North Carolina Officer Long Term Incentive Compensation Plan for Southern California Edison Co.

• Category: Corporations - Public - Incentive Compensation Plans
• State: Multi-State
• Control #: US-CC-18-266C
• Format: Word; Rich Text

Description

18-266C 18-266C . . . Officer Long Term Incentive Compensation Plan under which compensation committee can grant (i) stock appreciation equivalents (hypothetical stock "units" which are granted to participant and upon which value of any incentive award is calculated), (ii) dividend equivalents (which represent value of dividends per share paid by corporation, calculated upon stock or stock units held by participant and which, if objectives set by committee are met, are paid to participant), (iii) Non-qualified Stock Options, (iv) incentive stock options, (v) restricted stock, (vi) stock appreciation rights, and (vii) performance awards The North Carolina Officer Long-Term Incentive Compensation Plan is designed specifically for executives and officers employed by Southern California Edison Co. This plan aims to provide long-term incentives and rewards to motivate and retain top talent within the organization. With its focus on performance-based compensation, the North Carolina Officer Long-Term Incentive Compensation Plan ensures that executives are rewarded for their contributions to the company's growth and success. The plan incorporates various types of incentives and benefits to align the interests of the officers with the long-term strategic objectives of Southern California Edison Co. Some key components of this plan include: 1. Performance Share Units (Plus): These are performance-based awards granted to officers that are tied to the company's financial performance, operational goals, and individual objectives. Officers receive a specific number of pluses, which convert into stock upon achieving predetermined targets over a defined performance period, usually multiple years. 2. Restricted Stock Units (RSS): RSS represent the right to receive a specific number of shares of Southern California Edison Co. stock at a predetermined future date. RSS usually vest over time or based on specific performance criteria, encouraging officers to remain with the company. 3. Stock Options: Stock options grant officers the right to purchase a specific number of shares of Southern California Edison Co. stock at a predetermined price (the exercise price) within a specified period. These options provide officers with the opportunity to benefit from share price appreciation if the stock price exceeds the exercise price during the option's lifespan. 4. Cash Performance Incentive Awards: In addition to stock-based incentives, officers may also be eligible for cash performance incentive awards based on achieving specific performance targets. These awards are typically tied to the company's financial and operational performance metrics and can be granted annually or over a multi-year period. It is important to note that the specific details and terms of the North Carolina Officer Long-Term Incentive Compensation Plan may vary for different executives based on their roles, responsibilities, and individual performance. Southern California Edison Co. designs these plans to provide competitive, market-driven compensation packages to attract and retain top talent, ensuring the company remains an industry leader in the evolving energy sector.

The North Carolina Officer Long-Term Incentive Compensation Plan is designed specifically for executives and officers employed by Southern California Edison Co. This plan aims to provide long-term incentives and rewards to motivate and retain top talent within the organization. With its focus on performance-based compensation, the North Carolina Officer Long-Term Incentive Compensation Plan ensures that executives are rewarded for their contributions to the company's growth and success. The plan incorporates various types of incentives and benefits to align the interests of the officers with the long-term strategic objectives of Southern California Edison Co. Some key components of this plan include: 1. Performance Share Units (Plus): These are performance-based awards granted to officers that are tied to the company's financial performance, operational goals, and individual objectives. Officers receive a specific number of pluses, which convert into stock upon achieving predetermined targets over a defined performance period, usually multiple years. 2. Restricted Stock Units (RSS): RSS represent the right to receive a specific number of shares of Southern California Edison Co. stock at a predetermined future date. RSS usually vest over time or based on specific performance criteria, encouraging officers to remain with the company. 3. Stock Options: Stock options grant officers the right to purchase a specific number of shares of Southern California Edison Co. stock at a predetermined price (the exercise price) within a specified period. These options provide officers with the opportunity to benefit from share price appreciation if the stock price exceeds the exercise price during the option's lifespan. 4. Cash Performance Incentive Awards: In addition to stock-based incentives, officers may also be eligible for cash performance incentive awards based on achieving specific performance targets. These awards are typically tied to the company's financial and operational performance metrics and can be granted annually or over a multi-year period. It is important to note that the specific details and terms of the North Carolina Officer Long-Term Incentive Compensation Plan may vary for different executives based on their roles, responsibilities, and individual performance. Southern California Edison Co. designs these plans to provide competitive, market-driven compensation packages to attract and retain top talent, ensuring the company remains an industry leader in the evolving energy sector.