Guam 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 The Guam Restricted Stock Plan of Bandstand Corp. is a comprehensive employee stock ownership program that offers unique benefits for employees in Guam. Bandstand Corp., a prominent company in Guam, has designed this plan to provide employees with an opportunity to acquire company stock and share in its success. Under this plan, eligible employees are granted restricted stock units (RSS) as a form of compensation. RSS represents a specific number of shares of the company stock but have restrictions on their transferability and vesting periods. These restrictions are in place to ensure that employees remain committed to the company's long-term goals and incentivize their continued dedication and performance. As part of this plan, Bandstand Corp. offers various types of Guam Restricted Stock Units, including: 1. Performance-Based RSS: This RSS is contingent upon the achievement of specific performance targets set forth by the company. Employees will receive the allocated shares of stock based on their individual or team performance, encouraging them to actively contribute to the company's growth and success. 2. Time-Vested RSS: This type of RSU grants employees a certain number of shares that vest over a specific period, often tied to the length of their tenure with the company. Gradually, employees gain rights to the shares, which incentivizes their loyalty and long-term commitment. 3. Dividend Equivalents: In some cases, employees participating in the Guam Restricted Stock Plan may also receive dividend equivalents. This means that during the vesting period, employees are entitled to receive cumulative dividends as if they held the actual shares of the company stock. 4. Early Release RSS: Bandstand Corp. may offer early release RSS to certain employees based on predetermined conditions, such as achieving exceptional performance, meeting specific milestones, or reaching a certain tenure with the company. This RSS allows employees to access their granted shares before the standard vesting period. It is important for employees to understand the terms and conditions of the Guam Restricted Stock Plan, including any restrictions, tax implications, and potential risks involved in owning company stock. Bandstand Corp. may provide detailed communication, information sessions, and resources to educate employees about the plan and its offerings. Overall, the Guam Restricted Stock Plan of Bandstand Corp. is an attractive employee benefit that not only incentivizes employees but also aligns their interests with the company's success. Through restricted stock units, employees have the opportunity to become shareholders, fostering a sense of ownership, pride, and commitment.

The Guam Restricted Stock Plan of Bandstand Corp. is a comprehensive employee stock ownership program that offers unique benefits for employees in Guam. Bandstand Corp., a prominent company in Guam, has designed this plan to provide employees with an opportunity to acquire company stock and share in its success. Under this plan, eligible employees are granted restricted stock units (RSS) as a form of compensation. RSS represents a specific number of shares of the company stock but have restrictions on their transferability and vesting periods. These restrictions are in place to ensure that employees remain committed to the company's long-term goals and incentivize their continued dedication and performance. As part of this plan, Bandstand Corp. offers various types of Guam Restricted Stock Units, including: 1. Performance-Based RSS: This RSS is contingent upon the achievement of specific performance targets set forth by the company. Employees will receive the allocated shares of stock based on their individual or team performance, encouraging them to actively contribute to the company's growth and success. 2. Time-Vested RSS: This type of RSU grants employees a certain number of shares that vest over a specific period, often tied to the length of their tenure with the company. Gradually, employees gain rights to the shares, which incentivizes their loyalty and long-term commitment. 3. Dividend Equivalents: In some cases, employees participating in the Guam Restricted Stock Plan may also receive dividend equivalents. This means that during the vesting period, employees are entitled to receive cumulative dividends as if they held the actual shares of the company stock. 4. Early Release RSS: Bandstand Corp. may offer early release RSS to certain employees based on predetermined conditions, such as achieving exceptional performance, meeting specific milestones, or reaching a certain tenure with the company. This RSS allows employees to access their granted shares before the standard vesting period. It is important for employees to understand the terms and conditions of the Guam Restricted Stock Plan, including any restrictions, tax implications, and potential risks involved in owning company stock. Bandstand Corp. may provide detailed communication, information sessions, and resources to educate employees about the plan and its offerings. Overall, the Guam Restricted Stock Plan of Bandstand Corp. is an attractive employee benefit that not only incentivizes employees but also aligns their interests with the company's success. Through restricted stock units, employees have the opportunity to become shareholders, fostering a sense of ownership, pride, and commitment.