Ohio Long Term Incentive Compensation Plan of A.M. Castle and Co.

• Category: Corporations - Public - Incentive Compensation Plans
• State: Multi-State
• Control #: US-CC-20-181
• Format: Word; Rich Text

Description

20-181 20-181 . . . Long Term Incentive Compensation Plan under which Human Resources Committee designates employees who will be participants in Plan and establishes Maximum Award Percentage with respect to each participant for each three year performance cycle. Each participant is entitled to a Performance Award if annual compounded total return (based upon stock appreciation and deemed reinvestment of dividends) on corporation common stock for that performance cycle equals or exceeds 1.5% plus annual compounded total return on common stock of Standard & Poor's 500 Industrials for such period. A participant's Performance Award for a performance cycle is amount equal to product of (a) participant's base salary multiplied by (b) his Maximum Award Percentage multiplied by (c) applicable Attainment Percentage for that performance cycle The Ohio Long Term Incentive Compensation Plan of A.M. Castle and Co. is a comprehensive program designed to attract and retain top talent within the organization through long-term incentives. By providing employees with additional financial benefits beyond their base salary, the company aims to motivate and reward high-performing individuals who contribute to the company's growth and success. Under the Ohio Long Term Incentive Compensation Plan, A.M. Castle and Co. offers various types of incentives to eligible employees. One such incentive is the stock option plan, which grants employees the right to purchase company stock at a predetermined price within a specified time frame. This allows employees to share in the company's future performance and align their interests with the shareholders. Another type of incentive offered is the performance share plan, which provides eligible employees with a specified number of shares of company stock based on predetermined performance goals. The achievement of these goals, whether financial, operational, or strategic, determines the number of shares an employee receives, reflecting their contribution to the company's objectives. This plan serves as an effective way to motivate employees while promoting a performance-driven culture within the organization. Additionally, the Ohio Long Term Incentive Compensation Plan may include restricted stock units (RSS). RSS are awards granted to employees, where the number of units is determined by performance metrics or overall company performance. Unlike stock options, RSS represent an actual ownership stake in the company, and employees receive the stock units directly upon vesting, which can occur over a predetermined period. To ensure the plan's success, A.M. Castle and Co. may implement performance criteria, such as financial targets, earnings per share, revenue growth, or other key performance indicators. These metrics help align the employees' incentives with the company's overall objectives and ensure that rewards are tied to meaningful achievements. Overall, the Ohio Long Term Incentive Compensation Plan of A.M. Castle and Co. aims to foster a culture of high performance, employee retention, and shareholder alignment. By offering stock options, performance shares, and restricted stock units, the company provides employees with a valuable opportunity to participate in the company's success. Through this comprehensive and multi-faceted plan, A.M. Castle and Co. strives to attract and retain top talent, driving long-term growth and profitability.

The Ohio Long Term Incentive Compensation Plan of A.M. Castle and Co. is a comprehensive program designed to attract and retain top talent within the organization through long-term incentives. By providing employees with additional financial benefits beyond their base salary, the company aims to motivate and reward high-performing individuals who contribute to the company's growth and success. Under the Ohio Long Term Incentive Compensation Plan, A.M. Castle and Co. offers various types of incentives to eligible employees. One such incentive is the stock option plan, which grants employees the right to purchase company stock at a predetermined price within a specified time frame. This allows employees to share in the company's future performance and align their interests with the shareholders. Another type of incentive offered is the performance share plan, which provides eligible employees with a specified number of shares of company stock based on predetermined performance goals. The achievement of these goals, whether financial, operational, or strategic, determines the number of shares an employee receives, reflecting their contribution to the company's objectives. This plan serves as an effective way to motivate employees while promoting a performance-driven culture within the organization. Additionally, the Ohio Long Term Incentive Compensation Plan may include restricted stock units (RSS). RSS are awards granted to employees, where the number of units is determined by performance metrics or overall company performance. Unlike stock options, RSS represent an actual ownership stake in the company, and employees receive the stock units directly upon vesting, which can occur over a predetermined period. To ensure the plan's success, A.M. Castle and Co. may implement performance criteria, such as financial targets, earnings per share, revenue growth, or other key performance indicators. These metrics help align the employees' incentives with the company's overall objectives and ensure that rewards are tied to meaningful achievements. Overall, the Ohio Long Term Incentive Compensation Plan of A.M. Castle and Co. aims to foster a culture of high performance, employee retention, and shareholder alignment. By offering stock options, performance shares, and restricted stock units, the company provides employees with a valuable opportunity to participate in the company's success. Through this comprehensive and multi-faceted plan, A.M. Castle and Co. strives to attract and retain top talent, driving long-term growth and profitability.