Minnesota Restricted Stock Plan of Guilford Mills, Inc.

• Category: Corporations - Public - Incentive Compensation Plans
• State: Multi-State
• Control #: US-CC-20-170A
• Format: Word; Rich Text

Description

20-170A 20-170A . . . Restricted Stock Plan under which Compensation Committee grants awards of shares of common stock in accordance with terms and conditions set forth in agreement between corporation and participant. Each Stock Agreement contains such individual and corporate performance goals, restrictions, terms and conditions as Compensation Committee may require including price, if any, which participant shall be required to pay for shares The Minnesota Restricted Stock Plan is a comprehensive compensation program implemented by Guilford Mills, Inc., a leading textile manufacturer headquartered in Minnesota. This plan primarily focuses on providing incentives to employees through the allocation of restricted stock units (RSS) that are subject to certain restrictions and conditions. Under this plan, eligible employees of Guilford Mills in Minnesota are granted RSS, which represent a specified number of company shares. The RSS are typically awarded as part of an employee's compensation package and are granted at a predetermined price or market value. However, these shares cannot be immediately sold or transferred by the employee due to the imposed restrictions. One type of Minnesota Restricted Stock Plan offered by Guilford Mills, Inc. is the Vesting Schedule RSU. This type of RSU allows employees to gradually acquire ownership of shares over a specific period, typically through a vesting schedule. As the employee fulfills certain time-based milestones or meets specified performance criteria, the restrictions on the RSS are lifted, enabling the employee to fully own and sell the acquired shares. Another type of Restricted Stock Plan is the Performance-Based RSU. This form of RSU grants employees shares based on the achievement of predetermined performance targets, such as meeting sales goals, revenue growth, or improving operational efficiency. The number of RSS awarded varies according to the level of achievement, motivating employees to strive for enhanced performance and contribute to the company's success. The Minnesota Restricted Stock Plan is designed to encourage employee retention, boost motivation, and align employees' interests with the long-term success of Guilford Mills, Inc. By distributing RSS, Guilford Mills aims to create a sense of ownership, loyalty, and recognition among their employees. Participating employees have the opportunity to share in the company's financial growth and success with potential capital gains from the appreciation of the awarded shares. It is important to note that the particulars of the Minnesota Restricted Stock Plan of Guilford Mills, Inc. may vary depending on individual agreements, job roles, employment terms, and relevant legal or regulatory requirements. Employees should refer to the specific plan documents and consult with human resources or a financial advisor to understand the exact details, terms, and conditions associated with their participation in the plan.

The Minnesota Restricted Stock Plan is a comprehensive compensation program implemented by Guilford Mills, Inc., a leading textile manufacturer headquartered in Minnesota. This plan primarily focuses on providing incentives to employees through the allocation of restricted stock units (RSS) that are subject to certain restrictions and conditions. Under this plan, eligible employees of Guilford Mills in Minnesota are granted RSS, which represent a specified number of company shares. The RSS are typically awarded as part of an employee's compensation package and are granted at a predetermined price or market value. However, these shares cannot be immediately sold or transferred by the employee due to the imposed restrictions. One type of Minnesota Restricted Stock Plan offered by Guilford Mills, Inc. is the Vesting Schedule RSU. This type of RSU allows employees to gradually acquire ownership of shares over a specific period, typically through a vesting schedule. As the employee fulfills certain time-based milestones or meets specified performance criteria, the restrictions on the RSS are lifted, enabling the employee to fully own and sell the acquired shares. Another type of Restricted Stock Plan is the Performance-Based RSU. This form of RSU grants employees shares based on the achievement of predetermined performance targets, such as meeting sales goals, revenue growth, or improving operational efficiency. The number of RSS awarded varies according to the level of achievement, motivating employees to strive for enhanced performance and contribute to the company's success. The Minnesota Restricted Stock Plan is designed to encourage employee retention, boost motivation, and align employees' interests with the long-term success of Guilford Mills, Inc. By distributing RSS, Guilford Mills aims to create a sense of ownership, loyalty, and recognition among their employees. Participating employees have the opportunity to share in the company's financial growth and success with potential capital gains from the appreciation of the awarded shares. It is important to note that the particulars of the Minnesota Restricted Stock Plan of Guilford Mills, Inc. may vary depending on individual agreements, job roles, employment terms, and relevant legal or regulatory requirements. Employees should refer to the specific plan documents and consult with human resources or a financial advisor to understand the exact details, terms, and conditions associated with their participation in the plan.