New Hampshire 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 New Hampshire Restricted Stock Plan of Bandstand Corp. is an employee benefit program designed to reward and retain employees of Bandstand Corp. based in New Hampshire. This plan offers various types of restricted stock options to eligible employees, providing them with an opportunity to own company stock and participate in its growth. The primary aim of the New Hampshire Restricted Stock Plan is to align the interests of employees with those of the company, encouraging employees to work towards the long-term success of Bandstand Corp. By offering restricted stock, the company aims to create a sense of ownership and motivation among its employees. Under this plan, eligible employees are granted a specific number of restricted stock units (RSS) or restricted stock awards (SAS). These awards are subject to certain restrictions and conditions, which may include a vesting period. During this vesting period, employees may not sell or transfer their restricted stock. Once the vesting period is met, the restrictions on the stock are lifted, and employees gain full ownership rights, allowing them to sell, transfer, or retain the stock. The value of the stock depends on the performance of Bandstand Corp. and the stock market, and employees have the potential to gain from the company's growth. The New Hampshire Restricted Stock Plan of Bandstand Corp. provides employees with the flexibility to customize their investment strategy. They can decide to hold onto the stock for a longer period, take advantage of potential capital gains, or sell the stock upon vesting. This empowers employees to make effective financial decisions based on their individual circumstances. For tax purposes, employees may be subject to taxation upon the lapse of restrictions or upon the sale of the stock. It is advisable for employees to consult with tax professionals to understand their specific tax implications and obligations. In summary, the New Hampshire Restricted Stock Plan of Bandstand Corp. is a program that offers eligible employees the opportunity to own company stock and participate in the company's growth. With various types of restricted stock options, this plan aims to align the interests of employees with the long-term success of Bandstand Corp., fostering a sense of ownership and motivation among its workforce.

The New Hampshire Restricted Stock Plan of Bandstand Corp. is an employee benefit program designed to reward and retain employees of Bandstand Corp. based in New Hampshire. This plan offers various types of restricted stock options to eligible employees, providing them with an opportunity to own company stock and participate in its growth. The primary aim of the New Hampshire Restricted Stock Plan is to align the interests of employees with those of the company, encouraging employees to work towards the long-term success of Bandstand Corp. By offering restricted stock, the company aims to create a sense of ownership and motivation among its employees. Under this plan, eligible employees are granted a specific number of restricted stock units (RSS) or restricted stock awards (SAS). These awards are subject to certain restrictions and conditions, which may include a vesting period. During this vesting period, employees may not sell or transfer their restricted stock. Once the vesting period is met, the restrictions on the stock are lifted, and employees gain full ownership rights, allowing them to sell, transfer, or retain the stock. The value of the stock depends on the performance of Bandstand Corp. and the stock market, and employees have the potential to gain from the company's growth. The New Hampshire Restricted Stock Plan of Bandstand Corp. provides employees with the flexibility to customize their investment strategy. They can decide to hold onto the stock for a longer period, take advantage of potential capital gains, or sell the stock upon vesting. This empowers employees to make effective financial decisions based on their individual circumstances. For tax purposes, employees may be subject to taxation upon the lapse of restrictions or upon the sale of the stock. It is advisable for employees to consult with tax professionals to understand their specific tax implications and obligations. In summary, the New Hampshire Restricted Stock Plan of Bandstand Corp. is a program that offers eligible employees the opportunity to own company stock and participate in the company's growth. With various types of restricted stock options, this plan aims to align the interests of employees with the long-term success of Bandstand Corp., fostering a sense of ownership and motivation among its workforce.