Mississippi 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 Mississippi Restricted Stock Plan of Bandstand Corp. is a comprehensive employee benefit program offered by the company to its employees in the state of Mississippi. This plan is designed to reward, incentivize, and retain talented employees by providing them with ownership interests in the company's stock, subject to certain restrictions. Under the Mississippi Restricted Stock Plan, employees are granted restricted stock units (RSS) as a form of compensation. RSS represents a promise to deliver a specific number of shares of company stock to the employee at a future date, subject to vesting requirements and other conditions. This RSS provides employees with a tangible ownership stake in the company and align their interests with the long-term success of Bandstand Corp. The plan incorporates various aspects to ensure its effectiveness and legitimacy. Firstly, the RSS granted to employees are subject to a vesting schedule, typically spanning multiple years. This means that employees must fulfill specific criteria, such as remaining with the company for a certain period or meeting performance goals, before they can claim ownership of the RSS. Vesting schedules contribute to employee retention and promote loyalty towards Bandstand Corp. Additionally, the Mississippi Restricted Stock Plan may include specific provisions for the treatment of RSS in the event of certain corporate events, such as mergers, acquisitions, or stock splits. These provisions safeguard the interests of employees and prevent dilution or loss of their ownership rights in such circumstances. It is worth noting that there may be different types or variations of the Mississippi Restricted Stock Plan within Bandstand Corp., tailored to specific employee groups or levels within the organization. For instance, the plan may offer different vesting schedules or eligibility requirements for executives, managers, and regular employees. These variations ensure that the plan is flexible and addresses the diverse needs of the company's workforce. In conclusion, the Mississippi Restricted Stock Plan of Bandstand Corp. is a valuable employee benefit program that grants restricted stock units to eligible employees in Mississippi. By providing employees with an ownership stake in the company, subject to conditions and restrictions, the plan aims to motivate, retain, and align the interests of employees with the long-term success of Bandstand Corp.

The Mississippi Restricted Stock Plan of Bandstand Corp. is a comprehensive employee benefit program offered by the company to its employees in the state of Mississippi. This plan is designed to reward, incentivize, and retain talented employees by providing them with ownership interests in the company's stock, subject to certain restrictions. Under the Mississippi Restricted Stock Plan, employees are granted restricted stock units (RSS) as a form of compensation. RSS represents a promise to deliver a specific number of shares of company stock to the employee at a future date, subject to vesting requirements and other conditions. This RSS provides employees with a tangible ownership stake in the company and align their interests with the long-term success of Bandstand Corp. The plan incorporates various aspects to ensure its effectiveness and legitimacy. Firstly, the RSS granted to employees are subject to a vesting schedule, typically spanning multiple years. This means that employees must fulfill specific criteria, such as remaining with the company for a certain period or meeting performance goals, before they can claim ownership of the RSS. Vesting schedules contribute to employee retention and promote loyalty towards Bandstand Corp. Additionally, the Mississippi Restricted Stock Plan may include specific provisions for the treatment of RSS in the event of certain corporate events, such as mergers, acquisitions, or stock splits. These provisions safeguard the interests of employees and prevent dilution or loss of their ownership rights in such circumstances. It is worth noting that there may be different types or variations of the Mississippi Restricted Stock Plan within Bandstand Corp., tailored to specific employee groups or levels within the organization. For instance, the plan may offer different vesting schedules or eligibility requirements for executives, managers, and regular employees. These variations ensure that the plan is flexible and addresses the diverse needs of the company's workforce. In conclusion, the Mississippi Restricted Stock Plan of Bandstand Corp. is a valuable employee benefit program that grants restricted stock units to eligible employees in Mississippi. By providing employees with an ownership stake in the company, subject to conditions and restrictions, the plan aims to motivate, retain, and align the interests of employees with the long-term success of Bandstand Corp.