Indiana 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 Indiana Restricted Stock Plan of Bandstand Corp., also known as the Indiana RS Plan, is a comprehensive employee benefit program offered by Bandstand Corp., a prominent company based in Indiana. This plan is designed to incentivize and reward eligible employees by providing them with restricted stock as a form of compensation. Under this plan, employees are granted restricted stock, which means that they receive company shares that are subject to certain limitations and conditions. These restrictions are typically put in place to encourage long-term commitment and loyalty to the company. The Indiana RS Plan offers various types of restricted stock grants, each tailored to meet the distinct needs and goals of eligible participating employees. Some different types of restricted stock grants that may be available under this plan include: 1. Time-based Restricted Stock: This type of grant is contingent upon an employee's continued service with Bandstand Corp. over a specified period. The shares typically vest gradually over time, encouraging employees to remain with the company and contribute to its growth. 2. Performance-based Restricted Stock: This grant is based on the achievement of predetermined performance goals or targets. Employees must meet specific performance criteria, such as financial metrics or operational objectives, to become eligible for the restricted stock. 3. Market Condition-based Restricted Stock: This type of grant is subject to certain market conditions, such as reaching a certain stock price or outperforming industry benchmarks. The restricted stock is typically granted if these conditions are met, ensuring that employees are rewarded when the company performs well in the market. 4. Equity Incentive Plans: The Indiana RS Plan may also encompass equity incentive programs that provide employees with the opportunity to purchase company stock at a predetermined price. These plans aim to align employees' interests with the company's long-term success. Overall, the Indiana Restricted Stock Plan of Bandstand Corp. serves as a valuable tool to attract, retain, and motivate talented employees. By offering restricted stock grants, this plan provides employees with a tangible stake in the company's success, fostering a sense of ownership and loyalty. The plan's various types of grants ensure flexibility and allow for customization based on individual and company-wide goals, ultimately benefiting both employees and the organization.

The Indiana Restricted Stock Plan of Bandstand Corp., also known as the Indiana RS Plan, is a comprehensive employee benefit program offered by Bandstand Corp., a prominent company based in Indiana. This plan is designed to incentivize and reward eligible employees by providing them with restricted stock as a form of compensation. Under this plan, employees are granted restricted stock, which means that they receive company shares that are subject to certain limitations and conditions. These restrictions are typically put in place to encourage long-term commitment and loyalty to the company. The Indiana RS Plan offers various types of restricted stock grants, each tailored to meet the distinct needs and goals of eligible participating employees. Some different types of restricted stock grants that may be available under this plan include: 1. Time-based Restricted Stock: This type of grant is contingent upon an employee's continued service with Bandstand Corp. over a specified period. The shares typically vest gradually over time, encouraging employees to remain with the company and contribute to its growth. 2. Performance-based Restricted Stock: This grant is based on the achievement of predetermined performance goals or targets. Employees must meet specific performance criteria, such as financial metrics or operational objectives, to become eligible for the restricted stock. 3. Market Condition-based Restricted Stock: This type of grant is subject to certain market conditions, such as reaching a certain stock price or outperforming industry benchmarks. The restricted stock is typically granted if these conditions are met, ensuring that employees are rewarded when the company performs well in the market. 4. Equity Incentive Plans: The Indiana RS Plan may also encompass equity incentive programs that provide employees with the opportunity to purchase company stock at a predetermined price. These plans aim to align employees' interests with the company's long-term success. Overall, the Indiana Restricted Stock Plan of Bandstand Corp. serves as a valuable tool to attract, retain, and motivate talented employees. By offering restricted stock grants, this plan provides employees with a tangible stake in the company's success, fostering a sense of ownership and loyalty. The plan's various types of grants ensure flexibility and allow for customization based on individual and company-wide goals, ultimately benefiting both employees and the organization.