Minnesota Director stock program

State:
Multi-State
Control #:
US-CC-18-172
Format:
Word; 
Rich Text
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Description

18-172 18-172 . . Director Stock Program which provides that, on first day of director's term, such director will be granted option to acquire 900 shares of common stock, and on first day of each subsequent year of director's term, he or she will be granted options to acquire 300 shares of common stock. Options are at fair market value on date of grant and are exercisable in full six months after date of grant. The Director Stock Program also provides that, on first day of director's term, he or she will be awarded right to purchase 450 shares of restricted stock, and on first day of the second and third year of such director's term, he or she will be awarded right to purchase 150 shares of restricted stock. Purchase price will be equal to par value of common stock
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FAQ

The rebate checks were the result of a $3 billion tax relief bill passed earlier this summer. Minnesota Gov. Tim Walz has already signed the massive legislation, which also includes a state child tax credit worth up to $1,750 per child dependent.

If your state agency requires MMB employee assistance with its deposits, employees are available during the following hours of operation: Hours: 9 a.m. to noon and 2 to p.m. Monday through Friday. Contact: 651-259-3769.

As a central service agency, MMB serves the governor, the legislature, more than 100 state government entities, 56,000 state employees, and the public. MMB has approximately 275 employees. Its annual general fund operating budget is approximately $30 million.

Minnesota Management and Budget (MMB) plays a key role in that effort, providing essential, centralized services that are foundational to state government operations and to sound, transparent management of state employee and financial resources.

The combined surplus is now slightly more than $2.4 billion. That's just a small fraction of the current budget of $72 billion, but it means lawmakers will return to St. Paul in February with more money to spend on government programs, cutting taxes or leaving in the bank than they originally expected.

Minnesota Management & Budget (MMB) is responsible for managing state finances, payroll and human resources, and providing systems for daily business operations and information access and analysis.

The average State of Minnesota salary ranges from approximately $48,897 per year for Recreation Therapist to $117,924 per year for Regional Director. Average State of Minnesota hourly pay ranges from approximately $18.84 per hour for Van Driver to $69.82 per hour for CT Technologist.

Minnesota Management and Budget (MMB) is responsible for managing state finances, payroll, and human resources.

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Minnesota Director stock program