Kentucky Restricted Stock Plan of RPM, Inc.

• Category: Corporations - Public - Stock Options
• State: Multi-State
• Control #: US-CC-18-200A
• Format: Word; Rich Text

Description

18-200A 18-200A . . . Restricted Stock Plan under which (a) Compensation Committee determines those employees of corporation and subsidiaries who are eligible to receive awards of Restricted Shares, (b) Restricted Shares are forfeitable and nontransferable for specified period of time, (c) transfer restrictions remain in place until earliest of (i) later of either employee's termination of employment or lapse of forfeiture restrictions, (ii) change in control with respect to corporation, or (iii) termination of Plan. Restricted Shares are subject to compete forfeiture until earliest to occur of (i) later of either employee's attainment of age 55 or fifth anniversary of May 31st immediately preceding date on which Restricted Shares were awarded, (ii) retirement of employee on or after attainment of age 65, or (iii) change in control with respect to corporation The Kentucky Restricted Stock Plan of RPM, Inc. is a comprehensive employee benefit program designed to incentivize and reward employees of RPM, Inc. with company stock. This plan is implemented within the state of Kentucky and adheres to the specific regulations and guidelines set forth by the state. The Kentucky Restricted Stock Plan offers employees the opportunity to acquire company shares of RPM, Inc. at a reduced price or as a reward for their performance, loyalty, and dedication. It provides a unique way for employees to have a direct stake in the company's success and align their interests with the overall growth and profitability of RPM, Inc. Through this program, eligible employees are granted restricted stock units (RSS) that represent the right to receive actual shares of company stock in the future, subject to certain conditions and restrictions. The RSS are awarded based on predetermined criteria, which may include the employee's position, tenure, individual performance, and overall company performance. This RSS is considered "restricted" as they are subject to specific terms and conditions that recipients must comply with before gaining full ownership of the shares. By participating in the Kentucky Restricted Stock Plan, employees not only have the opportunity to become shareholders in RPM, Inc., but also may enjoy potential tax benefits. Certain types of restricted stock awards may qualify for special tax treatments, such as being eligible for capital gains rates upon selling the shares, which can be advantageous to employees. It is important to note that variations of the Kentucky Restricted Stock Plan may exist within RPM, Inc., tailored to different groups of employees or levels within the organization. For example, there might be a separate plan for executives or high-level management, which could offer enhanced benefits, more significant stock grants, or accelerated vesting schedules. These specialized programs are designed to attract and retain top talent and further align their interests with the growth of RPM, Inc. Overall, the Kentucky Restricted Stock Plan of RPM, Inc. aims to foster a sense of ownership, motivation, and commitment among employees while also creating a mutually beneficial relationship between the company and its workforce. It highlights RPM, Inc.'s dedication to rewarding and recognizing the contributions of its employees and aligning their goals with the long-term success of the organization.

The Kentucky Restricted Stock Plan of RPM, Inc. is a comprehensive employee benefit program designed to incentivize and reward employees of RPM, Inc. with company stock. This plan is implemented within the state of Kentucky and adheres to the specific regulations and guidelines set forth by the state. The Kentucky Restricted Stock Plan offers employees the opportunity to acquire company shares of RPM, Inc. at a reduced price or as a reward for their performance, loyalty, and dedication. It provides a unique way for employees to have a direct stake in the company's success and align their interests with the overall growth and profitability of RPM, Inc. Through this program, eligible employees are granted restricted stock units (RSS) that represent the right to receive actual shares of company stock in the future, subject to certain conditions and restrictions. The RSS are awarded based on predetermined criteria, which may include the employee's position, tenure, individual performance, and overall company performance. This RSS is considered "restricted" as they are subject to specific terms and conditions that recipients must comply with before gaining full ownership of the shares. By participating in the Kentucky Restricted Stock Plan, employees not only have the opportunity to become shareholders in RPM, Inc., but also may enjoy potential tax benefits. Certain types of restricted stock awards may qualify for special tax treatments, such as being eligible for capital gains rates upon selling the shares, which can be advantageous to employees. It is important to note that variations of the Kentucky Restricted Stock Plan may exist within RPM, Inc., tailored to different groups of employees or levels within the organization. For example, there might be a separate plan for executives or high-level management, which could offer enhanced benefits, more significant stock grants, or accelerated vesting schedules. These specialized programs are designed to attract and retain top talent and further align their interests with the growth of RPM, Inc. Overall, the Kentucky Restricted Stock Plan of RPM, Inc. aims to foster a sense of ownership, motivation, and commitment among employees while also creating a mutually beneficial relationship between the company and its workforce. It highlights RPM, Inc.'s dedication to rewarding and recognizing the contributions of its employees and aligning their goals with the long-term success of the organization.