Nevada 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 Nevada Restricted Stock Plan of Bandstand Corp. is a comprehensive employee benefit program created by Bandstand Corp., a leading corporation based in Nevada. Designed to incentivize and reward key employees, this plan offers restricted stock options as a form of compensation. The plan operates under the guidelines set forth by the state of Nevada, ensuring compliance with all relevant regulations. It provides eligible employees with the opportunity to acquire company stock at a discounted price, subject to certain restrictions and limitations. This approach gives employees a vested interest in the company's success, aligning their personal financial goals with the overall growth and performance of Bandstand Corp. By participating in the Nevada Restricted Stock Plan, employees will receive a predetermined number of restricted stock units (RSS) or restricted stock awards (SAS), depending on the specific terms of the program. RSS represents a promise to deliver company stock at a future date, usually vesting over a set period. SAS, on the other hand, grant immediate ownership of the company stock but often include restrictions on resale or transfer until a specified time has passed. These restricted stock options serve as powerful tools for talent retention, motivating employees to remain dedicated to the corporation for the long term. As the stock options have vesting periods, it encourages employees to stay with the company and contribute to its growth and success over time. Moreover, the opportunity to acquire company stock at a discount can provide a significant financial benefit to employees as the value of the stock increases. The Nevada Restricted Stock Plan of Bandstand Corp. aims to create a sense of ownership and commitment among employees, fostering loyalty and driving the company's prosperity. It reinforces a collaborative work environment and encourages employees to think and act like shareholders, promoting a culture of accountability and shared success. In summary, the Nevada Restricted Stock Plan of Bandstand Corp. is a valuable employee benefit program that grants eligible employees the opportunity to acquire company stock at a discounted price, subject to vesting and other restrictions. By providing this unique form of compensation, Bandstand Corp. aims to reward, motivate, and retain key talent, fostering a strong sense of ownership and commitment to the company's long-term success.

The Nevada Restricted Stock Plan of Bandstand Corp. is a comprehensive employee benefit program created by Bandstand Corp., a leading corporation based in Nevada. Designed to incentivize and reward key employees, this plan offers restricted stock options as a form of compensation. The plan operates under the guidelines set forth by the state of Nevada, ensuring compliance with all relevant regulations. It provides eligible employees with the opportunity to acquire company stock at a discounted price, subject to certain restrictions and limitations. This approach gives employees a vested interest in the company's success, aligning their personal financial goals with the overall growth and performance of Bandstand Corp. By participating in the Nevada Restricted Stock Plan, employees will receive a predetermined number of restricted stock units (RSS) or restricted stock awards (SAS), depending on the specific terms of the program. RSS represents a promise to deliver company stock at a future date, usually vesting over a set period. SAS, on the other hand, grant immediate ownership of the company stock but often include restrictions on resale or transfer until a specified time has passed. These restricted stock options serve as powerful tools for talent retention, motivating employees to remain dedicated to the corporation for the long term. As the stock options have vesting periods, it encourages employees to stay with the company and contribute to its growth and success over time. Moreover, the opportunity to acquire company stock at a discount can provide a significant financial benefit to employees as the value of the stock increases. The Nevada Restricted Stock Plan of Bandstand Corp. aims to create a sense of ownership and commitment among employees, fostering loyalty and driving the company's prosperity. It reinforces a collaborative work environment and encourages employees to think and act like shareholders, promoting a culture of accountability and shared success. In summary, the Nevada Restricted Stock Plan of Bandstand Corp. is a valuable employee benefit program that grants eligible employees the opportunity to acquire company stock at a discounted price, subject to vesting and other restrictions. By providing this unique form of compensation, Bandstand Corp. aims to reward, motivate, and retain key talent, fostering a strong sense of ownership and commitment to the company's long-term success.