Montana Long Term Performance and Restricted Stock Incentive Plan of Ipalco Enterprises, Inc.

• Category: Corporations - Public - Incentive Compensation Plans
• State: Multi-State
• Control #: US-CC-20-174D
• Format: Word; Rich Text

Description

20-174D 20-174D . . . Restricted Stock Incentive Plan under which Compensation Committee selects participants, determines number of shares of common stock covered by each grant, establishes appropriate performance measures, and chooses appropriate corporation peer group. The number of shares granted is equal to a percentage of participant's base salary for first calendar year of each three-year program. The base salary percentage target of first three-year grants range from 10% to 35%; maximum base salary grant permitted by Plan may not exceed 70% of participant's base salary. After end of a Performance Period, Committee determines adjustments, if any, that are required to be made to share grants for Performance Period based on actual results under Performance Measures (performance of corporation versus its peer group) for such Performance Period. After adjustments, restrictions on shares held by participant are lifted as to 1/3 on July 1 immediately following Performance Period and additional 1/3 increments on the first and second anniversaries of such July 1, provided participant is still employed by corporation on such date. If participant ceases to be employed by corporation before restrictions lapse on shares held by him or her, shares still subject to restrictions are immediately forfeited The Montana Long Term Performance and Restricted Stock Incentive Plan is a comprehensive reward system offered by INALCOL Enterprises, Inc., a prominent corporation. This plan aims to motivate and retain employees by providing them with various long-term performance incentives and restricted stock options. Under this plan, employees are eligible to receive rewards based on their performance over an extended period. The plan incorporates different components to cater to diverse employee needs. One of the notable types of the Montana Long Term Performance and Restricted Stock Incentive Plan is the Performance-Based Stock Option. This feature provides employees with the opportunity to purchase company stock at a predetermined price, but only after meeting specific performance targets. This type of incentive aligns the interests of the employees with those of the company, fostering a drive for excellence and long-term growth. Another type of incentive under the plan is the Restricted Stock Unit (RSU). RSS are granted to employees as an additional form of compensation. However, unlike stock options, RSS are not immediately vested or transferable. Instead, they typically have a vesting period during which employees must remain with the company to receive the full stock value. RSS help build a sense of loyalty and accountability among employees, as their stock awards are contingent on continued dedication to the company's success. Moreover, the plan may also offer Performance Units (Pus) or Performance Share Units (Plus) as part of the reward system. These units represent hypothetical or real shares that employees earn based on predetermined performance measures. The value of Pus or Plus is determined by the company's stock price or other financial metrics, thus linking them closely to the company's overall performance. The Montana Long Term Performance and Restricted Stock Incentive Plan is designed to attract and retain exceptional employees, encouraging them to stay with INALCOL Enterprises, Inc. for an extended period. By offering a variety of performance-based incentives and restricted stock options, the plan aims to align employee and shareholder interests while fostering a culture of excellence and dedication.

The Montana Long Term Performance and Restricted Stock Incentive Plan is a comprehensive reward system offered by INALCOL Enterprises, Inc., a prominent corporation. This plan aims to motivate and retain employees by providing them with various long-term performance incentives and restricted stock options. Under this plan, employees are eligible to receive rewards based on their performance over an extended period. The plan incorporates different components to cater to diverse employee needs. One of the notable types of the Montana Long Term Performance and Restricted Stock Incentive Plan is the Performance-Based Stock Option. This feature provides employees with the opportunity to purchase company stock at a predetermined price, but only after meeting specific performance targets. This type of incentive aligns the interests of the employees with those of the company, fostering a drive for excellence and long-term growth. Another type of incentive under the plan is the Restricted Stock Unit (RSU). RSS are granted to employees as an additional form of compensation. However, unlike stock options, RSS are not immediately vested or transferable. Instead, they typically have a vesting period during which employees must remain with the company to receive the full stock value. RSS help build a sense of loyalty and accountability among employees, as their stock awards are contingent on continued dedication to the company's success. Moreover, the plan may also offer Performance Units (Pus) or Performance Share Units (Plus) as part of the reward system. These units represent hypothetical or real shares that employees earn based on predetermined performance measures. The value of Pus or Plus is determined by the company's stock price or other financial metrics, thus linking them closely to the company's overall performance. The Montana Long Term Performance and Restricted Stock Incentive Plan is designed to attract and retain exceptional employees, encouraging them to stay with INALCOL Enterprises, Inc. for an extended period. By offering a variety of performance-based incentives and restricted stock options, the plan aims to align employee and shareholder interests while fostering a culture of excellence and dedication.