Michigan 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 Michigan Restricted Stock Plan of RPM, Inc. is a comprehensive equity compensation program designed to reward and incentivize employees of RPM, Inc., a leading company in Michigan. This plan offers employees the opportunity to acquire company stock through restricted stock units (RSS) under certain conditions. Under the Michigan Restricted Stock Plan, eligible employees receive a pre-determined number of RSS, which represent a promise to deliver a specific number of shares of RPM, Inc. stock at a future date. However, this RSS come with certain restrictions and vesting schedules, ensuring that employees stay with the company for a specified duration to fully benefit from the plan. One type of Michigan Restricted Stock Plan is the time-based vesting plan. In this type, employees receive RSS that vest over a specific period, typically ranging from three to five years. As time passes, a predetermined portion of the RSS becomes fully vested, granting employees ownership of the corresponding shares of RPM, Inc. stock. In addition to time-based vesting, another type of Michigan Restricted Stock Plan is performance-based vesting. This plan ties the vesting of RSS to the achievement of specific performance goals and objectives set by RPM, Inc. These goals can include factors like revenue targets, market share growth, or individual performance metrics, ensuring that employees' rewards are directly linked to the company's success. It's worth noting that the Michigan Restricted Stock Plan may have different variations and modifications within the framework offered by RPM, Inc. Factors like the employee's position, tenure, and level within the organization can play a role in determining the specifics of the plan they are eligible for. Overall, the Michigan Restricted Stock Plan of RPM, Inc. serves as a powerful tool to motivate and retain employees, aligning their interests with the long-term success of the company. By granting company stock through RSS, employees have a vested interest in driving RPM, Inc.'s performance, fostering a culture of shared success and collective growth within the organization.

The Michigan Restricted Stock Plan of RPM, Inc. is a comprehensive equity compensation program designed to reward and incentivize employees of RPM, Inc., a leading company in Michigan. This plan offers employees the opportunity to acquire company stock through restricted stock units (RSS) under certain conditions. Under the Michigan Restricted Stock Plan, eligible employees receive a pre-determined number of RSS, which represent a promise to deliver a specific number of shares of RPM, Inc. stock at a future date. However, this RSS come with certain restrictions and vesting schedules, ensuring that employees stay with the company for a specified duration to fully benefit from the plan. One type of Michigan Restricted Stock Plan is the time-based vesting plan. In this type, employees receive RSS that vest over a specific period, typically ranging from three to five years. As time passes, a predetermined portion of the RSS becomes fully vested, granting employees ownership of the corresponding shares of RPM, Inc. stock. In addition to time-based vesting, another type of Michigan Restricted Stock Plan is performance-based vesting. This plan ties the vesting of RSS to the achievement of specific performance goals and objectives set by RPM, Inc. These goals can include factors like revenue targets, market share growth, or individual performance metrics, ensuring that employees' rewards are directly linked to the company's success. It's worth noting that the Michigan Restricted Stock Plan may have different variations and modifications within the framework offered by RPM, Inc. Factors like the employee's position, tenure, and level within the organization can play a role in determining the specifics of the plan they are eligible for. Overall, the Michigan Restricted Stock Plan of RPM, Inc. serves as a powerful tool to motivate and retain employees, aligning their interests with the long-term success of the company. By granting company stock through RSS, employees have a vested interest in driving RPM, Inc.'s performance, fostering a culture of shared success and collective growth within the organization.