Iowa 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 Iowa Restricted Stock Plan of Bandstand Corp. is a comprehensive employee benefit program that offers eligible employees the opportunity to acquire stock in the company under certain terms and conditions. This plan is designed to provide long-term incentives to employees while aligning their interests with the company's overall growth and success. Under the Iowa Restricted Stock Plan, employees are granted restricted stock units (RSS) based on their performance, position, and contributions to the company. This RSS represents the right to receive shares of Bandstand Corp. stock at a future date, usually after a vesting period or specific milestone is reached. One type of Iowa Restricted Stock Plan offered by Bandstand Corp. is the Performance-based RSU plan. This plan rewards employees based on achieving predetermined performance goals, such as revenue targets, profitability, or market share. Once these goals are met, the RSS become eligible for conversion into company stock. Another type of Iowa Restricted Stock Plan is the Time-based RSU plan. This plan enables employees to acquire company stock after a specified period of service or employment. Typically, this RSS vest gradually over time, with a certain percentage becoming eligible for conversion each year. Participating employees in the Iowa Restricted Stock Plan have the opportunity to have a sense of ownership in Bandstand Corp., which fosters a stronger commitment to its success. As the company achieves its objectives, employees are rewarded through the value appreciation of the company's stock. It is important to note that the terms and conditions of the Iowa Restricted Stock Plan may vary depending on employee level, job function, and other factors. Bandstand Corp. may have additional plans or variations tailored to specific employee groups, such as executives or top-performing individuals. In summary, the Iowa Restricted Stock Plan of Bandstand Corp. is a comprehensive and dynamic employee benefit program that allows eligible employees to acquire company stock through RSS. By offering different types of RSU plans, the company can reward employees based on their performance and time of service. This program fosters employee engagement, aligns their interests with company objectives, and rewards them for contributing to the long-term success of Bandstand Corp.

The Iowa Restricted Stock Plan of Bandstand Corp. is a comprehensive employee benefit program that offers eligible employees the opportunity to acquire stock in the company under certain terms and conditions. This plan is designed to provide long-term incentives to employees while aligning their interests with the company's overall growth and success. Under the Iowa Restricted Stock Plan, employees are granted restricted stock units (RSS) based on their performance, position, and contributions to the company. This RSS represents the right to receive shares of Bandstand Corp. stock at a future date, usually after a vesting period or specific milestone is reached. One type of Iowa Restricted Stock Plan offered by Bandstand Corp. is the Performance-based RSU plan. This plan rewards employees based on achieving predetermined performance goals, such as revenue targets, profitability, or market share. Once these goals are met, the RSS become eligible for conversion into company stock. Another type of Iowa Restricted Stock Plan is the Time-based RSU plan. This plan enables employees to acquire company stock after a specified period of service or employment. Typically, this RSS vest gradually over time, with a certain percentage becoming eligible for conversion each year. Participating employees in the Iowa Restricted Stock Plan have the opportunity to have a sense of ownership in Bandstand Corp., which fosters a stronger commitment to its success. As the company achieves its objectives, employees are rewarded through the value appreciation of the company's stock. It is important to note that the terms and conditions of the Iowa Restricted Stock Plan may vary depending on employee level, job function, and other factors. Bandstand Corp. may have additional plans or variations tailored to specific employee groups, such as executives or top-performing individuals. In summary, the Iowa Restricted Stock Plan of Bandstand Corp. is a comprehensive and dynamic employee benefit program that allows eligible employees to acquire company stock through RSS. By offering different types of RSU plans, the company can reward employees based on their performance and time of service. This program fosters employee engagement, aligns their interests with company objectives, and rewards them for contributing to the long-term success of Bandstand Corp.