The Hawaii Key Employees' Restricted Stock Purchase Plan is an exclusive program designed by Pulitzer Publishing Co. to provide key employees in Hawaii with an opportunity to acquire company stock within restricted parameters. This plan serves as an attractive incentive for key employees, reinforcing their dedication and commitment to the company's growth and success. Through the Hawaii Key Employees' Restricted Stock Purchase Plan, eligible participants are offered the chance to purchase a predetermined number of restricted stock units (RSS) at a discounted price. This RSS represents a specific number of shares in Pulitzer Publishing Co. and are subject to certain restrictions and vesting periods. One prominent variation of this plan is the Hawaii Key Employees' Restricted Stock Purchase Plan with Performance-Based Vesting. Under this variant, in addition to meeting the standard vesting requirements, key employees must achieve predefined performance goals to be eligible for the full vesting of their purchased RSS. Such performance goals may be based on individual, team, or company-wide metrics, encouraging strong performance while aligning the interests of key employees with the company's objectives. The Hawaii Key Employees' Restricted Stock Purchase Plan with Graded Vesting is another type offered by Pulitzer Publishing Co. This plan enables key employees to vest a portion of their purchased RSS over a specified period rather than all at once. For example, a key employee might vest 25% of their RSS after one year, with the remaining 75% vesting gradually over the following three years. This approach provides an ongoing incentive for key employees to remain with the company and contribute to its long-term success. Pulitzer Publishing Co. also offers the Hawaii Key Employees' Restricted Stock Purchase Plan with Cashless Exercise. This plan allows key employees to sell enough of their RSS upon vesting to cover the purchase price and any associated taxes. By facilitating a cashless transaction, this variant ensures that key employees can take advantage of the benefits of purchasing stock without incurring significant out-of-pocket expenses. In summary, the Hawaii Key Employees' Restricted Stock Purchase Plan for Pulitzer Publishing Co. provides key employees in Hawaii with an enticing opportunity to purchase company stock at a discounted price. This program boosts employee loyalty and motivation while aligning their interests with the company's performance. Key variations of the plan include those with performance-based vesting, graded vesting, and cashless exercise, each offering unique features to cater to the diverse needs and preferences of key employees.