North Carolina Long Term Performance and Restricted Stock Incentive Plan of Ipalco Enterprises, Inc.

• Category: Corporations - Public - Incentive Compensation Plans
• State: Multi-State
• Control #: US-CC-20-174D
• Format: Word; Rich Text

Description

20-174D 20-174D . . . Restricted Stock Incentive Plan under which Compensation Committee selects participants, determines number of shares of common stock covered by each grant, establishes appropriate performance measures, and chooses appropriate corporation peer group. The number of shares granted is equal to a percentage of participant's base salary for first calendar year of each three-year program. The base salary percentage target of first three-year grants range from 10% to 35%; maximum base salary grant permitted by Plan may not exceed 70% of participant's base salary. After end of a Performance Period, Committee determines adjustments, if any, that are required to be made to share grants for Performance Period based on actual results under Performance Measures (performance of corporation versus its peer group) for such Performance Period. After adjustments, restrictions on shares held by participant are lifted as to 1/3 on July 1 immediately following Performance Period and additional 1/3 increments on the first and second anniversaries of such July 1, provided participant is still employed by corporation on such date. If participant ceases to be employed by corporation before restrictions lapse on shares held by him or her, shares still subject to restrictions are immediately forfeited The North Carolina Long Term Performance and Restricted Stock Incentive Plan is a comprehensive compensation program offered by INALCOL Enterprises, Inc. to its employees in North Carolina. This plan is designed to reward and incentivize key employees, executives, and directors based on their long-term performance and commitment to the company's objectives. The plan offers various types of incentives, including restricted stock units (RSS), performance shares, and stock options. These incentives are granted to eligible participants as a way to align their interests with those of the company's shareholders and motivate them to achieve outstanding performance. Restricted stock units (RSS) are a popular type of incentive under the plan. RSS are awarded to participants, typically subject to a vesting period, during which the employee cannot sell or transfer the awarded shares. This incentivizes participants to remain with the company and work towards its long-term growth and success. Performance shares are another type of incentive offered under the plan. These shares are tied to pre-established performance criteria, such as financial goals, revenue growth, or stock price targets. Eligible participants receive shares based on the achievement of these performance goals, often subject to a vesting schedule. The plan may also include stock options as an incentive to participants. Stock options grant employees the right to purchase company stock at a predetermined price, known as the exercise price, within a specified time frame. This allows employees to benefit from any future increase in the company's stock price. It is important to note that the specific terms, conditions, and offerings of the North Carolina Long Term Performance and Restricted Stock Incentive Plan of INALCOL Enterprises, Inc. may vary from year to year and depending on an individual's role and level within the company. Overall, the North Carolina Long Term Performance and Restricted Stock Incentive Plan is a valuable component of INALCOL Enterprises, Inc.'s compensation strategy. It aims to attract, retain, and motivate top talent in North Carolina, driving long-term growth, and rewarding employees for their dedication and exceptional performance.

The North Carolina Long Term Performance and Restricted Stock Incentive Plan is a comprehensive compensation program offered by INALCOL Enterprises, Inc. to its employees in North Carolina. This plan is designed to reward and incentivize key employees, executives, and directors based on their long-term performance and commitment to the company's objectives. The plan offers various types of incentives, including restricted stock units (RSS), performance shares, and stock options. These incentives are granted to eligible participants as a way to align their interests with those of the company's shareholders and motivate them to achieve outstanding performance. Restricted stock units (RSS) are a popular type of incentive under the plan. RSS are awarded to participants, typically subject to a vesting period, during which the employee cannot sell or transfer the awarded shares. This incentivizes participants to remain with the company and work towards its long-term growth and success. Performance shares are another type of incentive offered under the plan. These shares are tied to pre-established performance criteria, such as financial goals, revenue growth, or stock price targets. Eligible participants receive shares based on the achievement of these performance goals, often subject to a vesting schedule. The plan may also include stock options as an incentive to participants. Stock options grant employees the right to purchase company stock at a predetermined price, known as the exercise price, within a specified time frame. This allows employees to benefit from any future increase in the company's stock price. It is important to note that the specific terms, conditions, and offerings of the North Carolina Long Term Performance and Restricted Stock Incentive Plan of INALCOL Enterprises, Inc. may vary from year to year and depending on an individual's role and level within the company. Overall, the North Carolina Long Term Performance and Restricted Stock Incentive Plan is a valuable component of INALCOL Enterprises, Inc.'s compensation strategy. It aims to attract, retain, and motivate top talent in North Carolina, driving long-term growth, and rewarding employees for their dedication and exceptional performance.