Louisiana 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 Louisiana Restricted Stock Plan of RPM, Inc. is a comprehensive employee benefit program designed to incentivize and reward employees of RPM, Inc. in Louisiana. This plan offers eligible employees the opportunity to acquire and own shares of stock in RPM, Inc., a leading company in the industry known for its innovative products and services. Under the Louisiana Restricted Stock Plan, participants are granted restricted stock units (RSS) as a form of compensation. This RSS represents a specific number of shares of RPM, Inc.'s stock that are subject to certain restrictions and vesting schedules. Upon meeting the necessary conditions, such as completing a specified number of years of service or achieving specific performance goals, the RSS convert into actual shares of RPM, Inc. stock. The Louisiana Restricted Stock Plan aims to align the interests of employees with those of the company, fostering a sense of ownership and commitment among the workforce. By granting employees ownership in the form of restricted stock, RPM, Inc. seeks to incentivize long-term dedication, loyalty, and performance excellence. There may be different types or variations of the Louisiana Restricted Stock Plan of RPM, Inc., which can depend on factors such as employee position, tenure, or performance metrics. These variations may include: 1. Performance-Based Restricted Stock Units: This RSS is granted to employees based on their achievement of predefined performance goals. Once the goals are met, the RSS convert into RPM, Inc. stock. 2. Time-Based Restricted Stock Units: These RSS vest over a specified period, typically several years, rewarding employees who remain with RPM, Inc. for an extended duration. 3. Executive Restricted Stock Plan: This specific plan caters to RPM, Inc.'s executives and high-level management, offering additional benefits and stock-based incentives tailored to their positions and responsibilities. 4. Equity Incentive Plan: Apart from the standard restricted stock units, RPM, Inc. may have an equity incentive plan that incorporates other stock-based compensation methods, including stock options and stock appreciation rights. The Louisiana Restricted Stock Plan underscores RPM, Inc.'s commitment to attract, retain, and motivate a talented workforce in Louisiana while providing employees with a valuable financial stake in the company's success. This employee-centric approach ultimately strengthens RPM, Inc.'s overall performance and creates a mutually beneficial relationship between the company and its employees.