Mississippi Book Value Phantom Stock Plan of First Florida Banks, Inc.

• Category: Corporations - Public - Incentive Compensation Plans
• State: Multi-State
• Control #: US-CC-20-162A
• Format: Word; Rich Text

Description

20-162A 20-162A . . . Book Value Phantom Stock Plan under which Committee of Board of Directors may, from time to time, grant quantity of phantom shares to selected employees, each share being equivalent to one share of corporation common stock. Phantom shares may be exercised at any time within ten years of date of grant (subject to certain limitations in event of termination of employment) Upon exercise, employee is paid cash equal to increase in underlying net book value per share on fully diluted basis of shares between date of grant and date of exercise The Mississippi Book Value Phantom Stock Plan is a unique executive compensation program offered by First Florida Banks, Inc. It allows eligible participants to receive hypothetical shares of phantom stock that mirror the book value of the company's common stock. This plan is designed to incentivize and reward executives for their contributions to the long-term growth and success of the organization. Under the Mississippi Book Value Phantom Stock Plan, participants are granted virtual or phantom stock units based on a predetermined formula tied to the book value per share of First Florida Banks, Inc. Participants do not actually own shares of the company but are entitled to receive cash payments equivalent to the appreciation in the book value of the stock during the plan's duration. The plan's structure provides participants with a financial stake in the company's performance and aligns their interests with those of the shareholders. By tying the payout to the book value of the stock, the plan encourages executives to focus on enhancing the company's financial health and maximizing shareholder value. Different variations of the Mississippi Book Value Phantom Stock Plan may exist within First Florida Banks, Inc., tailored to accommodate the specific needs and objectives of different executive roles or levels within the organization. These variations might include: 1. Mississippi Book Value Phantom Stock Plan for Senior Executives: This plan may be designed exclusively for senior-level executives who play a critical role in shaping the company's strategic direction and performance. It may offer enhanced benefits and incentives to retain and motivate top talent. 2. Mississippi Book Value Phantom Stock Plan for Mid-Level Executives: This plan may be offered to mid-level executives who are responsible for managing key departments or divisions. It aims to reward their contributions to the company's growth and provide them with long-term incentives. 3. Mississippi Book Value Phantom Stock Plan for Emerging Leaders: This plan can be tailored for high-potential employees who are being groomed for future leadership positions within First Florida Banks, Inc. It helps attract and retain promising talent by offering them the opportunity to earn phantom stock units based on their performance and potential. In conclusion, the Mississippi Book Value Phantom Stock Plan of First Florida Banks, Inc. is a comprehensive executive compensation program designed to reward and incentivize executives based on the book value per share. It aligns their interests with those of the shareholders and promotes long-term growth and success for the organization.

The Mississippi Book Value Phantom Stock Plan is a unique executive compensation program offered by First Florida Banks, Inc. It allows eligible participants to receive hypothetical shares of phantom stock that mirror the book value of the company's common stock. This plan is designed to incentivize and reward executives for their contributions to the long-term growth and success of the organization. Under the Mississippi Book Value Phantom Stock Plan, participants are granted virtual or phantom stock units based on a predetermined formula tied to the book value per share of First Florida Banks, Inc. Participants do not actually own shares of the company but are entitled to receive cash payments equivalent to the appreciation in the book value of the stock during the plan's duration. The plan's structure provides participants with a financial stake in the company's performance and aligns their interests with those of the shareholders. By tying the payout to the book value of the stock, the plan encourages executives to focus on enhancing the company's financial health and maximizing shareholder value. Different variations of the Mississippi Book Value Phantom Stock Plan may exist within First Florida Banks, Inc., tailored to accommodate the specific needs and objectives of different executive roles or levels within the organization. These variations might include: 1. Mississippi Book Value Phantom Stock Plan for Senior Executives: This plan may be designed exclusively for senior-level executives who play a critical role in shaping the company's strategic direction and performance. It may offer enhanced benefits and incentives to retain and motivate top talent. 2. Mississippi Book Value Phantom Stock Plan for Mid-Level Executives: This plan may be offered to mid-level executives who are responsible for managing key departments or divisions. It aims to reward their contributions to the company's growth and provide them with long-term incentives. 3. Mississippi Book Value Phantom Stock Plan for Emerging Leaders: This plan can be tailored for high-potential employees who are being groomed for future leadership positions within First Florida Banks, Inc. It helps attract and retain promising talent by offering them the opportunity to earn phantom stock units based on their performance and potential. In conclusion, the Mississippi Book Value Phantom Stock Plan of First Florida Banks, Inc. is a comprehensive executive compensation program designed to reward and incentivize executives based on the book value per share. It aligns their interests with those of the shareholders and promotes long-term growth and success for the organization.