Oklahoma Management Long Term Incentive Compensation Plan of of SCEcorp

• Category: Corporations - Public - Incentive Compensation Plans
• State: Multi-State
• Control #: US-CC-18-268B
• Format: Word; Rich Text

Description

18-268B 18-268B . . . Management Long Term Incentive Compensation Plan under which compensation committee can grant (i) stock appreciation equivalents (hypothetical stock "units" which are granted to participant and upon which value of any incentive award is calculated), (ii) dividend equivalents (which represent value of dividends per share paid by corporation, calculated upon stock or stock units held by participant and which, if objectives set by committee are met, are paid to participant), (iii) Non-qualified Stock Options, (iv) incentive stock options, (v) restricted stock, (vi) stock appreciation rights, and (vii) performance awards The Oklahoma Management Long Term Incentive Compensation Plan of Suncorp is a comprehensive program designed to incentivize and reward long-term performance and strategic value creation by the company's management in the state of Oklahoma. This plan is an integral part of Suncorp's commitment to aligning the interests of its management team with the company's overall growth and success. The primary objective of the Oklahoma Management Long Term Incentive Compensation Plan is to motivate top-performing managers to drive sustainable growth and maximize shareholder value over an extended period. Through this plan, managers are offered a variety of performance-based incentives tailored to their specific roles and responsibilities within the organization. Key components of the Oklahoma Management Long Term Incentive Compensation Plan may include: 1. Stock Options: Executives and eligible managers may be granted stock options, which provide the right to purchase company stock at a predetermined price within a specified timeframe. These options are typically tied to certain performance targets, such as achieving financial goals or operational milestones. 2. Restricted Stock Units (RSS): RSS are an important element of long-term incentives that grant employees the right to receive company stock at a future date, subject to certain vesting criteria. This encourages managers to remain committed to the company's long-term success. 3. Performance Shares: Performance shares are typically awarded based on the achievement of predetermined performance goals, often related to financial metrics, operational efficiency, or strategic objectives. Managers receive shares of company stock based on their performance against these targets. 4. Cash Bonuses: In addition to stock-based incentives, the Oklahoma Management Long Term Incentive Compensation Plan may also provide for cash bonuses tied to specific performance benchmarks. These bonuses reward exceptional individual or team achievements and provide additional motivation for managers to excel. It's noteworthy to mention that, although the plan is primarily referred to as the Oklahoma Management Long Term Incentive Compensation Plan, variations of this plan may exist to cater to the unique needs of different regions or subsidiaries within Suncorp. For example, there could be the California Management Long Term Incentive Compensation Plan or the Texas Management Long Term Incentive Compensation Plan, each tailored to the specific requirements and legal frameworks of those regions. Overall, the Oklahoma Management Long Term Incentive Compensation Plan of Suncorp serves as a crucial tool in attracting, retaining, and motivating talented management personnel dedicated to driving the company's success. By combining both financial incentives and performance-based targets, the plan reinforces a culture of long-term thinking, accountability, and a commitment to shareholder value creation within Suncorp's management team in the state of Oklahoma.

The Oklahoma Management Long Term Incentive Compensation Plan of Suncorp is a comprehensive program designed to incentivize and reward long-term performance and strategic value creation by the company's management in the state of Oklahoma. This plan is an integral part of Suncorp's commitment to aligning the interests of its management team with the company's overall growth and success. The primary objective of the Oklahoma Management Long Term Incentive Compensation Plan is to motivate top-performing managers to drive sustainable growth and maximize shareholder value over an extended period. Through this plan, managers are offered a variety of performance-based incentives tailored to their specific roles and responsibilities within the organization. Key components of the Oklahoma Management Long Term Incentive Compensation Plan may include: 1. Stock Options: Executives and eligible managers may be granted stock options, which provide the right to purchase company stock at a predetermined price within a specified timeframe. These options are typically tied to certain performance targets, such as achieving financial goals or operational milestones. 2. Restricted Stock Units (RSS): RSS are an important element of long-term incentives that grant employees the right to receive company stock at a future date, subject to certain vesting criteria. This encourages managers to remain committed to the company's long-term success. 3. Performance Shares: Performance shares are typically awarded based on the achievement of predetermined performance goals, often related to financial metrics, operational efficiency, or strategic objectives. Managers receive shares of company stock based on their performance against these targets. 4. Cash Bonuses: In addition to stock-based incentives, the Oklahoma Management Long Term Incentive Compensation Plan may also provide for cash bonuses tied to specific performance benchmarks. These bonuses reward exceptional individual or team achievements and provide additional motivation for managers to excel. It's noteworthy to mention that, although the plan is primarily referred to as the Oklahoma Management Long Term Incentive Compensation Plan, variations of this plan may exist to cater to the unique needs of different regions or subsidiaries within Suncorp. For example, there could be the California Management Long Term Incentive Compensation Plan or the Texas Management Long Term Incentive Compensation Plan, each tailored to the specific requirements and legal frameworks of those regions. Overall, the Oklahoma Management Long Term Incentive Compensation Plan of Suncorp serves as a crucial tool in attracting, retaining, and motivating talented management personnel dedicated to driving the company's success. By combining both financial incentives and performance-based targets, the plan reinforces a culture of long-term thinking, accountability, and a commitment to shareholder value creation within Suncorp's management team in the state of Oklahoma.