Kentucky 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 Kentucky Restricted Stock Plan offered by Bandstand Corp. is a comprehensive program designed to provide eligible employees with an opportunity to receive company stocks as a form of compensation. This plan revolves around granting restricted stock units (RSS) to participants, which entitle them to specific benefits and privileges in accordance with the terms and conditions of the plan. Under the Kentucky Restricted Stock Plan, employees are awarded RSS that represent a predetermined number of shares of Bandstand Corp.'s common stock. This RSS come with certain restrictions and conditions that regulate their conversion into actual stock ownership. The vesting period of the RSS determines when and how they can be converted, typically due to meeting specified performance goals or staying with the company for a certain period. One of the key aspects of this plan is that participants do not incur any personal costs in acquiring this RSS. They are essentially granted to employees without requiring any direct purchase. However, the value of the granted RSS may be subject to taxation upon conversion into actual stock ownership, as per the prevailing laws and regulations. In addition to the standard Kentucky Restricted Stock Plan, Bandstand Corp. may offer variations or sub-plans to cater to the specific needs of different employee groups. For example, there could be an Executive Restricted Stock Plan designed exclusively for top-level executives, providing additional RSS or modified terms. Additionally, there might be an Employee Stock Purchase Plan (ESPN) allowing employees to purchase company stock at a discounted price, separate from the RSU awards. Participation in the Kentucky Restricted Stock Plan demonstrates the commitment of Bandstand Corp. to attract and retain top talent. By providing employees with an opportunity to become company shareholders, this plan aligns their interests with the growth and success of Bandstand Corp. Further, it serves as a long-term incentivization tool, encouraging employees to remain dedicated to the company's goals, ultimately contributing to its overall prosperity. In summary, the Kentucky Restricted Stock Plan of Bandstand Corp. is a comprehensive compensation program focused on granting RSS to eligible employees. This RSS represents a specific number of shares, subject to certain restrictions and conditions. Different variations of the plan, such as an Executive Restricted Stock Plan or an ESPN, may also exist to cater to specific employee groups. Overall, this plan aims to incentivize and align employees with the sustained growth and success of Bandstand Corp.

The Kentucky Restricted Stock Plan offered by Bandstand Corp. is a comprehensive program designed to provide eligible employees with an opportunity to receive company stocks as a form of compensation. This plan revolves around granting restricted stock units (RSS) to participants, which entitle them to specific benefits and privileges in accordance with the terms and conditions of the plan. Under the Kentucky Restricted Stock Plan, employees are awarded RSS that represent a predetermined number of shares of Bandstand Corp.'s common stock. This RSS come with certain restrictions and conditions that regulate their conversion into actual stock ownership. The vesting period of the RSS determines when and how they can be converted, typically due to meeting specified performance goals or staying with the company for a certain period. One of the key aspects of this plan is that participants do not incur any personal costs in acquiring this RSS. They are essentially granted to employees without requiring any direct purchase. However, the value of the granted RSS may be subject to taxation upon conversion into actual stock ownership, as per the prevailing laws and regulations. In addition to the standard Kentucky Restricted Stock Plan, Bandstand Corp. may offer variations or sub-plans to cater to the specific needs of different employee groups. For example, there could be an Executive Restricted Stock Plan designed exclusively for top-level executives, providing additional RSS or modified terms. Additionally, there might be an Employee Stock Purchase Plan (ESPN) allowing employees to purchase company stock at a discounted price, separate from the RSU awards. Participation in the Kentucky Restricted Stock Plan demonstrates the commitment of Bandstand Corp. to attract and retain top talent. By providing employees with an opportunity to become company shareholders, this plan aligns their interests with the growth and success of Bandstand Corp. Further, it serves as a long-term incentivization tool, encouraging employees to remain dedicated to the company's goals, ultimately contributing to its overall prosperity. In summary, the Kentucky Restricted Stock Plan of Bandstand Corp. is a comprehensive compensation program focused on granting RSS to eligible employees. This RSS represents a specific number of shares, subject to certain restrictions and conditions. Different variations of the plan, such as an Executive Restricted Stock Plan or an ESPN, may also exist to cater to specific employee groups. Overall, this plan aims to incentivize and align employees with the sustained growth and success of Bandstand Corp.