Oklahoma 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 Oklahoma Restricted Stock Plan of RPM, Inc. is a specialized program designed to offer employees of RPM, Inc. in Oklahoma the opportunity to acquire company shares as a form of compensation. This plan is part of an effort to attract and retain top talent and align their interests with the long-term success of the company. The program allows eligible employees to purchase or receive restricted stock units (RSS) at a predetermined price. Under the Oklahoma Restricted Stock Plan of RPM, Inc., there are two main types of awards that can be granted to employees: restricted stock units and restricted stock awards. 1. Restricted Stock Units (RSS): RSS are virtual units or credits that represent a right to receive actual company shares at a later date. After a predetermined vesting period, typically based on the employee's length of service or achievement of certain performance goals, the RSS are converted into actual shares. The employee may then choose to hold or sell the shares. 2. Restricted Stock Awards: Restricted stock awards involve the granting of actual company shares to employees with certain restrictions or conditions. These restrictions typically include a vesting period, during which the employee must remain employed by the company to receive the full ownership of the shares. Once the shares have vested, the employee can exercise their ownership rights, such as voting and receiving dividends. Both RSS and restricted stock awards provide employees with the opportunity to directly participate in the company's growth and success. By having a stake in the company, employees are incentivized to work towards its long-term prosperity and value creation. The Oklahoma Restricted Stock Plan of RPM, Inc. is governed by specific rules and regulations applicable to the state of Oklahoma, ensuring compliance with local laws and regulations. This plan serves as a valuable tool for RPM, Inc. to motivate and reward its employees in Oklahoma, fostering a strong employee-employer partnership and driving the overall success of the organization.

The Oklahoma Restricted Stock Plan of RPM, Inc. is a specialized program designed to offer employees of RPM, Inc. in Oklahoma the opportunity to acquire company shares as a form of compensation. This plan is part of an effort to attract and retain top talent and align their interests with the long-term success of the company. The program allows eligible employees to purchase or receive restricted stock units (RSS) at a predetermined price. Under the Oklahoma Restricted Stock Plan of RPM, Inc., there are two main types of awards that can be granted to employees: restricted stock units and restricted stock awards. 1. Restricted Stock Units (RSS): RSS are virtual units or credits that represent a right to receive actual company shares at a later date. After a predetermined vesting period, typically based on the employee's length of service or achievement of certain performance goals, the RSS are converted into actual shares. The employee may then choose to hold or sell the shares. 2. Restricted Stock Awards: Restricted stock awards involve the granting of actual company shares to employees with certain restrictions or conditions. These restrictions typically include a vesting period, during which the employee must remain employed by the company to receive the full ownership of the shares. Once the shares have vested, the employee can exercise their ownership rights, such as voting and receiving dividends. Both RSS and restricted stock awards provide employees with the opportunity to directly participate in the company's growth and success. By having a stake in the company, employees are incentivized to work towards its long-term prosperity and value creation. The Oklahoma Restricted Stock Plan of RPM, Inc. is governed by specific rules and regulations applicable to the state of Oklahoma, ensuring compliance with local laws and regulations. This plan serves as a valuable tool for RPM, Inc. to motivate and reward its employees in Oklahoma, fostering a strong employee-employer partnership and driving the overall success of the organization.