Michigan Long Term Incentive Compensation Plan of A.M. Castle and Co.

• Category: Corporations - Public - Incentive Compensation Plans
• State: Multi-State
• Control #: US-CC-20-181
• Format: Word; Rich Text

Description

20-181 20-181 . . . Long Term Incentive Compensation Plan under which Human Resources Committee designates employees who will be participants in Plan and establishes Maximum Award Percentage with respect to each participant for each three year performance cycle. Each participant is entitled to a Performance Award if annual compounded total return (based upon stock appreciation and deemed reinvestment of dividends) on corporation common stock for that performance cycle equals or exceeds 1.5% plus annual compounded total return on common stock of Standard & Poor's 500 Industrials for such period. A participant's Performance Award for a performance cycle is amount equal to product of (a) participant's base salary multiplied by (b) his Maximum Award Percentage multiplied by (c) applicable Attainment Percentage for that performance cycle The Michigan Long-Term Incentive Compensation Plan offered by A.M. Castle and Co. is a comprehensive program designed to incentivize and reward eligible employees based on their long-term performance and commitment to the company's success. This plan aims to attract top talent, retain key employees, and align their interests with those of the company's shareholders. Comprising various components, the Michigan Long-Term Incentive Compensation Plan offers employees a valuable opportunity to participate in the company's growth and profitability. One type of the Michigan Long-Term Incentive Compensation Plan is the Performance Share Units (Plus). In this scheme, eligible employees are granted a specific number of pluses, which represent an ownership stake in the company. The value of these units is tied to the company's stock price, ensuring that employees directly benefit from the organization's performance. Another type of the plan is the Restricted Stock Units (RSS). Under this scheme, employees are granted a certain number of RSS, entitling them to receive company shares at a predetermined future date. These units vest over a specific period, promoting employee retention and long-term commitment to the organization. Furthermore, the Michigan Long-Term Incentive Compensation Plan may also include Stock Options. This type of incentive allows employees to purchase company shares at a predetermined price, known as the exercise price, within a specified timeframe. As the stock price rises, employees can profitably exercise their options, thereby linking their success to the company's growth. To ensure the effectiveness and integrity of the program, the Michigan Long-Term Incentive Compensation Plan is subject to certain performance criteria, including financial goals, operational targets, or individual performance benchmarks. These metrics provide a transparent and objective way to assess employee contributions and determine incentive payouts. Employees participating in the Michigan Long-Term Incentive Compensation Plan are provided with regular updates and statements regarding their vested and invested awards. Communication and education initiatives are undertaken to ensure employees understand the plan's mechanics, benefits, and the company's objectives and encourage their active engagement. In summary, the Michigan Long-Term Incentive Compensation Plan of A.M. Castle and Co. offers eligible employees an opportunity to gain financial rewards based on their long-term performance and commitment to the company's success. With various components like Performance Share Units, Restricted Stock Units, and Stock Options, this comprehensive plan aligns employee interests with those of the company's shareholders, fostering loyalty, and driving long-term sustainable growth.

The Michigan Long-Term Incentive Compensation Plan offered by A.M. Castle and Co. is a comprehensive program designed to incentivize and reward eligible employees based on their long-term performance and commitment to the company's success. This plan aims to attract top talent, retain key employees, and align their interests with those of the company's shareholders. Comprising various components, the Michigan Long-Term Incentive Compensation Plan offers employees a valuable opportunity to participate in the company's growth and profitability. One type of the Michigan Long-Term Incentive Compensation Plan is the Performance Share Units (Plus). In this scheme, eligible employees are granted a specific number of pluses, which represent an ownership stake in the company. The value of these units is tied to the company's stock price, ensuring that employees directly benefit from the organization's performance. Another type of the plan is the Restricted Stock Units (RSS). Under this scheme, employees are granted a certain number of RSS, entitling them to receive company shares at a predetermined future date. These units vest over a specific period, promoting employee retention and long-term commitment to the organization. Furthermore, the Michigan Long-Term Incentive Compensation Plan may also include Stock Options. This type of incentive allows employees to purchase company shares at a predetermined price, known as the exercise price, within a specified timeframe. As the stock price rises, employees can profitably exercise their options, thereby linking their success to the company's growth. To ensure the effectiveness and integrity of the program, the Michigan Long-Term Incentive Compensation Plan is subject to certain performance criteria, including financial goals, operational targets, or individual performance benchmarks. These metrics provide a transparent and objective way to assess employee contributions and determine incentive payouts. Employees participating in the Michigan Long-Term Incentive Compensation Plan are provided with regular updates and statements regarding their vested and invested awards. Communication and education initiatives are undertaken to ensure employees understand the plan's mechanics, benefits, and the company's objectives and encourage their active engagement. In summary, the Michigan Long-Term Incentive Compensation Plan of A.M. Castle and Co. offers eligible employees an opportunity to gain financial rewards based on their long-term performance and commitment to the company's success. With various components like Performance Share Units, Restricted Stock Units, and Stock Options, this comprehensive plan aligns employee interests with those of the company's shareholders, fostering loyalty, and driving long-term sustainable growth.