Massachusetts 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 Massachusetts Management Long-Term Incentive Compensation Plan is a comprehensive program offered by Suncorp to reward and retain its top-performing executives in Massachusetts. This plan is designed to provide additional compensation and incentives for the company's management team based on long-term performance and achievement of predetermined goals. Under the Massachusetts Management Long-Term Incentive Compensation Plan, Suncorp offers several types of incentives to its eligible executives, including stock options, restricted stock units (RSS), performance share units (Plus), and cash bonuses. These incentives aim to align the interests of the management team with the long-term success of the company and its shareholders. Stock options granted under this plan allow executives to purchase a specific number of shares of Suncorp stock at a predetermined price, known as the exercise price. These options typically have a vesting period, meaning executives can exercise their options only after a certain period of time or upon achieving certain performance goals. Restricted stock units (RSS) are awarded to executives, granting them the right to receive Suncorp shares at a future date, subject to the fulfillment of specified vesting conditions. Unlike stock options, RSS do not require executives to purchase the shares. Instead, they are typically granted as part of an incentive package or performance-based bonus. Performance share units (Plus) are another type of incentive awarded under the Massachusetts Management Long-Term Incentive Compensation Plan. These units are often tied to specific financial or operational performance targets set by Suncorp. Executives receive a specific number of pluses based on their performance, and upon achievement of the performance targets, the awarded Plus convert into Suncorp shares or cash equivalents. In addition to equity-based incentives, the plan may also include cash bonuses based on individual or company performance. These bonuses are typically awarded annually or periodically and serve as an additional form of incentive compensation for executives. The Massachusetts Management Long-Term Incentive Compensation Plan is carefully designed to attract, motivate, and retain top talent within the organization. By linking compensation to long-term performance and shareholder value, Suncorp aims to align the interests of its executives with the overall success of the company.

The Massachusetts Management Long-Term Incentive Compensation Plan is a comprehensive program offered by Suncorp to reward and retain its top-performing executives in Massachusetts. This plan is designed to provide additional compensation and incentives for the company's management team based on long-term performance and achievement of predetermined goals. Under the Massachusetts Management Long-Term Incentive Compensation Plan, Suncorp offers several types of incentives to its eligible executives, including stock options, restricted stock units (RSS), performance share units (Plus), and cash bonuses. These incentives aim to align the interests of the management team with the long-term success of the company and its shareholders. Stock options granted under this plan allow executives to purchase a specific number of shares of Suncorp stock at a predetermined price, known as the exercise price. These options typically have a vesting period, meaning executives can exercise their options only after a certain period of time or upon achieving certain performance goals. Restricted stock units (RSS) are awarded to executives, granting them the right to receive Suncorp shares at a future date, subject to the fulfillment of specified vesting conditions. Unlike stock options, RSS do not require executives to purchase the shares. Instead, they are typically granted as part of an incentive package or performance-based bonus. Performance share units (Plus) are another type of incentive awarded under the Massachusetts Management Long-Term Incentive Compensation Plan. These units are often tied to specific financial or operational performance targets set by Suncorp. Executives receive a specific number of pluses based on their performance, and upon achievement of the performance targets, the awarded Plus convert into Suncorp shares or cash equivalents. In addition to equity-based incentives, the plan may also include cash bonuses based on individual or company performance. These bonuses are typically awarded annually or periodically and serve as an additional form of incentive compensation for executives. The Massachusetts Management Long-Term Incentive Compensation Plan is carefully designed to attract, motivate, and retain top talent within the organization. By linking compensation to long-term performance and shareholder value, Suncorp aims to align the interests of its executives with the overall success of the company.