Hawaii 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 Hawaii Restricted Stock Plan of Guilford Mills, Inc. is a comprehensive program offered by the company to its employees based in Hawaii. This plan is specifically designed to provide eligible employees with the opportunity to acquire company stock, thereby aligning their interests with the overall success and growth of Guilford Mills, Inc. Under the Hawaii Restricted Stock Plan, employees are granted restricted stock units (RSS) as compensation. This RSS provides employees with the right to receive company shares at a specified future date, subject to certain conditions and restrictions. The primary purpose behind this plan is to incentivize employees, encourage long-term loyalty, and motivate them to contribute to the company's success. One type of the Hawaii Restricted Stock Plan is the Performance-based RSS. This type of RSU grant is tied to specified performance goals established by Guilford Mills, Inc. and is granted to employees based on their individual and/or departmental performance. By linking RSU grants to performance, the plan aims to reward exceptional achievements and inspire employees to reach higher levels of productivity and success. Another type of the Hawaii Restricted Stock Plan is the Time-based RSS. This RSS is granted solely based on an employee's length of service with the company. The longer an employee remains with Guilford Mills, Inc., the greater the number of RSS they receive. This form of RSU grant acknowledges and rewards employee loyalty and encourages employees to build their careers with the company, strengthening employee retention. The Hawaii Restricted Stock Plan of Guilford Mills, Inc. offers several benefits to employees. Firstly, it provides employees with a sense of ownership as they become shareholders. This ownership mentality often leads to increased dedication, as employees feel a deeper connection and responsibility towards the company's performance. Additionally, RSS can be a potentially lucrative investment for employees if the company's stock price increases over time. This can offer employees the opportunity to benefit directly from the company's growth. To ensure compliance and fairness, the Hawaii Restricted Stock Plan is subject to specific terms and conditions. These may include vesting periods, where employees need to fulfill specific requirements or stay with the company for a certain period before the RSS are fully granted or vested. Additionally, the plan may have restrictions on selling or transferability of the RSS. In summary, the Hawaii Restricted Stock Plan of Guilford Mills, Inc. is an enticing compensation program designed to motivate and reward eligible employees in Hawaii. Through the granting of RSS, employees are given the potential opportunity to become shareholders, align their interests with the company's success, and benefit from stock price appreciation over time. Whether through Performance-based or Time-based RSS, this plan aims to enhance employee retention, foster a sense of ownership, and stimulate long-term dedication among employees at Guilford Mills, Inc.

Hawaii Restricted Stock Plan of Guilford Mills, Inc. is a comprehensive program offered by the company to its employees based in Hawaii. This plan is specifically designed to provide eligible employees with the opportunity to acquire company stock, thereby aligning their interests with the overall success and growth of Guilford Mills, Inc. Under the Hawaii Restricted Stock Plan, employees are granted restricted stock units (RSS) as compensation. This RSS provides employees with the right to receive company shares at a specified future date, subject to certain conditions and restrictions. The primary purpose behind this plan is to incentivize employees, encourage long-term loyalty, and motivate them to contribute to the company's success. One type of the Hawaii Restricted Stock Plan is the Performance-based RSS. This type of RSU grant is tied to specified performance goals established by Guilford Mills, Inc. and is granted to employees based on their individual and/or departmental performance. By linking RSU grants to performance, the plan aims to reward exceptional achievements and inspire employees to reach higher levels of productivity and success. Another type of the Hawaii Restricted Stock Plan is the Time-based RSS. This RSS is granted solely based on an employee's length of service with the company. The longer an employee remains with Guilford Mills, Inc., the greater the number of RSS they receive. This form of RSU grant acknowledges and rewards employee loyalty and encourages employees to build their careers with the company, strengthening employee retention. The Hawaii Restricted Stock Plan of Guilford Mills, Inc. offers several benefits to employees. Firstly, it provides employees with a sense of ownership as they become shareholders. This ownership mentality often leads to increased dedication, as employees feel a deeper connection and responsibility towards the company's performance. Additionally, RSS can be a potentially lucrative investment for employees if the company's stock price increases over time. This can offer employees the opportunity to benefit directly from the company's growth. To ensure compliance and fairness, the Hawaii Restricted Stock Plan is subject to specific terms and conditions. These may include vesting periods, where employees need to fulfill specific requirements or stay with the company for a certain period before the RSS are fully granted or vested. Additionally, the plan may have restrictions on selling or transferability of the RSS. In summary, the Hawaii Restricted Stock Plan of Guilford Mills, Inc. is an enticing compensation program designed to motivate and reward eligible employees in Hawaii. Through the granting of RSS, employees are given the potential opportunity to become shareholders, align their interests with the company's success, and benefit from stock price appreciation over time. Whether through Performance-based or Time-based RSS, this plan aims to enhance employee retention, foster a sense of ownership, and stimulate long-term dedication among employees at Guilford Mills, Inc.