North Carolina Restricted Stock Plan of Sundstrand Corp.

• Category: Corporations - Public - Incentive Compensation Plans
• State: Multi-State
• Control #: US-CC-20-171D
• Format: Word; Rich Text

Description

20-171D 20-171D . . . Restricted Stock Plan under which a committee of Board of Directors sells shares of common stock to certain officers and senior employees at a price substantially below current market price. The shares are subject to following restrictions: (a) prohibition against any sale or other transfer and (b) obligation that participant (at corporation's option) must resell shares to corporation at price he paid for them if he ceases to be employed by corporation prior to expiration of from five to nine years after shares were sold to him, for reasons other than normal retirement, death, total disability or early retirement with consent of Board or committee. Except as otherwise provided, restrictions lapse as to 1/5 of aggregate number of participant's shares at expiration or each of fifth through ninth years after his purchase of such shares The North Carolina Restricted Stock Plan of Bandstand Corp. is a specialized employee benefit program offered by Bandstand Corp. in North Carolina. This plan is specifically designed to incentivize, reward, and retain employees within the company. Under the North Carolina Restricted Stock Plan of Bandstand Corp., eligible employees are granted shares of the company's stock, subject to certain restrictions. These restrictions typically include a vesting period, during which the employee must fulfill specific requirements to fully own the stock. These requirements may include remaining with the company for a certain period of time or achieving specified performance targets. By granting restricted stock, Bandstand Corp. aims to align the interests of its employees with those of the company's shareholders. This encourages long-term commitment and enhances employee engagement, as employees become partial owners of the company. Restricted stock ensures that employees have a vested interest in the company's success and value appreciation. The North Carolina Restricted Stock Plan of Bandstand Corp. offers various types of grants, tailored to suit the needs of different employee groups or levels. These may include: 1. Executive Restricted Stock Grants: These grants are usually offered to top-level executives within the company. They serve as a powerful retention tool, aimed at sustaining leadership and attracting high-caliber talent. 2. Performance-based Restricted Stock Grants: This type of grant is tied to achieving predefined performance goals. Eligible employees are given shares of restricted stock that vest upon reaching specific targets, such as revenue growth, cost savings, or other performance metrics. 3. Long-Term Incentive Restricted Stock Grants: These grants are designed to reward long-term commitment and dedication. They are typically subject to a lengthier vesting period, encouraging employees to stay with the company for an extended duration. 4. Employee Stock Purchase Plan Grants: Bandstand Corp. may also offer restricted stock grants through an Employee Stock Purchase Plan (ESPN). This allows employees to purchase shares of company stock at a discounted price, usually through payroll deductions. These purchases are often subject to vesting, ensuring a commitment from employees. Overall, the North Carolina Restricted Stock Plan of Bandstand Corp. serves as a valuable tool in attracting, retaining, and engaging employees by offering them ownership in the company they work for. It provides a means for employees to share in Bandstand Corp.'s success while aligning their interests with the long-term growth and profitability of the organization.

The North Carolina Restricted Stock Plan of Bandstand Corp. is a specialized employee benefit program offered by Bandstand Corp. in North Carolina. This plan is specifically designed to incentivize, reward, and retain employees within the company. Under the North Carolina Restricted Stock Plan of Bandstand Corp., eligible employees are granted shares of the company's stock, subject to certain restrictions. These restrictions typically include a vesting period, during which the employee must fulfill specific requirements to fully own the stock. These requirements may include remaining with the company for a certain period of time or achieving specified performance targets. By granting restricted stock, Bandstand Corp. aims to align the interests of its employees with those of the company's shareholders. This encourages long-term commitment and enhances employee engagement, as employees become partial owners of the company. Restricted stock ensures that employees have a vested interest in the company's success and value appreciation. The North Carolina Restricted Stock Plan of Bandstand Corp. offers various types of grants, tailored to suit the needs of different employee groups or levels. These may include: 1. Executive Restricted Stock Grants: These grants are usually offered to top-level executives within the company. They serve as a powerful retention tool, aimed at sustaining leadership and attracting high-caliber talent. 2. Performance-based Restricted Stock Grants: This type of grant is tied to achieving predefined performance goals. Eligible employees are given shares of restricted stock that vest upon reaching specific targets, such as revenue growth, cost savings, or other performance metrics. 3. Long-Term Incentive Restricted Stock Grants: These grants are designed to reward long-term commitment and dedication. They are typically subject to a lengthier vesting period, encouraging employees to stay with the company for an extended duration. 4. Employee Stock Purchase Plan Grants: Bandstand Corp. may also offer restricted stock grants through an Employee Stock Purchase Plan (ESPN). This allows employees to purchase shares of company stock at a discounted price, usually through payroll deductions. These purchases are often subject to vesting, ensuring a commitment from employees. Overall, the North Carolina Restricted Stock Plan of Bandstand Corp. serves as a valuable tool in attracting, retaining, and engaging employees by offering them ownership in the company they work for. It provides a means for employees to share in Bandstand Corp.'s success while aligning their interests with the long-term growth and profitability of the organization.