Massachusetts Long Term Incentive Program for Senior Management

• Category: Corporations - Public - Incentive Compensation Plans
• State: Multi-State
• Control #: US-CC-20-162L
• Format: Word; Rich Text

Description

20-162L 20-162L . . . Long Term Incentive Program For Senior Management under which Compensation Committee may award (a) stock appreciation rights and (b) performance share units. Performance share units entitle holder to receive cash payment equal to (i) average market price of one share of corporation common stock during December ("Measuring Month") in third calendar year following year in which award is made, plus (ii) aggregate dividends with respect to one share of corporation common stock from January 1 of year in which award is made until last day of Measuring Month. At maturity, number of units initially awarded shall be (i) multiplied by fraction that corresponds to average annual percentage increase or decrease in book value per share of corporation common stock over four year period prior to maturity, and (ii) then further adjusted based on ratio of market value of corporation common stock to its book value as compared to that of comparable electric utility companies The Massachusetts Long Term Incentive Program for Senior Management is a state-run initiative designed to attract and retain top-level executives in key industries within the state. This particular program aims to encourage senior management personnel to invest their skills and expertise in Massachusetts-based companies, thereby driving economic growth and fostering innovation. With a focus on long-term sustainability and performance, the program provides various incentives and rewards to participating executives. One type of the Massachusetts Long Term Incentive Program for Senior Management is the Stock Option Plan. Under this plan, senior executives are granted the option to purchase company stock at a predetermined price within a specified time frame. This allows them to share in any future financial gains or growth experienced by the company. Another type of incentive program is the Performance Bonus Initiative. Executives who meet or exceed predetermined performance goals are eligible for additional compensation in the form of bonuses. These bonuses can be based on metrics such as revenue growth, cost management, market share increase, or other specific targets outlined by the organization. Additionally, the Restricted Stock Units (RSS) plan is another offering within the Massachusetts Long Term Incentive Program for Senior Management. With RSS, senior executives are awarded a specified number of company shares that are subject to certain restrictions, such as a vesting period or performance milestones. Once these restrictions are met, the shares become fully owned by the executive, providing them with a direct stake in the company's success. Furthermore, the Deferred Compensation Plan is also available under this program. This plan allows senior executives to defer a portion of their salary or annual bonus, which is then invested in various investment vehicles, such as stocks, bonds, or mutual funds. The deferred funds accumulate over time and are paid out to the executive at a later date, often upon retirement or when a predetermined trigger event occurs. The Massachusetts Long Term Incentive Program for Senior Management seeks to create a mutually beneficial relationship between executives and their companies. By providing enticing incentives like stock options, performance bonuses, restricted stock units, and deferred compensation plans, the program aims to attract and retain top talent, fostering industry growth and maintaining Massachusetts' position as a hub for innovation and economic development.

The Massachusetts Long Term Incentive Program for Senior Management is a state-run initiative designed to attract and retain top-level executives in key industries within the state. This particular program aims to encourage senior management personnel to invest their skills and expertise in Massachusetts-based companies, thereby driving economic growth and fostering innovation. With a focus on long-term sustainability and performance, the program provides various incentives and rewards to participating executives. One type of the Massachusetts Long Term Incentive Program for Senior Management is the Stock Option Plan. Under this plan, senior executives are granted the option to purchase company stock at a predetermined price within a specified time frame. This allows them to share in any future financial gains or growth experienced by the company. Another type of incentive program is the Performance Bonus Initiative. Executives who meet or exceed predetermined performance goals are eligible for additional compensation in the form of bonuses. These bonuses can be based on metrics such as revenue growth, cost management, market share increase, or other specific targets outlined by the organization. Additionally, the Restricted Stock Units (RSS) plan is another offering within the Massachusetts Long Term Incentive Program for Senior Management. With RSS, senior executives are awarded a specified number of company shares that are subject to certain restrictions, such as a vesting period or performance milestones. Once these restrictions are met, the shares become fully owned by the executive, providing them with a direct stake in the company's success. Furthermore, the Deferred Compensation Plan is also available under this program. This plan allows senior executives to defer a portion of their salary or annual bonus, which is then invested in various investment vehicles, such as stocks, bonds, or mutual funds. The deferred funds accumulate over time and are paid out to the executive at a later date, often upon retirement or when a predetermined trigger event occurs. The Massachusetts Long Term Incentive Program for Senior Management seeks to create a mutually beneficial relationship between executives and their companies. By providing enticing incentives like stock options, performance bonuses, restricted stock units, and deferred compensation plans, the program aims to attract and retain top talent, fostering industry growth and maintaining Massachusetts' position as a hub for innovation and economic development.