Illinois Long Term Incentive Compensation Plan of A.M. Castle and Co.

• Category: Corporations - Public - Incentive Compensation Plans
• State: Multi-State
• Control #: US-CC-20-181
• Format: Word; Rich Text

Description

20-181 20-181 . . . Long Term Incentive Compensation Plan under which Human Resources Committee designates employees who will be participants in Plan and establishes Maximum Award Percentage with respect to each participant for each three year performance cycle. Each participant is entitled to a Performance Award if annual compounded total return (based upon stock appreciation and deemed reinvestment of dividends) on corporation common stock for that performance cycle equals or exceeds 1.5% plus annual compounded total return on common stock of Standard & Poor's 500 Industrials for such period. A participant's Performance Award for a performance cycle is amount equal to product of (a) participant's base salary multiplied by (b) his Maximum Award Percentage multiplied by (c) applicable Attainment Percentage for that performance cycle The Illinois Long Term Incentive Compensation Plan of A.M. Castle and Co. is a comprehensive employee reward program designed to motivate and retain top talent within the organization. This plan aims to align the interests of key employees with those of the company's long-term goals and objectives. By offering attractive incentives, the company strives to encourage high performance, create value for shareholders, and foster a culture of excellence. Key features of the Illinois Long Term Incentive Compensation Plan include stock-based awards, performance-based bonuses, and other long-term incentives tied to specific metrics and milestones. These incentives are designed to reward exceptional performance over an extended period, typically spanning three to five years, to ensure a strong focus on long-term success. Under this plan, eligible employees may receive stock options, restricted stock units (RSS), or performance-based equity awards. Stock options provide employees the opportunity to purchase company stock at a predetermined price, known as the exercise price, at a future date. RSS, on the other hand, grant employees a specific number of company shares that will vest over time or upon achieving certain performance goals. Performance-based equity awards are tied to predetermined performance targets, such as revenue, earnings per share, or total shareholder return, and are granted if these targets are met. The Illinois Long Term Incentive Compensation Plan's structure may vary depending on an employee's level within the organization. Top executives, such as the CEO and other C-suite executives, may have a separate plan with additional benefits and different performance criteria. However, the overall goal remains the same: to reward employees for their contribution to the company's long-term growth and shareholder value. Participants in the Long Term Incentive Compensation Plan are typically subject to vesting schedules, ensuring that they remain with the company for a certain duration to realize the full benefits of the incentive. This encourages employee retention and discourages short-term thinking or actions that may not align with the company's long-term interests. The plan also strives to adhere to various regulatory and governance requirements, ensuring fairness and transparency in the allocation of incentives. Additionally, the plan may contain provisions for adjustments or modifications in case of significant changes, such as mergers, acquisitions, or shifts in market conditions. In summary, A.M. Castle and Co.'s Illinois Long Term Incentive Compensation Plan is a strategic initiative aimed at attracting, motivating, and retaining exceptional talent. With its stock-based awards, performance-based bonuses, and long-term incentives, the plan emphasizes aligning employee and shareholder interests to drive long-term growth and success.

The Illinois Long Term Incentive Compensation Plan of A.M. Castle and Co. is a comprehensive employee reward program designed to motivate and retain top talent within the organization. This plan aims to align the interests of key employees with those of the company's long-term goals and objectives. By offering attractive incentives, the company strives to encourage high performance, create value for shareholders, and foster a culture of excellence. Key features of the Illinois Long Term Incentive Compensation Plan include stock-based awards, performance-based bonuses, and other long-term incentives tied to specific metrics and milestones. These incentives are designed to reward exceptional performance over an extended period, typically spanning three to five years, to ensure a strong focus on long-term success. Under this plan, eligible employees may receive stock options, restricted stock units (RSS), or performance-based equity awards. Stock options provide employees the opportunity to purchase company stock at a predetermined price, known as the exercise price, at a future date. RSS, on the other hand, grant employees a specific number of company shares that will vest over time or upon achieving certain performance goals. Performance-based equity awards are tied to predetermined performance targets, such as revenue, earnings per share, or total shareholder return, and are granted if these targets are met. The Illinois Long Term Incentive Compensation Plan's structure may vary depending on an employee's level within the organization. Top executives, such as the CEO and other C-suite executives, may have a separate plan with additional benefits and different performance criteria. However, the overall goal remains the same: to reward employees for their contribution to the company's long-term growth and shareholder value. Participants in the Long Term Incentive Compensation Plan are typically subject to vesting schedules, ensuring that they remain with the company for a certain duration to realize the full benefits of the incentive. This encourages employee retention and discourages short-term thinking or actions that may not align with the company's long-term interests. The plan also strives to adhere to various regulatory and governance requirements, ensuring fairness and transparency in the allocation of incentives. Additionally, the plan may contain provisions for adjustments or modifications in case of significant changes, such as mergers, acquisitions, or shifts in market conditions. In summary, A.M. Castle and Co.'s Illinois Long Term Incentive Compensation Plan is a strategic initiative aimed at attracting, motivating, and retaining exceptional talent. With its stock-based awards, performance-based bonuses, and long-term incentives, the plan emphasizes aligning employee and shareholder interests to drive long-term growth and success.