North Carolina Management Long Term Incentive Compensation Plan of of SCEcorp

• Category: Corporations - Public - Incentive Compensation Plans
• State: Multi-State
• Control #: US-CC-18-268B
• Format: Word; Rich Text

Description

18-268B 18-268B . . . Management 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 Management Long Term Incentive Compensation Plan of Suncorp is an executive compensation program specifically designed for top-level management professionals operating within the state of North Carolina. This plan aims to provide attractive incentives and rewards to motivate and retain talented individuals, aligning their interests with the long-term success of Suncorp. The program comprises various types of compensation plans, each tailored to specific managerial roles within Suncorp. These plans include: 1. Performance-based Stock Options: This type of plan grants eligible managers the right to purchase Suncorp company stock at a predetermined price during a specified period. The number of stock options awarded is determined by the executive's performance and achievement of predetermined financial or operational targets. 2. Restricted Stock Units (RSS): With RSS, participating managers are granted a specified number of Suncorp company shares, subject to certain vesting conditions. These conditions typically include the passage of a predetermined period or the attainment of specific performance targets. 3. Cash Bonuses: Managers enrolled in this plan have the opportunity to earn annual cash bonuses based on key performance indicators (KPIs) or other predefined benchmarks. The bonus amount is usually determined by a combination of individual, team, and company-wide performance. 4. Performance Share Units (Plus): This type of plan awards managers with a specified number of share units that convert into actual shares upon the attainment of predetermined performance targets. These targets may include financial milestones, market share growth, or other strategic objectives. 5. Phantom Stock Units (Plus): In this plan, eligible managers receive notional units representing Suncorp company shares. The value of these units is tied to the future performance and stock price of the company. At a predetermined event, such as retirement or a change in control, managers receive a cash payment equivalent to the value of the accumulated units. The North Carolina Management Long Term Incentive Compensation Plan of Suncorp operates within the legal and regulatory frameworks applicable to executive compensation, ensuring compliance with state and federal laws. It is designed to attract, motivate, and retain top managerial talent, while also aligning their interests with the long-term success and shareholder value creation of the company.

The North Carolina Management Long Term Incentive Compensation Plan of Suncorp is an executive compensation program specifically designed for top-level management professionals operating within the state of North Carolina. This plan aims to provide attractive incentives and rewards to motivate and retain talented individuals, aligning their interests with the long-term success of Suncorp. The program comprises various types of compensation plans, each tailored to specific managerial roles within Suncorp. These plans include: 1. Performance-based Stock Options: This type of plan grants eligible managers the right to purchase Suncorp company stock at a predetermined price during a specified period. The number of stock options awarded is determined by the executive's performance and achievement of predetermined financial or operational targets. 2. Restricted Stock Units (RSS): With RSS, participating managers are granted a specified number of Suncorp company shares, subject to certain vesting conditions. These conditions typically include the passage of a predetermined period or the attainment of specific performance targets. 3. Cash Bonuses: Managers enrolled in this plan have the opportunity to earn annual cash bonuses based on key performance indicators (KPIs) or other predefined benchmarks. The bonus amount is usually determined by a combination of individual, team, and company-wide performance. 4. Performance Share Units (Plus): This type of plan awards managers with a specified number of share units that convert into actual shares upon the attainment of predetermined performance targets. These targets may include financial milestones, market share growth, or other strategic objectives. 5. Phantom Stock Units (Plus): In this plan, eligible managers receive notional units representing Suncorp company shares. The value of these units is tied to the future performance and stock price of the company. At a predetermined event, such as retirement or a change in control, managers receive a cash payment equivalent to the value of the accumulated units. The North Carolina Management Long Term Incentive Compensation Plan of Suncorp operates within the legal and regulatory frameworks applicable to executive compensation, ensuring compliance with state and federal laws. It is designed to attract, motivate, and retain top managerial talent, while also aligning their interests with the long-term success and shareholder value creation of the company.