North Dakota Restricted Stock Plan of RPM, Inc.

• Category: Corporations - Public - Stock Options
• State: Multi-State
• Control #: US-CC-18-200A
• Format: Word; Rich Text

Description

18-200A 18-200A . . . Restricted Stock Plan under which (a) Compensation Committee determines those employees of corporation and subsidiaries who are eligible to receive awards of Restricted Shares, (b) Restricted Shares are forfeitable and nontransferable for specified period of time, (c) transfer restrictions remain in place until earliest of (i) later of either employee's termination of employment or lapse of forfeiture restrictions, (ii) change in control with respect to corporation, or (iii) termination of Plan. Restricted Shares are subject to compete forfeiture until earliest to occur of (i) later of either employee's attainment of age 55 or fifth anniversary of May 31st immediately preceding date on which Restricted Shares were awarded, (ii) retirement of employee on or after attainment of age 65, or (iii) change in control with respect to corporation

The North Dakota Restricted Stock Plan of RPM, Inc. is a comprehensive employee benefit program offered by RPM, Inc., a prominent company operating in North Dakota. This stock plan aims to provide employees with an additional avenue for compensation and wealth accumulation by granting them company shares under certain restrictions. The North Dakota Restricted Stock Plan is designed to motivate and reward employees for their hard work, dedication, and contribution to RPM, Inc.'s success. Participants in the plan are given shares of RPM, Inc.'s stock, which are subject to various restrictions and conditions. These restrictions typically include a vesting period, during which employees must remain employed with the company in order to fully benefit from their allocated shares. One variant of the North Dakota Restricted Stock Plan is the Performance-Based Restricted Stock Plan. Under this plan, employees receive shares based on the achievement of specific performance targets or goals outlined by RPM, Inc. These targets are often tied to financial performance metrics, such as revenue growth or profitability, and serve as a way to align employee interests with the company's overall success. Another type of North Dakota Restricted Stock Plan offered by RPM, Inc. is the Equity Incentive Plan. This plan allows the company to grant stock options or restricted stock units to employees, providing them with the opportunity to purchase or receive shares in the future at a predetermined price. The Equity Incentive Plan is typically used to attract and retain top talent, as it offers employees the potential for future equity ownership and financial upside. By implementing the North Dakota Restricted Stock Plan, RPM, Inc. not only enhances employee loyalty and commitment but also aligns employee goals and interests with the long-term success of the company. It allows employees to directly benefit from the increase in RPM, Inc.'s stock value over time. This program promotes a sense of ownership, accountability, and partnership between employees and the company, fostering a high-performance work culture. In summary, the North Dakota Restricted Stock Plan of RPM, Inc. is a comprehensive employee benefit program that provides employees with company shares under certain restrictions and conditions. The plan includes variants such as the Performance-Based Restricted Stock Plan and the Equity Incentive Plan, which aim to reward and incentivize employees based on their performance and long-term commitment to the company.