North Carolina Long Term Incentive Program for Senior Management

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

Description

20-162L 20-162L . . . Long Term Incentive Program For Senior Management under which Compensation Committee may award (a) stock appreciation rights and (b) performance share units. Performance share units entitle holder to receive cash payment equal to (i) average market price of one share of corporation common stock during December ("Measuring Month") in third calendar year following year in which award is made, plus (ii) aggregate dividends with respect to one share of corporation common stock from January 1 of year in which award is made until last day of Measuring Month. At maturity, number of units initially awarded shall be (i) multiplied by fraction that corresponds to average annual percentage increase or decrease in book value per share of corporation common stock over four year period prior to maturity, and (ii) then further adjusted based on ratio of market value of corporation common stock to its book value as compared to that of comparable electric utility companies The North Carolina Long Term Incentive Program for Senior Management is a comprehensive program designed to incentivize and reward senior executives for their long-term commitment and success in driving the growth and profitability of their organizations. This program aims to motivate senior management to consistently perform at their best, aligning their interests with the long-term goals of the company while ensuring their retention and continuous professional development. One type of the North Carolina Long Term Incentive Program for Senior Management is the Equity-Based Incentive Plan. This plan provides senior executives with an opportunity to acquire ownership in the company through the grant of stock options, restricted stock or performance shares. These equity-based incentives drive the executives' focus on improving the company's stock price, promoting strategic decision-making, and maximizing shareholders' value in the long run. Another type of program is the Cash-Based Incentive Plan. This plan offers senior management a cash bonus or performance-based rewards tied to achieving specific financial or strategic targets over an extended period. These incentives align the executives' efforts with the company's strategic objectives, fostering a sense of responsibility and accountability for their decision-making, ultimately leading to sustained growth and profitability. Furthermore, the North Carolina Deferred Compensation Program for Senior Management is also included in this long-term incentive program. This program allows senior executives to defer a portion of their compensation, which is then invested on a tax-deferred basis until a specified future date. This deferred compensation helps senior management build wealth over time and provides a supplementary retirement benefit, further motivating their dedication and long-term commitment to the organization's success. The North Carolina Long Term Incentive Program for Senior Management acknowledges the critical role that senior executives play in driving organizational performance and aims to attract, retain, and reward top talent. By offering a range of equity-based and cash-based incentives, as well as deferred compensation options, this program ensures that senior management remains focused on long-term growth, profitability, and the overall success of the company.

The North Carolina Long Term Incentive Program for Senior Management is a comprehensive program designed to incentivize and reward senior executives for their long-term commitment and success in driving the growth and profitability of their organizations. This program aims to motivate senior management to consistently perform at their best, aligning their interests with the long-term goals of the company while ensuring their retention and continuous professional development. One type of the North Carolina Long Term Incentive Program for Senior Management is the Equity-Based Incentive Plan. This plan provides senior executives with an opportunity to acquire ownership in the company through the grant of stock options, restricted stock or performance shares. These equity-based incentives drive the executives' focus on improving the company's stock price, promoting strategic decision-making, and maximizing shareholders' value in the long run. Another type of program is the Cash-Based Incentive Plan. This plan offers senior management a cash bonus or performance-based rewards tied to achieving specific financial or strategic targets over an extended period. These incentives align the executives' efforts with the company's strategic objectives, fostering a sense of responsibility and accountability for their decision-making, ultimately leading to sustained growth and profitability. Furthermore, the North Carolina Deferred Compensation Program for Senior Management is also included in this long-term incentive program. This program allows senior executives to defer a portion of their compensation, which is then invested on a tax-deferred basis until a specified future date. This deferred compensation helps senior management build wealth over time and provides a supplementary retirement benefit, further motivating their dedication and long-term commitment to the organization's success. The North Carolina Long Term Incentive Program for Senior Management acknowledges the critical role that senior executives play in driving organizational performance and aims to attract, retain, and reward top talent. By offering a range of equity-based and cash-based incentives, as well as deferred compensation options, this program ensures that senior management remains focused on long-term growth, profitability, and the overall success of the company.