Massachusetts 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 Massachusetts Restricted Stock Plan is a compensation strategy implemented by Bandstand Corp., a prominent corporation operating in Massachusetts. This plan serves as an incentive for employees, offering them the opportunity to acquire company stocks at a discounted or restricted price. By participating in this plan, employees receive restricted stock units (RSS) that represent a specific number of shares. The Massachusetts Restricted Stock Plan provided by Bandstand Corp. is designed to align the interests of the employees with the company's long-term goals, as the RSS generally have a vesting schedule, incentivizing employee retention. Massachusetts law regulates the administration and implementation of this plan, ensuring fairness and compliance. The plan typically involves several key elements, including eligibility criteria, the granting of RSS, vesting periods, and settlement mechanisms. One type of Massachusetts Restricted Stock Plan offered by Bandstand Corp. may be the Performance-Based Restricted Stock Plan. This variant rewards employees based on their achievement of pre-determined performance goals, such as achieving specific financial targets or meeting certain milestones. Participants in this plan may receive additional shares if performance targets are met, incentivizing exceptional performance and driving company growth. Another type of Restricted Stock Plan that Bandstand Corp. might provide in Massachusetts is the Time-Based Restricted Stock Plan. Under this plan, participants receive a predetermined number of RSS at a specified grant date. This RSS typically vest over a specific period, such as three years, with a portion of the shares granted becoming available on each vesting anniversary. This type of plan encourages employee loyalty and allows participants to share in the company's success as their shares vest. The Massachusetts Restricted Stock Plan of Bandstand Corp. is a valuable tool for attracting and retaining high-performing employees. It aligns the interests of the workforce with the company's long-term strategy while complying with state regulations. By granting RSS, offering various vesting schedules, and potentially incorporating performance-based incentives, Bandstand Corp. ensures its employees are rewarded for their efforts and incentivized to contribute to the company's growth and success.

Massachusetts Restricted Stock Plan is a compensation strategy implemented by Bandstand Corp., a prominent corporation operating in Massachusetts. This plan serves as an incentive for employees, offering them the opportunity to acquire company stocks at a discounted or restricted price. By participating in this plan, employees receive restricted stock units (RSS) that represent a specific number of shares. The Massachusetts Restricted Stock Plan provided by Bandstand Corp. is designed to align the interests of the employees with the company's long-term goals, as the RSS generally have a vesting schedule, incentivizing employee retention. Massachusetts law regulates the administration and implementation of this plan, ensuring fairness and compliance. The plan typically involves several key elements, including eligibility criteria, the granting of RSS, vesting periods, and settlement mechanisms. One type of Massachusetts Restricted Stock Plan offered by Bandstand Corp. may be the Performance-Based Restricted Stock Plan. This variant rewards employees based on their achievement of pre-determined performance goals, such as achieving specific financial targets or meeting certain milestones. Participants in this plan may receive additional shares if performance targets are met, incentivizing exceptional performance and driving company growth. Another type of Restricted Stock Plan that Bandstand Corp. might provide in Massachusetts is the Time-Based Restricted Stock Plan. Under this plan, participants receive a predetermined number of RSS at a specified grant date. This RSS typically vest over a specific period, such as three years, with a portion of the shares granted becoming available on each vesting anniversary. This type of plan encourages employee loyalty and allows participants to share in the company's success as their shares vest. The Massachusetts Restricted Stock Plan of Bandstand Corp. is a valuable tool for attracting and retaining high-performing employees. It aligns the interests of the workforce with the company's long-term strategy while complying with state regulations. By granting RSS, offering various vesting schedules, and potentially incorporating performance-based incentives, Bandstand Corp. ensures its employees are rewarded for their efforts and incentivized to contribute to the company's growth and success.