Louisiana 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 Louisiana Restricted Stock Plan of Bandstand Corp is a compensation program offered by Bandstand Corp, a renowned corporation based in Louisiana. This plan is designed to provide employees with an opportunity to acquire restricted stock as part of their overall compensation package. Under this plan, eligible employees of Bandstand Corp are allocated a specific number of restricted stock units (RSS) or shares. Restricted stock refers to company shares that are subject to certain restrictions or conditions, which may include a vesting period or performance-based criteria. These conditions ensure that employees remain invested in the success of the company and align their interests with those of the shareholders. The Louisiana Restricted Stock Plan aims to incentivize and reward employees for their commitment, loyalty, and performance. It serves as a valuable tool to retain top talent and motivate employees to contribute towards the long-term growth and profitability of Bandstand Corp. By offering ownership in the company, employees are encouraged to contribute their best efforts and help drive the company's success. The plan may have different types or variations, depending on the specific terms and conditions set by Bandstand Corp. For example, there could be plans that offer immediate vesting of the restricted stock units, meaning employees gain full ownership and can sell or transfer the shares immediately. Alternatively, there may be plans that incorporate a vesting schedule, where the restricted stock units gradually become vested over a specified period, typically based on the employee's continued employment or achieving certain performance goals. It's important for employees to thoroughly review the details of their specific Louisiana Restricted Stock Plan, as these plans can vary in terms of the number of RSS allocated, the vesting provisions, the timeframe for vesting, and any potential tax implications employees may face upon receiving the restricted stock. Overall, the Louisiana Restricted Stock Plan of Bandstand Corp is an advantageous program that offers employees an opportunity to become stakeholders in the company, further aligning their interests with the overall success of Bandstand Corp.

The Louisiana Restricted Stock Plan of Bandstand Corp is a compensation program offered by Bandstand Corp, a renowned corporation based in Louisiana. This plan is designed to provide employees with an opportunity to acquire restricted stock as part of their overall compensation package. Under this plan, eligible employees of Bandstand Corp are allocated a specific number of restricted stock units (RSS) or shares. Restricted stock refers to company shares that are subject to certain restrictions or conditions, which may include a vesting period or performance-based criteria. These conditions ensure that employees remain invested in the success of the company and align their interests with those of the shareholders. The Louisiana Restricted Stock Plan aims to incentivize and reward employees for their commitment, loyalty, and performance. It serves as a valuable tool to retain top talent and motivate employees to contribute towards the long-term growth and profitability of Bandstand Corp. By offering ownership in the company, employees are encouraged to contribute their best efforts and help drive the company's success. The plan may have different types or variations, depending on the specific terms and conditions set by Bandstand Corp. For example, there could be plans that offer immediate vesting of the restricted stock units, meaning employees gain full ownership and can sell or transfer the shares immediately. Alternatively, there may be plans that incorporate a vesting schedule, where the restricted stock units gradually become vested over a specified period, typically based on the employee's continued employment or achieving certain performance goals. It's important for employees to thoroughly review the details of their specific Louisiana Restricted Stock Plan, as these plans can vary in terms of the number of RSS allocated, the vesting provisions, the timeframe for vesting, and any potential tax implications employees may face upon receiving the restricted stock. Overall, the Louisiana Restricted Stock Plan of Bandstand Corp is an advantageous program that offers employees an opportunity to become stakeholders in the company, further aligning their interests with the overall success of Bandstand Corp.