New Jersey 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 Jersey Restricted Stock Plan of Bandstand Corp. is a comprehensive employee incentive program that provides eligible employees with a unique opportunity to acquire and own company stock. This plan is specifically designed to reward and retain top talent within the organization while aligning their interests with those of the company and its shareholders. The New Jersey Restricted Stock Plan offers employees a chance to acquire company shares at a predetermined price, usually at a discount, making it an attractive option for long-term investment. However, unlike regular stock options, the stock acquired through this plan is subject to various restrictions and vesting schedules before it can be fully owned by the employee. One of the key features of the New Jersey Restricted Stock Plan is its ability to motivate employees by linking their performance and tenure with the value of their stock holdings. Employees who meet specific performance targets or stay with the company for a certain period can experience appreciation in the value of their stock, enhancing their overall compensation package. There are different types of New Jersey Restricted Stock Plans offered by Bandstand Corp., each tailored to meet the needs of various employee groups. These plans may include: 1. Executive Restricted Stock Plan: This plan is typically designed for top-level executives within the company. It provides them with substantial stock ownership, incentivizing their leadership and performance while aligning their interests with long-term company success. 2. Employee Restricted Stock Plan: This plan targets a broader group of employees, including managers and high-performing individuals. It aims to motivate and retain talented staff by offering them an opportunity to become company shareholders and benefit from the growth in stock value. 3. Director Restricted Stock Plan: Bandstand Corp. also extends its restricted stock program to non-employee directors serving on the company's board. This plan ensures that directors have a vested interest in the company's success, promoting sound corporate governance. Overall, the New Jersey Restricted Stock Plan of Bandstand Corp. serves as a powerful tool for attracting, retaining, and motivating talented individuals within the organization. By providing employees with an opportunity to acquire and own company stock, it fosters a stronger sense of ownership and engagement, resulting in a more dedicated workforce and driving long-term growth for the company.

The New Jersey Restricted Stock Plan of Bandstand Corp. is a comprehensive employee incentive program that provides eligible employees with a unique opportunity to acquire and own company stock. This plan is specifically designed to reward and retain top talent within the organization while aligning their interests with those of the company and its shareholders. The New Jersey Restricted Stock Plan offers employees a chance to acquire company shares at a predetermined price, usually at a discount, making it an attractive option for long-term investment. However, unlike regular stock options, the stock acquired through this plan is subject to various restrictions and vesting schedules before it can be fully owned by the employee. One of the key features of the New Jersey Restricted Stock Plan is its ability to motivate employees by linking their performance and tenure with the value of their stock holdings. Employees who meet specific performance targets or stay with the company for a certain period can experience appreciation in the value of their stock, enhancing their overall compensation package. There are different types of New Jersey Restricted Stock Plans offered by Bandstand Corp., each tailored to meet the needs of various employee groups. These plans may include: 1. Executive Restricted Stock Plan: This plan is typically designed for top-level executives within the company. It provides them with substantial stock ownership, incentivizing their leadership and performance while aligning their interests with long-term company success. 2. Employee Restricted Stock Plan: This plan targets a broader group of employees, including managers and high-performing individuals. It aims to motivate and retain talented staff by offering them an opportunity to become company shareholders and benefit from the growth in stock value. 3. Director Restricted Stock Plan: Bandstand Corp. also extends its restricted stock program to non-employee directors serving on the company's board. This plan ensures that directors have a vested interest in the company's success, promoting sound corporate governance. Overall, the New Jersey Restricted Stock Plan of Bandstand Corp. serves as a powerful tool for attracting, retaining, and motivating talented individuals within the organization. By providing employees with an opportunity to acquire and own company stock, it fosters a stronger sense of ownership and engagement, resulting in a more dedicated workforce and driving long-term growth for the company.