The Oregon Officer Long Term Incentive Compensation Plan (OLT ICP) is an important component of Southern California Edison Co.'s (SHE) overall compensation package for its officers based in Oregon. The OLT ICP is designed to reward and retain key executives by providing long-term incentives that are directly linked to the company's performance and shareholder value. Under the OLT ICP, eligible officers are granted a combination of stock options, restricted stock units (RSS), and performance share units (Plus) that vest over a period of time, typically spanning multiple years. These incentives aim to align the interests of executives with those of the company's shareholders, fostering commitment and long-term focus on sustainable growth and profitability. 1. Stock Options: Stock options provide eligible officers the right to purchase a specific number of SHE's common stock at a pre-determined exercise price, usually the price of SHE's stock on the grant date. The options typically have a vesting period of at least one year, incentivizing officers to stay with the company until the options become exercisable. The value of stock options is contingent upon the future performance of SHE's stock. 2. Restricted Stock Units (RSS): RSS are another component of the OLT ICP. RSS represents the right to receive SHE's common stock at a future date, subject to the fulfillment of certain conditions such as continued employment or the achievement of predetermined performance targets. The RSS usually vest over a period of several years, ensuring a long-term focus on the company's success. 3. Performance Share Units (Plus): Plus are awarded to eligible officers based on the achievement of predefined performance goals. These performance metrics can encompass a range of financial, operational, and strategic objectives, such as earnings growth, operational efficiency, customer satisfaction, or environmental sustainability. Plus are subject to vesting over multiple years, incentivizing officers to contribute to the company's overall success. SHE's OLT ICP aims to strike a balance between rewarding long-term performance, retaining top talent, and aligning the interests of its officers with the company's strategic goals. By utilizing a combination of stock options, RSS, and Plus, the plan provides executives with substantial financial incentives while fostering a culture of accountability and sustained growth. Please note: As an AI language model, I cannot guarantee the accuracy or current existence of specific compensation plans or their variations. It is important to consult the official documentation or contact Southern California Edison Co. or its representatives for the most up-to-date and accurate information regarding their compensation plans.
Oregon Officer Long Term Incentive Compensation Plan for Southern California Edison Co.
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