New Jersey 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 New Jersey Restricted Stock Plan is a comprehensive employee benefit program implemented by RPM, Inc., a prominent company in the state. This plan is designed to incentivize and reward employees for their contribution to the growth and success of the organization. In exchange for their dedication and commitment, eligible employees are granted restricted stock units (RSS) as part of their compensation package. Under the New Jersey Restricted Stock Plan, RPM, Inc. offers several types of restricted stock units, each tailored to meet the unique needs and preferences of employees. These options include: 1. Performance-Based RSS: RPM, Inc. rewards outstanding employee performance by granting performance-based RSS. These units are subject to a predetermined set of performance goals, such as achieving specific financial targets or meeting project milestones. Once these goals are met, employees become eligible to receive the corresponding number of shares. 2. Time-Vesting RSS: Another option available to employees is time-vesting RSS. These units are granted with a specific vesting schedule, typically spanning over several years. As time passes and the employee remains in the company's service, the RSS gradually vest, providing an opportunity for employees to acquire ownership in RPM, Inc. 3. Market Condition RSS: RPM, Inc. may also offer market condition RSS, which are contingent upon certain market-related conditions or external events. Such conditions could include stock price performance, industry benchmarks, or company-specific milestones. Based on the achievement of these conditions, employees may receive stock units at a predetermined ratio. The New Jersey Restricted Stock Plan serves as a valuable retention and motivation tool for employees, allowing them to share in the company's success and align their interests with the overall business objectives. It encourages long-term commitment, as employees must satisfy specific conditions, such as remaining employed by RPM, Inc., to fully benefit from the plan. It is important to note that the specifics of the New Jersey Restricted Stock Plan vary depending on individual agreements and the employee's position within RPM, Inc. Employees are advised to carefully review the terms and conditions of the plan, including the potential tax implications, to make informed decisions about their participation. The plan administrators are available to provide guidance and answer any questions relating to the plan and its different options.

The New Jersey Restricted Stock Plan is a comprehensive employee benefit program implemented by RPM, Inc., a prominent company in the state. This plan is designed to incentivize and reward employees for their contribution to the growth and success of the organization. In exchange for their dedication and commitment, eligible employees are granted restricted stock units (RSS) as part of their compensation package. Under the New Jersey Restricted Stock Plan, RPM, Inc. offers several types of restricted stock units, each tailored to meet the unique needs and preferences of employees. These options include: 1. Performance-Based RSS: RPM, Inc. rewards outstanding employee performance by granting performance-based RSS. These units are subject to a predetermined set of performance goals, such as achieving specific financial targets or meeting project milestones. Once these goals are met, employees become eligible to receive the corresponding number of shares. 2. Time-Vesting RSS: Another option available to employees is time-vesting RSS. These units are granted with a specific vesting schedule, typically spanning over several years. As time passes and the employee remains in the company's service, the RSS gradually vest, providing an opportunity for employees to acquire ownership in RPM, Inc. 3. Market Condition RSS: RPM, Inc. may also offer market condition RSS, which are contingent upon certain market-related conditions or external events. Such conditions could include stock price performance, industry benchmarks, or company-specific milestones. Based on the achievement of these conditions, employees may receive stock units at a predetermined ratio. The New Jersey Restricted Stock Plan serves as a valuable retention and motivation tool for employees, allowing them to share in the company's success and align their interests with the overall business objectives. It encourages long-term commitment, as employees must satisfy specific conditions, such as remaining employed by RPM, Inc., to fully benefit from the plan. It is important to note that the specifics of the New Jersey Restricted Stock Plan vary depending on individual agreements and the employee's position within RPM, Inc. Employees are advised to carefully review the terms and conditions of the plan, including the potential tax implications, to make informed decisions about their participation. The plan administrators are available to provide guidance and answer any questions relating to the plan and its different options.