Indiana 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 Indiana Long Term Incentive Compensation Plan is a rewarding program introduced by A.M. Castle and Co., a prominent company operating in Indiana. This plan serves as a means to motivate and retain talented employees by offering them attractive incentives over an extended period. Through this plan, A.M. Castle and Co. aims to align the interests of its workforce with the company's long-term goals and create a culture of performance and growth. One type of Indiana Long Term Incentive Compensation Plan implemented by A.M. Castle and Co. is the performance-based stock option plan. This plan grants eligible employees the opportunity to purchase company stock at a specified price within a defined time period. The stock options are linked to predetermined performance goals and are typically granted to key employees, such as executives and senior managers. Participants in this plan benefit from the potential appreciation in the value of the company's stock, which is directly tied to their individual and collective achievements. Another variant of the Indiana Long Term Incentive Compensation Plan is the restricted stock unit (RSU) program. Under this plan, eligible employees receive RSS, which grant them a conditional right to receive shares of A.M. Castle and Co. stock at a predetermined future date. The attainment of specific performance targets or the completion of a specified service period determines the vesting of this RSS. Once vested, employees receive the equivalent value of the shares based on the prevailing stock price, providing them with a tangible and valuable compensation award. Additionally, the Indiana Long Term Incentive Compensation Plan may encompass a performance cash bonus component. This type of incentive plan rewards employees with cash bonuses based on the achievement of predefined performance metrics. These metrics can include both individual and company-specific goals, designed to motivate employees to strive for excellence in their respective roles. Performance cash bonuses are typically paid out annually or at specific intervals, providing employees with immediate financial gratification for their contributions. Overall, the Indiana Long Term Incentive Compensation Plan of A.M. Castle and Co. is a comprehensive and strategic approach to attracting, retaining, and motivating employees. By offering enticing stock options, RSS, and performance cash bonuses, the company encourages its workforce to remain dedicated to achieving organizational objectives. Through this plan, A.M. Castle and Co. demonstrates its commitment to recognizing and promoting success, fostering a culture of growth, and ultimately ensuring the overall prosperity of both the company and its employees.

The Indiana Long Term Incentive Compensation Plan is a rewarding program introduced by A.M. Castle and Co., a prominent company operating in Indiana. This plan serves as a means to motivate and retain talented employees by offering them attractive incentives over an extended period. Through this plan, A.M. Castle and Co. aims to align the interests of its workforce with the company's long-term goals and create a culture of performance and growth. One type of Indiana Long Term Incentive Compensation Plan implemented by A.M. Castle and Co. is the performance-based stock option plan. This plan grants eligible employees the opportunity to purchase company stock at a specified price within a defined time period. The stock options are linked to predetermined performance goals and are typically granted to key employees, such as executives and senior managers. Participants in this plan benefit from the potential appreciation in the value of the company's stock, which is directly tied to their individual and collective achievements. Another variant of the Indiana Long Term Incentive Compensation Plan is the restricted stock unit (RSU) program. Under this plan, eligible employees receive RSS, which grant them a conditional right to receive shares of A.M. Castle and Co. stock at a predetermined future date. The attainment of specific performance targets or the completion of a specified service period determines the vesting of this RSS. Once vested, employees receive the equivalent value of the shares based on the prevailing stock price, providing them with a tangible and valuable compensation award. Additionally, the Indiana Long Term Incentive Compensation Plan may encompass a performance cash bonus component. This type of incentive plan rewards employees with cash bonuses based on the achievement of predefined performance metrics. These metrics can include both individual and company-specific goals, designed to motivate employees to strive for excellence in their respective roles. Performance cash bonuses are typically paid out annually or at specific intervals, providing employees with immediate financial gratification for their contributions. Overall, the Indiana Long Term Incentive Compensation Plan of A.M. Castle and Co. is a comprehensive and strategic approach to attracting, retaining, and motivating employees. By offering enticing stock options, RSS, and performance cash bonuses, the company encourages its workforce to remain dedicated to achieving organizational objectives. Through this plan, A.M. Castle and Co. demonstrates its commitment to recognizing and promoting success, fostering a culture of growth, and ultimately ensuring the overall prosperity of both the company and its employees.