Missouri Restricted Stock Plan of Sundstrand Corp.

• Category: Corporations - Public - Incentive Compensation Plans
• State: Multi-State
• Control #: US-CC-20-171D
• Format: Word; Rich Text

Description

20-171D 20-171D . . . Restricted Stock Plan under which a committee of Board of Directors sells shares of common stock to certain officers and senior employees at a price substantially below current market price. The shares are subject to following restrictions: (a) prohibition against any sale or other transfer and (b) obligation that participant (at corporation's option) must resell shares to corporation at price he paid for them if he ceases to be employed by corporation prior to expiration of from five to nine years after shares were sold to him, for reasons other than normal retirement, death, total disability or early retirement with consent of Board or committee. Except as otherwise provided, restrictions lapse as to 1/5 of aggregate number of participant's shares at expiration or each of fifth through ninth years after his purchase of such shares The Missouri Restricted Stock Plan offered by Bandstand Corp. is a comprehensive employee compensation and retention program designed to reward and retain key employees of the company. The plan is specifically tailored to the requirements of employees based in the state of Missouri, adhering to the applicable laws and regulations governing stock-based compensation in the region. Under the Missouri Restricted Stock Plan, qualified employees are granted restricted stock units (RSS) as a part of their overall compensation package. This RSS represents a specific number of shares of Bandstand Corp. common stock and are subject to various restrictions and conditions, which are outlined in the plan document. Employees who participate in this program are granted the RSS as a form of long-term incentive, helping to align their interests with those of the company's shareholders. The RSS typically vest over a predetermined period, usually subject to the employee's continued service with the company. Once the RSS have vested, employees are entitled to receive the shares of common stock underlying the RSS. The Missouri Restricted Stock Plan of Bandstand Corp. aims to create a sense of ownership and promote the long-term success of the company by aligning the interests of employees with those of the shareholders. By granting RSS, the plan encourages employees to contribute to the company's growth and profitability, as the value of the RSS is tied to the performance of Bandstand Corp. It is important to note that there may be different types of Missouri Restricted Stock Plans offered by Bandstand Corp., tailored to the needs of different employee groups or levels within the organization. These variations may include Executive Restricted Stock Plans, Management Restricted Stock Plans, and Employee Restricted Stock Plans. Each type of plan may have specific eligibility criteria, vesting schedules, and conditions related to the grant and exercise of the RSS. Overall, the Missouri Restricted Stock Plan of Bandstand Corp. serves as an essential tool for attracting and retaining talented employees in the state, while aligning their interests with the long-term success of the company. By offering RSS, Bandstand Corp. reinforces its commitment to rewarding and motivating employees, which ultimately contributes to the overall growth and profitability of the organization.

The Missouri Restricted Stock Plan offered by Bandstand Corp. is a comprehensive employee compensation and retention program designed to reward and retain key employees of the company. The plan is specifically tailored to the requirements of employees based in the state of Missouri, adhering to the applicable laws and regulations governing stock-based compensation in the region. Under the Missouri Restricted Stock Plan, qualified employees are granted restricted stock units (RSS) as a part of their overall compensation package. This RSS represents a specific number of shares of Bandstand Corp. common stock and are subject to various restrictions and conditions, which are outlined in the plan document. Employees who participate in this program are granted the RSS as a form of long-term incentive, helping to align their interests with those of the company's shareholders. The RSS typically vest over a predetermined period, usually subject to the employee's continued service with the company. Once the RSS have vested, employees are entitled to receive the shares of common stock underlying the RSS. The Missouri Restricted Stock Plan of Bandstand Corp. aims to create a sense of ownership and promote the long-term success of the company by aligning the interests of employees with those of the shareholders. By granting RSS, the plan encourages employees to contribute to the company's growth and profitability, as the value of the RSS is tied to the performance of Bandstand Corp. It is important to note that there may be different types of Missouri Restricted Stock Plans offered by Bandstand Corp., tailored to the needs of different employee groups or levels within the organization. These variations may include Executive Restricted Stock Plans, Management Restricted Stock Plans, and Employee Restricted Stock Plans. Each type of plan may have specific eligibility criteria, vesting schedules, and conditions related to the grant and exercise of the RSS. Overall, the Missouri Restricted Stock Plan of Bandstand Corp. serves as an essential tool for attracting and retaining talented employees in the state, while aligning their interests with the long-term success of the company. By offering RSS, Bandstand Corp. reinforces its commitment to rewarding and motivating employees, which ultimately contributes to the overall growth and profitability of the organization.