Kentucky Management Long Term Incentive Compensation Plan of of SCEcorp

• Category: Corporations - Public - Incentive Compensation Plans
• State: Multi-State
• Control #: US-CC-18-268B
• Format: Word; Rich Text

Description

18-268B 18-268B . . . Management Long Term Incentive Compensation Plan under which compensation committee can grant (i) stock appreciation equivalents (hypothetical stock "units" which are granted to participant and upon which value of any incentive award is calculated), (ii) dividend equivalents (which represent value of dividends per share paid by corporation, calculated upon stock or stock units held by participant and which, if objectives set by committee are met, are paid to participant), (iii) Non-qualified Stock Options, (iv) incentive stock options, (v) restricted stock, (vi) stock appreciation rights, and (vii) performance awards The Kentucky Management Long Term Incentive Compensation Plan of Suncorp is a comprehensive rewards program designed to incentivize and motivate managers based in the state of Kentucky within the Suncorp organization. It provides a framework for attracting, retaining, and rewarding talented individuals in key management positions. Under this plan, eligible managers in Kentucky have the opportunity to earn long-term incentives that are directly tied to the performance and success of Suncorp. The plan aims to align the interests of managers with the company's wider objectives, encouraging them to make strategic decisions and take actions that contribute to Suncorp's growth and profitability. The Kentucky Management Long Term Incentive Compensation Plan offers several variations to cater to the diverse needs and roles of managers across different departments and levels within Suncorp. Some of these types may include: 1. Performance-based Incentives: This type of plan emphasizes the achievement of specific performance goals set by Suncorp. Managers are assigned targets related to financial metrics, operational efficiency, customer satisfaction, or other relevant key performance indicators (KPIs). The incentive payout is determined based on the extent to which these targets are met or exceeded. 2. Stock Options or Restricted Stock Units (RSS): In this version of the plan, eligible managers are granted the opportunity to receive stock options or RSS, which represent a predetermined number of shares in Suncorp's stock. The value of these equity-based incentives is tied to the overall performance of the company's stock over a specified period. Managers can exercise these options or receive the shares after a predetermined vesting period, typically subject to certain performance or employment conditions. 3. Cash-based Incentives: This plan type provides managers with cash rewards based on predefined performance criteria. The payout is directly tied to the achievement of specific goals or milestones set at the individual, team, or company level. Cash incentives can be awarded annually, bi-annually, or at the end of a specified long-term performance period. 4. Restricted Performance Stock Units (Plus): In this variant of the plan, managers are awarded Plus that convert into Suncorp's common stock upon achieving predetermined performance targets. The Plus have restrictions on their transferability or sale until a specific vesting period expires. Once vested, managers can convert the Plus into shares, enabling them to participate in the company's future success. The Kentucky Management Long Term Incentive Compensation Plan of Suncorp serves as a valuable tool for attracting and retaining top managerial talent in Kentucky. It fosters a performance-driven culture, aligns management objectives with corporate goals, and cultivates a sense of ownership among managers. By implementing tailored incentives and rewards, Suncorp can effectively recognize, motivate, and retain key individuals who play a pivotal role in the company's long-term success.

The Kentucky Management Long Term Incentive Compensation Plan of Suncorp is a comprehensive rewards program designed to incentivize and motivate managers based in the state of Kentucky within the Suncorp organization. It provides a framework for attracting, retaining, and rewarding talented individuals in key management positions. Under this plan, eligible managers in Kentucky have the opportunity to earn long-term incentives that are directly tied to the performance and success of Suncorp. The plan aims to align the interests of managers with the company's wider objectives, encouraging them to make strategic decisions and take actions that contribute to Suncorp's growth and profitability. The Kentucky Management Long Term Incentive Compensation Plan offers several variations to cater to the diverse needs and roles of managers across different departments and levels within Suncorp. Some of these types may include: 1. Performance-based Incentives: This type of plan emphasizes the achievement of specific performance goals set by Suncorp. Managers are assigned targets related to financial metrics, operational efficiency, customer satisfaction, or other relevant key performance indicators (KPIs). The incentive payout is determined based on the extent to which these targets are met or exceeded. 2. Stock Options or Restricted Stock Units (RSS): In this version of the plan, eligible managers are granted the opportunity to receive stock options or RSS, which represent a predetermined number of shares in Suncorp's stock. The value of these equity-based incentives is tied to the overall performance of the company's stock over a specified period. Managers can exercise these options or receive the shares after a predetermined vesting period, typically subject to certain performance or employment conditions. 3. Cash-based Incentives: This plan type provides managers with cash rewards based on predefined performance criteria. The payout is directly tied to the achievement of specific goals or milestones set at the individual, team, or company level. Cash incentives can be awarded annually, bi-annually, or at the end of a specified long-term performance period. 4. Restricted Performance Stock Units (Plus): In this variant of the plan, managers are awarded Plus that convert into Suncorp's common stock upon achieving predetermined performance targets. The Plus have restrictions on their transferability or sale until a specific vesting period expires. Once vested, managers can convert the Plus into shares, enabling them to participate in the company's future success. The Kentucky Management Long Term Incentive Compensation Plan of Suncorp serves as a valuable tool for attracting and retaining top managerial talent in Kentucky. It fosters a performance-driven culture, aligns management objectives with corporate goals, and cultivates a sense of ownership among managers. By implementing tailored incentives and rewards, Suncorp can effectively recognize, motivate, and retain key individuals who play a pivotal role in the company's long-term success.