compensation Plans
• State: Multi-State
• Control #: US-CC-20-170A
• Format: Word; Rich Text

Description

20-170A 20-170A . . . Restricted Stock Plan under which Compensation Committee grants awards of shares of common stock in accordance with terms and conditions set forth in agreement between corporation and participant. Each Stock Agreement contains such individual and corporate performance goals, restrictions, terms and conditions as Compensation Committee may require including price, if any, which participant shall be required to pay for shares Guam Restricted Stock Plan of Guilford Mills, Inc. is an employee benefit program offered by Guilford Mills, Inc., a renowned textile manufacturing company located in Guam. This plan allows eligible employees of Guilford Mills, Inc. to acquire and hold company stocks, subject to certain restrictions and conditions. Under the Guam Restricted Stock Plan, employees are granted restricted stock units (RSS) as a form of compensation. RSS are essentially a promise to deliver company stock at a predetermined future date, subject to vesting requirements. The RSS granted to employees under the Guam Restricted Stock Plan may have different types based on the terms and conditions associated with them. These types may include: 1. Performance-Based RSS: This RSS is granted to employees based on predetermined performance criteria, such as achieving certain financial goals or meeting specific milestones. The number of RSS that vest is contingent upon the achievement of these performance targets. 2. Time-Based RSS: These RSS vest over a certain period of time. Once vested, employees become the shareholders of the company and can sell or retain the stocks as they deem fit. 3. Restricted Stock Awards: This RSS has additional restrictions imposed on them. The restrictions may include a waiting period, employee tenure requirements, or meeting specific performance goals. Once the restrictions are lifted, the RSS are converted into actual company stocks. Employees who participate in the Guam Restricted Stock Plan are provided with an opportunity to share in the company's success by becoming partial owners. It serves as a motivational tool for employees, aligning their interests with the company's performance and fostering a sense of ownership. By offering the Guam Restricted Stock Plan, Guilford Mills, Inc. aims to attract, reward, and retain talented employees, encouraging them to contribute to the company's long-term growth and success. The plan serves as a valuable employee benefit, providing an avenue for employees to develop financial wealth through stock ownership. In summary, the Guam Restricted Stock Plan is a comprehensive employee benefit program offered by Guilford Mills, Inc., granting eligible employees restricted stock units based on various criteria. It is designed to incentivize employees, promote loyalty, and enable them to share in the company's prosperity.

Guam Restricted Stock Plan of Guilford Mills, Inc. is an employee benefit program offered by Guilford Mills, Inc., a renowned textile manufacturing company located in Guam. This plan allows eligible employees of Guilford Mills, Inc. to acquire and hold company stocks, subject to certain restrictions and conditions. Under the Guam Restricted Stock Plan, employees are granted restricted stock units (RSS) as a form of compensation. RSS are essentially a promise to deliver company stock at a predetermined future date, subject to vesting requirements. The RSS granted to employees under the Guam Restricted Stock Plan may have different types based on the terms and conditions associated with them. These types may include: 1. Performance-Based RSS: This RSS is granted to employees based on predetermined performance criteria, such as achieving certain financial goals or meeting specific milestones. The number of RSS that vest is contingent upon the achievement of these performance targets. 2. Time-Based RSS: These RSS vest over a certain period of time. Once vested, employees become the shareholders of the company and can sell or retain the stocks as they deem fit. 3. Restricted Stock Awards: This RSS has additional restrictions imposed on them. The restrictions may include a waiting period, employee tenure requirements, or meeting specific performance goals. Once the restrictions are lifted, the RSS are converted into actual company stocks. Employees who participate in the Guam Restricted Stock Plan are provided with an opportunity to share in the company's success by becoming partial owners. It serves as a motivational tool for employees, aligning their interests with the company's performance and fostering a sense of ownership. By offering the Guam Restricted Stock Plan, Guilford Mills, Inc. aims to attract, reward, and retain talented employees, encouraging them to contribute to the company's long-term growth and success. The plan serves as a valuable employee benefit, providing an avenue for employees to develop financial wealth through stock ownership. In summary, the Guam Restricted Stock Plan is a comprehensive employee benefit program offered by Guilford Mills, Inc., granting eligible employees restricted stock units based on various criteria. It is designed to incentivize employees, promote loyalty, and enable them to share in the company's prosperity.