Nebraska 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 Nebraska Restricted Stock Plan of Bandstand Corp. is a compensation program that offers selected employees the opportunity to purchase company shares at a discounted price, subject to certain restrictions and conditions. This plan is exclusive to employees working in the state of Nebraska. Under this program, eligible employees are granted restricted stock units (RSS) or options, which represent the right to receive shares of Bandstand Corp.'s common stock in the future. The RSS and options are typically granted as part of an employee's compensation package or as a performance-based incentive. The Nebraska Restricted Stock Plan aims to align the interests of employees with the company's long-term success by giving them a stake in the company's performance. By offering discounted stock options or RSS, employees are motivated to work towards enhancing the company's value and increasing shareholder returns. The restricted stock units granted under this plan are subject to vesting schedules, meaning that employees need to fulfill specific criteria or remain with the company for a certain period before they can fully own the shares. These criteria could include reaching certain performance targets, serving a minimum employment period, or the occurrence of a predetermined event. Once the RSS vest, employees have the right to convert them into actual shares of stock. It's important to note that the Nebraska Restricted Stock Plan of Bandstand Corp. might have different variations, such as: 1. Performance-based Restricted Stock Plan: This type of plan is based on the achievement of pre-determined performance goals, such as revenue targets, profitability ratios, or market share growth. Employees receive RSS or stock options if they successfully meet or exceed these performance criteria. 2. Time-based Restricted Stock Plan: In this variation, employees are granted RSS or stock options that vest over a specific period. For example, an employee might receive a grant that vests in equal parts over three years, meaning they can convert a portion of their RSS into shares every year. 3. Change-in-Control Restricted Stock Plan: This plan comes into effect when there is a change in ownership or control of Bandstand Corp. Employees receive RSS or stock options that immediately vest if the company is acquired or merges with another entity. This serves to protect and retain key employees during significant organizational changes. Overall, the Nebraska Restricted Stock Plan of Bandstand Corp. incentivizes employees through the opportunity to acquire company shares at a discounted price, fostering a sense of ownership and alignment with the organization's overall success. The specific terms and conditions of this plan may vary depending on the particular type of restricted stock plan in place.

The Nebraska Restricted Stock Plan of Bandstand Corp. is a compensation program that offers selected employees the opportunity to purchase company shares at a discounted price, subject to certain restrictions and conditions. This plan is exclusive to employees working in the state of Nebraska. Under this program, eligible employees are granted restricted stock units (RSS) or options, which represent the right to receive shares of Bandstand Corp.'s common stock in the future. The RSS and options are typically granted as part of an employee's compensation package or as a performance-based incentive. The Nebraska Restricted Stock Plan aims to align the interests of employees with the company's long-term success by giving them a stake in the company's performance. By offering discounted stock options or RSS, employees are motivated to work towards enhancing the company's value and increasing shareholder returns. The restricted stock units granted under this plan are subject to vesting schedules, meaning that employees need to fulfill specific criteria or remain with the company for a certain period before they can fully own the shares. These criteria could include reaching certain performance targets, serving a minimum employment period, or the occurrence of a predetermined event. Once the RSS vest, employees have the right to convert them into actual shares of stock. It's important to note that the Nebraska Restricted Stock Plan of Bandstand Corp. might have different variations, such as: 1. Performance-based Restricted Stock Plan: This type of plan is based on the achievement of pre-determined performance goals, such as revenue targets, profitability ratios, or market share growth. Employees receive RSS or stock options if they successfully meet or exceed these performance criteria. 2. Time-based Restricted Stock Plan: In this variation, employees are granted RSS or stock options that vest over a specific period. For example, an employee might receive a grant that vests in equal parts over three years, meaning they can convert a portion of their RSS into shares every year. 3. Change-in-Control Restricted Stock Plan: This plan comes into effect when there is a change in ownership or control of Bandstand Corp. Employees receive RSS or stock options that immediately vest if the company is acquired or merges with another entity. This serves to protect and retain key employees during significant organizational changes. Overall, the Nebraska Restricted Stock Plan of Bandstand Corp. incentivizes employees through the opportunity to acquire company shares at a discounted price, fostering a sense of ownership and alignment with the organization's overall success. The specific terms and conditions of this plan may vary depending on the particular type of restricted stock plan in place.