Maryland Restricted Stock Plan of RPM, Inc.

• Category: Corporations - Public - Stock Options
• State: Multi-State
• Control #: US-CC-18-200A
• Format: Word; Rich Text

Description

18-200A 18-200A . . . Restricted Stock Plan under which (a) Compensation Committee determines those employees of corporation and subsidiaries who are eligible to receive awards of Restricted Shares, (b) Restricted Shares are forfeitable and nontransferable for specified period of time, (c) transfer restrictions remain in place until earliest of (i) later of either employee's termination of employment or lapse of forfeiture restrictions, (ii) change in control with respect to corporation, or (iii) termination of Plan. Restricted Shares are subject to compete forfeiture until earliest to occur of (i) later of either employee's attainment of age 55 or fifth anniversary of May 31st immediately preceding date on which Restricted Shares were awarded, (ii) retirement of employee on or after attainment of age 65, or (iii) change in control with respect to corporation The Maryland Restricted Stock Plan of RPM, Inc. is an employee benefit program offered by RPM, Inc., a company based in Maryland. This plan is designed to incentivize and reward employees by granting them restricted stock units (RSS) as part of their compensation package. Through the Maryland Restricted Stock Plan, eligible employees of RPM, Inc. are granted a certain number of RSS, which represent ownership in the company. This RSS is "restricted" because they are subject to certain restrictions and vesting schedules, meaning that employees cannot immediately sell or transfer them. Under this plan, employees are typically required to meet certain criteria, such as remaining employed with the company for a specific period of time or achieving predetermined performance goals, in order to fully vest their RSS. Once the RSS have vested, employees can convert them into actual company stocks and, if they choose, sell them on the stock market. The Maryland Restricted Stock Plan of RPM, Inc. offers several advantages to employees. Firstly, it serves as a long-term retention mechanism, encouraging employees to stay with RPM, Inc. and contribute to its growth. Additionally, as the value of the RSS is tied to the company's financial performance, employees have the potential to benefit from any increase in stock value. There may be different variations or types of the Maryland Restricted Stock Plan of RPM, Inc., each tailored to specific employee groups or levels within the organization. These variations might include executive restricted stock plans, which are typically offered to senior executives and may have more generous terms and conditions. Other types could include employee stock purchase plans, where employees can purchase company stocks at a discounted price. In conclusion, the Maryland Restricted Stock Plan of RPM, Inc. is a valuable employee benefit that grants RSS to eligible employees, serving as a retention tool and aligning their financial interest with the company's success. It may offer different iterations such as executive restricted stock plans or employee stock purchase plans.

The Maryland Restricted Stock Plan of RPM, Inc. is an employee benefit program offered by RPM, Inc., a company based in Maryland. This plan is designed to incentivize and reward employees by granting them restricted stock units (RSS) as part of their compensation package. Through the Maryland Restricted Stock Plan, eligible employees of RPM, Inc. are granted a certain number of RSS, which represent ownership in the company. This RSS is "restricted" because they are subject to certain restrictions and vesting schedules, meaning that employees cannot immediately sell or transfer them. Under this plan, employees are typically required to meet certain criteria, such as remaining employed with the company for a specific period of time or achieving predetermined performance goals, in order to fully vest their RSS. Once the RSS have vested, employees can convert them into actual company stocks and, if they choose, sell them on the stock market. The Maryland Restricted Stock Plan of RPM, Inc. offers several advantages to employees. Firstly, it serves as a long-term retention mechanism, encouraging employees to stay with RPM, Inc. and contribute to its growth. Additionally, as the value of the RSS is tied to the company's financial performance, employees have the potential to benefit from any increase in stock value. There may be different variations or types of the Maryland Restricted Stock Plan of RPM, Inc., each tailored to specific employee groups or levels within the organization. These variations might include executive restricted stock plans, which are typically offered to senior executives and may have more generous terms and conditions. Other types could include employee stock purchase plans, where employees can purchase company stocks at a discounted price. In conclusion, the Maryland Restricted Stock Plan of RPM, Inc. is a valuable employee benefit that grants RSS to eligible employees, serving as a retention tool and aligning their financial interest with the company's success. It may offer different iterations such as executive restricted stock plans or employee stock purchase plans.