Massachusetts Restricted Stock Plan of Guilford Mills, Inc.

• Category: Corporations - Public - Incentive Compensation Plans
• State: Multi-State
• Control #: US-CC-20-170A
• Format: Word; Rich Text

Description

20-170A 20-170A . . . Restricted Stock Plan under which Compensation Committee grants awards of shares of common stock in accordance with terms and conditions set forth in agreement between corporation and participant. Each Stock Agreement contains such individual and corporate performance goals, restrictions, terms and conditions as Compensation Committee may require including price, if any, which participant shall be required to pay for shares The Massachusetts Restricted Stock Plan of Guilford Mills, Inc. is a comprehensive financial benefit program designed to reward and retain valued employees of the company. This plan enables eligible employees to receive company stock as part of their compensation package. It aims to align employee interests with the company's long-term success while providing a valuable opportunity for employees to share in the company's growth. Under the Massachusetts Restricted Stock Plan, eligible employees are granted restricted stock units (RSS) that represent a certain number of shares of Guilford Mills, Inc. stock. This RSS has a vesting schedule attached to them, which means that employees must satisfy specific requirements, such as completing a certain number of years of service, in order for the stocks to fully vest. Once the RSS vest, employees have the right to receive the shares of stock or their cash equivalent. The Massachusetts Restricted Stock Plan offers various types of RSS to meet the needs of different employees. One type is known as time-based RSS, which vest over a specific period of time. This encourages employees to stay with the company longer and contributes to employee retention. Another type is performance-based RSS, where the vesting is tied to achieving predefined performance goals. This incentivizes employees to contribute to the company's success and exceed performance expectations. The Massachusetts Restricted Stock Plan of Guilford Mills, Inc. also includes provisions related to rights and benefits associated with the ownership of company stock. Participants are entitled to receive dividends and other distributions that shareholders typically receive. They may also have voting rights on certain matters, depending on the specific terms outlined in the plan. It is important to note that the Massachusetts Restricted Stock Plan is subject to legal and regulatory requirements, including those governed by the state of Massachusetts. Guilford Mills, Inc. ensures compliance with these guidelines to provide a fair and transparent process for its employees. Additionally, the plan may have specific eligibility criteria, such as employment status or job level, which must be met to participate. Overall, the Massachusetts Restricted Stock Plan of Guilford Mills, Inc. serves as a valuable tool to attract and retain talent, align employee interests with the company's goals, and provide employees with the opportunity to share in the company's success. This comprehensive plan, encompassing various types of RSS, ensures employees are rewarded for their contributions and incentivized to contribute to the long-term growth and profitability of Guilford Mills, Inc.

The Massachusetts Restricted Stock Plan of Guilford Mills, Inc. is a comprehensive financial benefit program designed to reward and retain valued employees of the company. This plan enables eligible employees to receive company stock as part of their compensation package. It aims to align employee interests with the company's long-term success while providing a valuable opportunity for employees to share in the company's growth. Under the Massachusetts Restricted Stock Plan, eligible employees are granted restricted stock units (RSS) that represent a certain number of shares of Guilford Mills, Inc. stock. This RSS has a vesting schedule attached to them, which means that employees must satisfy specific requirements, such as completing a certain number of years of service, in order for the stocks to fully vest. Once the RSS vest, employees have the right to receive the shares of stock or their cash equivalent. The Massachusetts Restricted Stock Plan offers various types of RSS to meet the needs of different employees. One type is known as time-based RSS, which vest over a specific period of time. This encourages employees to stay with the company longer and contributes to employee retention. Another type is performance-based RSS, where the vesting is tied to achieving predefined performance goals. This incentivizes employees to contribute to the company's success and exceed performance expectations. The Massachusetts Restricted Stock Plan of Guilford Mills, Inc. also includes provisions related to rights and benefits associated with the ownership of company stock. Participants are entitled to receive dividends and other distributions that shareholders typically receive. They may also have voting rights on certain matters, depending on the specific terms outlined in the plan. It is important to note that the Massachusetts Restricted Stock Plan is subject to legal and regulatory requirements, including those governed by the state of Massachusetts. Guilford Mills, Inc. ensures compliance with these guidelines to provide a fair and transparent process for its employees. Additionally, the plan may have specific eligibility criteria, such as employment status or job level, which must be met to participate. Overall, the Massachusetts Restricted Stock Plan of Guilford Mills, Inc. serves as a valuable tool to attract and retain talent, align employee interests with the company's goals, and provide employees with the opportunity to share in the company's success. This comprehensive plan, encompassing various types of RSS, ensures employees are rewarded for their contributions and incentivized to contribute to the long-term growth and profitability of Guilford Mills, Inc.