North Carolina Restricted Stock Plan of Guilford Mills, Inc.

• Category: Corporations - Public - Incentive Compensation Plans
• State: Multi-State
• Control #: US-CC-20-170A
• Format: Word; Rich Text

Description

20-170A 20-170A . . . Restricted Stock Plan under which Compensation Committee grants awards of shares of common stock in accordance with terms and conditions set forth in agreement between corporation and participant. Each Stock Agreement contains such individual and corporate performance goals, restrictions, terms and conditions as Compensation Committee may require including price, if any, which participant shall be required to pay for shares The North Carolina Restricted Stock Plan of Guilford Mills, Inc. is a comprehensive employee benefit program designed to provide eligible employees with an opportunity to own company stock. This plan is specifically tailored for employees of Guilford Mills, Inc., a North Carolina-based company. Under the North Carolina Restricted Stock Plan, employees are granted restricted stock units (RSS) as a form of compensation. This RSS represents a promise to deliver shares of company stock at a specified future date or upon achieving certain performance-based goals. The RSS are subject to various vesting schedules, which means employees must meet specific criteria, such as completing a certain number of years of service, to gain ownership of the shares. The plan aims to align the interests of the employees with those of the company, as it provides a direct financial incentive tied to the success and profitability of Guilford Mills, Inc. Employees who participate in the plan have a vested interest in driving the company's growth and enhancing shareholder value. The North Carolina Restricted Stock Plan acknowledges various types of RSS, including performance-based RSS and time-based RSS. Performance-based RSS are granted based on achieving predetermined performance goals set by the company, such as revenue targets or market share growth. Time-based RSS, on the other hand, vest over a specific period, typically linked to the employee's tenure with the company. This employee benefit plan serves as a valuable retention tool for Guilford Mills, Inc. by encouraging long-term commitment and loyalty from employees. By offering a stake in the company's performance and success, the plan also fosters a sense of shared ownership and accountability within the workforce. Overall, the North Carolina Restricted Stock Plan of Guilford Mills, Inc. is a dynamic program that enables eligible employees to acquire ownership in the company by receiving restricted stock units. With different types of RSS available, this plan emphasizes both performance-driven and tenure-based vesting criteria. By aligning the interests of employees with those of the company, Guilford Mills, Inc. aims to enhance motivation, retention, and overall employee engagement.

The North Carolina Restricted Stock Plan of Guilford Mills, Inc. is a comprehensive employee benefit program designed to provide eligible employees with an opportunity to own company stock. This plan is specifically tailored for employees of Guilford Mills, Inc., a North Carolina-based company. Under the North Carolina Restricted Stock Plan, employees are granted restricted stock units (RSS) as a form of compensation. This RSS represents a promise to deliver shares of company stock at a specified future date or upon achieving certain performance-based goals. The RSS are subject to various vesting schedules, which means employees must meet specific criteria, such as completing a certain number of years of service, to gain ownership of the shares. The plan aims to align the interests of the employees with those of the company, as it provides a direct financial incentive tied to the success and profitability of Guilford Mills, Inc. Employees who participate in the plan have a vested interest in driving the company's growth and enhancing shareholder value. The North Carolina Restricted Stock Plan acknowledges various types of RSS, including performance-based RSS and time-based RSS. Performance-based RSS are granted based on achieving predetermined performance goals set by the company, such as revenue targets or market share growth. Time-based RSS, on the other hand, vest over a specific period, typically linked to the employee's tenure with the company. This employee benefit plan serves as a valuable retention tool for Guilford Mills, Inc. by encouraging long-term commitment and loyalty from employees. By offering a stake in the company's performance and success, the plan also fosters a sense of shared ownership and accountability within the workforce. Overall, the North Carolina Restricted Stock Plan of Guilford Mills, Inc. is a dynamic program that enables eligible employees to acquire ownership in the company by receiving restricted stock units. With different types of RSS available, this plan emphasizes both performance-driven and tenure-based vesting criteria. By aligning the interests of employees with those of the company, Guilford Mills, Inc. aims to enhance motivation, retention, and overall employee engagement.