New York Long Term Incentive Program for Senior Management

• Category: Corporations - Public - Incentive Compensation Plans
• State: Multi-State
• Control #: US-CC-20-162L
• Format: Word; Rich Text

Description

20-162L 20-162L . . . Long Term Incentive Program For Senior Management under which Compensation Committee may award (a) stock appreciation rights and (b) performance share units. Performance share units entitle holder to receive cash payment equal to (i) average market price of one share of corporation common stock during December ("Measuring Month") in third calendar year following year in which award is made, plus (ii) aggregate dividends with respect to one share of corporation common stock from January 1 of year in which award is made until last day of Measuring Month. At maturity, number of units initially awarded shall be (i) multiplied by fraction that corresponds to average annual percentage increase or decrease in book value per share of corporation common stock over four year period prior to maturity, and (ii) then further adjusted based on ratio of market value of corporation common stock to its book value as compared to that of comparable electric utility companies The New York Long Term Incentive Program (TIP) for Senior Management is a comprehensive compensation package designed to attract and retain top-level executives in various industries within the state. This program aims to motivate senior managers by offering performance-based incentives that align their long-term goals with the organization's objectives. Through a combination of financial rewards and equity-based compensation, these programs ensure that senior managers are committed to the organization's sustained success. Keywords: New York, Long Term Incentive Program, Senior Management, compensation package, attract, retain, top-level executives, industries, motivate, performance-based incentives, long-term goals, organization's objectives, financial rewards, equity-based compensation, sustained success. Various Types of New York Long Term Incentive Program for Senior Management: 1. Performance Share Units (Plus): This type of program grants senior managers with shares or units based on the company's performance over a specified timeframe. As the organization achieves predetermined targets, senior managers receive a proportional number of shares, which are typically subject to vesting requirements. 2. Restricted Stock Units (RSS): RSS provide senior managers with a grant of company stock, which becomes vested after a certain period of time or upon meeting specific performance milestones. Managers receive ownership rights to these stocks but often face restrictions on selling or transferring them until the vesting conditions are fulfilled. 3. Stock Options: This program grants senior managers the right to purchase company stock at a predetermined price (exercise price) within a specified period. The exercise price is usually set at the market value of the stock on the date of grant. They can sell the stocks at a potentially higher market price after a vesting period, thereby benefiting from any increase in the stock's value. 4. Performance Cash Plans: This type of program rewards senior managers with cash bonuses based on their individual or team performance metrics. It provides flexibility to customize incentives according to specific goals and can be tied to short-term or long-term targets, depending on the organization's strategy. 5. Deferred Compensation Plans: These plans allow senior managers to defer a portion of their salary or bonus to a future date, typically upon retirement or when certain performance milestones are achieved. This allows managers to control the timing of their compensation, potentially benefiting from favorable tax treatment or adding an extra layer of financial security. Remember, the New York Long Term Incentive Program for Senior Management may have variations or combinations of these types based on the organization's industry, structure, and specific objectives. The programs aim to provide attractive compensation structures that align the interests of senior managers with the long-term success of the organization, ultimately driving growth and profitability.

The New York Long Term Incentive Program (TIP) for Senior Management is a comprehensive compensation package designed to attract and retain top-level executives in various industries within the state. This program aims to motivate senior managers by offering performance-based incentives that align their long-term goals with the organization's objectives. Through a combination of financial rewards and equity-based compensation, these programs ensure that senior managers are committed to the organization's sustained success. Keywords: New York, Long Term Incentive Program, Senior Management, compensation package, attract, retain, top-level executives, industries, motivate, performance-based incentives, long-term goals, organization's objectives, financial rewards, equity-based compensation, sustained success. Various Types of New York Long Term Incentive Program for Senior Management: 1. Performance Share Units (Plus): This type of program grants senior managers with shares or units based on the company's performance over a specified timeframe. As the organization achieves predetermined targets, senior managers receive a proportional number of shares, which are typically subject to vesting requirements. 2. Restricted Stock Units (RSS): RSS provide senior managers with a grant of company stock, which becomes vested after a certain period of time or upon meeting specific performance milestones. Managers receive ownership rights to these stocks but often face restrictions on selling or transferring them until the vesting conditions are fulfilled. 3. Stock Options: This program grants senior managers the right to purchase company stock at a predetermined price (exercise price) within a specified period. The exercise price is usually set at the market value of the stock on the date of grant. They can sell the stocks at a potentially higher market price after a vesting period, thereby benefiting from any increase in the stock's value. 4. Performance Cash Plans: This type of program rewards senior managers with cash bonuses based on their individual or team performance metrics. It provides flexibility to customize incentives according to specific goals and can be tied to short-term or long-term targets, depending on the organization's strategy. 5. Deferred Compensation Plans: These plans allow senior managers to defer a portion of their salary or bonus to a future date, typically upon retirement or when certain performance milestones are achieved. This allows managers to control the timing of their compensation, potentially benefiting from favorable tax treatment or adding an extra layer of financial security. Remember, the New York Long Term Incentive Program for Senior Management may have variations or combinations of these types based on the organization's industry, structure, and specific objectives. The programs aim to provide attractive compensation structures that align the interests of senior managers with the long-term success of the organization, ultimately driving growth and profitability.