North Dakota 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 Dakota Restricted Stock Plan of Bandstand Corp. is a comprehensive program implemented by Bandstand Corp., a leading corporation based in North Dakota. This stock plan aims to incentivize and retain top-performing employees by providing them with equity-based rewards tied to the company's stock value. It allows eligible employees to acquire company stocks at a discounted or set price, known as the grant price, and restricts their ability to sell or transfer those shares until specific conditions are met. Under the North Dakota Restricted Stock Plan, there are different types or variations available, including: 1. Vesting Period: This type of plan requires the employees to wait for a predetermined period, known as the vesting period, before gaining full ownership of the stocks. This ensures that employees remain committed to the company's long-term success, as they must meet specific criteria, such as continuous employment or achieving performance targets, to unlock the stock's full value. 2. Performance-Based Stock Grants: Bandstand Corp. may also offer performance-based stock grants through their North Dakota Restricted Stock Plan. This type of plan ties the allocation and vesting of stocks to predefined performance goals or objectives. By aligning employee performance with corporate objectives, this plan motivates individuals to drive the company's growth and enhances overall shareholder value. 3. Restricted Stock Units (RSS): In addition to traditional stock grants, Bandstand Corp. may offer restricted stock units as part of their North Dakota Restricted Stock Plan. RSS is a promise to deliver company stock in the future, once specific conditions are met. As the RSS vest, employees gain the right to receive actual shares of the company's stock, subject to any restrictions outlined in the plan. 4. Employee Stock Purchase Plans (ESPN): Bandstand Corp. may also provide an Employee Stock Purchase Plan as an additional option within their North Dakota Restricted Stock Plan. This plan allows eligible employees to contribute a portion of their salary to purchase company stocks at a discounted price. The ESPN often offer a more affordable way for employees to acquire company shares and benefit from the potential appreciation over time. Overall, the North Dakota Restricted Stock Plan of Bandstand Corp. is a comprehensive and flexible program designed to reward employees, build engagement, and align their interests with the company's long-term success. By offering various types of stock grants and options, the plan ensures that employees are motivated to contribute to the organization's growth while also enhancing their personal financial well-being.

The North Dakota Restricted Stock Plan of Bandstand Corp. is a comprehensive program implemented by Bandstand Corp., a leading corporation based in North Dakota. This stock plan aims to incentivize and retain top-performing employees by providing them with equity-based rewards tied to the company's stock value. It allows eligible employees to acquire company stocks at a discounted or set price, known as the grant price, and restricts their ability to sell or transfer those shares until specific conditions are met. Under the North Dakota Restricted Stock Plan, there are different types or variations available, including: 1. Vesting Period: This type of plan requires the employees to wait for a predetermined period, known as the vesting period, before gaining full ownership of the stocks. This ensures that employees remain committed to the company's long-term success, as they must meet specific criteria, such as continuous employment or achieving performance targets, to unlock the stock's full value. 2. Performance-Based Stock Grants: Bandstand Corp. may also offer performance-based stock grants through their North Dakota Restricted Stock Plan. This type of plan ties the allocation and vesting of stocks to predefined performance goals or objectives. By aligning employee performance with corporate objectives, this plan motivates individuals to drive the company's growth and enhances overall shareholder value. 3. Restricted Stock Units (RSS): In addition to traditional stock grants, Bandstand Corp. may offer restricted stock units as part of their North Dakota Restricted Stock Plan. RSS is a promise to deliver company stock in the future, once specific conditions are met. As the RSS vest, employees gain the right to receive actual shares of the company's stock, subject to any restrictions outlined in the plan. 4. Employee Stock Purchase Plans (ESPN): Bandstand Corp. may also provide an Employee Stock Purchase Plan as an additional option within their North Dakota Restricted Stock Plan. This plan allows eligible employees to contribute a portion of their salary to purchase company stocks at a discounted price. The ESPN often offer a more affordable way for employees to acquire company shares and benefit from the potential appreciation over time. Overall, the North Dakota Restricted Stock Plan of Bandstand Corp. is a comprehensive and flexible program designed to reward employees, build engagement, and align their interests with the company's long-term success. By offering various types of stock grants and options, the plan ensures that employees are motivated to contribute to the organization's growth while also enhancing their personal financial well-being.