Hawaii 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 The Hawaii Officer Long Term Incentive Compensation Plan is an incentive program designed specifically for officers employed by Southern California Edison Co. in the state of Hawaii. This plan aims to provide long-term retention and motivation for officers by offering attractive compensation rewards based on their performance and contribution to the company's growth. Under this plan, officers are eligible for various types of incentives and rewards, each with their own unique features and criteria. These incentives are structured to align with the company's strategic objectives while attracting and retaining top talent in the Hawaii region. Key features of the Hawaii Officer Long Term Incentive Compensation Plan include: 1. Performance-Based Bonuses: Officers can earn performance-based bonuses based on a predetermined set of goals and metrics. These objectives are aligned with the company's strategic goals and may include financial targets, customer satisfaction goals, operational efficiency, and other key performance indicators relevant to the company's success. 2. Stock Options: This plan may include stock options, allowing officers to purchase company stock at a discounted price over a specific period. Stock options serve as a long-term incentive, as officers benefit from the potential increase in the company's stock value over time. 3. Restricted Stock Units (RSS): RSS grant officers the right to receive shares of company stock, typically subject to a vesting period. This motivates officers to remain with the company and work towards its long-term success. 4. Performance Stock Units (Plus): Plus are similar to RSS, but their award is contingent upon specific performance targets being met. The number of shares awarded is determined by predefined performance criteria, such as earnings per share growth or total shareholder return. 5. Cash Incentives: In addition to stock-based incentives, officers may also be eligible for cash incentives tied to the achievement of specific performance targets or milestones. These cash rewards can provide immediate recognition and motivation. 6. Multi-Year Vesting: To ensure retention and long-term commitment from officers, some incentives within the plan have multi-year vesting schedules. This means that officers need to remain with the company for a certain period to fully realize the benefits of their incentives. It is important to note that the specific details of the Hawaii Officer Long Term Incentive Compensation Plan can vary depending on factors such as the officer's position, level of responsibility, and individual performance. The plan is designed to be equitable and reflective of the officer's contribution to the company's success, while also promoting long-term retention and motivation among Southern California Edison Co.'s officers in Hawaii.

The Hawaii Officer Long Term Incentive Compensation Plan is an incentive program designed specifically for officers employed by Southern California Edison Co. in the state of Hawaii. This plan aims to provide long-term retention and motivation for officers by offering attractive compensation rewards based on their performance and contribution to the company's growth. Under this plan, officers are eligible for various types of incentives and rewards, each with their own unique features and criteria. These incentives are structured to align with the company's strategic objectives while attracting and retaining top talent in the Hawaii region. Key features of the Hawaii Officer Long Term Incentive Compensation Plan include: 1. Performance-Based Bonuses: Officers can earn performance-based bonuses based on a predetermined set of goals and metrics. These objectives are aligned with the company's strategic goals and may include financial targets, customer satisfaction goals, operational efficiency, and other key performance indicators relevant to the company's success. 2. Stock Options: This plan may include stock options, allowing officers to purchase company stock at a discounted price over a specific period. Stock options serve as a long-term incentive, as officers benefit from the potential increase in the company's stock value over time. 3. Restricted Stock Units (RSS): RSS grant officers the right to receive shares of company stock, typically subject to a vesting period. This motivates officers to remain with the company and work towards its long-term success. 4. Performance Stock Units (Plus): Plus are similar to RSS, but their award is contingent upon specific performance targets being met. The number of shares awarded is determined by predefined performance criteria, such as earnings per share growth or total shareholder return. 5. Cash Incentives: In addition to stock-based incentives, officers may also be eligible for cash incentives tied to the achievement of specific performance targets or milestones. These cash rewards can provide immediate recognition and motivation. 6. Multi-Year Vesting: To ensure retention and long-term commitment from officers, some incentives within the plan have multi-year vesting schedules. This means that officers need to remain with the company for a certain period to fully realize the benefits of their incentives. It is important to note that the specific details of the Hawaii Officer Long Term Incentive Compensation Plan can vary depending on factors such as the officer's position, level of responsibility, and individual performance. The plan is designed to be equitable and reflective of the officer's contribution to the company's success, while also promoting long-term retention and motivation among Southern California Edison Co.'s officers in Hawaii.