Pennsylvania Restricted Stock Plan of Sundstrand Corp.

• Category: Corporations - Public - Incentive Compensation Plans
• State: Multi-State
• Control #: US-CC-20-171D
• Format: Word; Rich Text

Description

20-171D 20-171D . . . Restricted Stock Plan under which a committee of Board of Directors sells shares of common stock to certain officers and senior employees at a price substantially below current market price. The shares are subject to following restrictions: (a) prohibition against any sale or other transfer and (b) obligation that participant (at corporation's option) must resell shares to corporation at price he paid for them if he ceases to be employed by corporation prior to expiration of from five to nine years after shares were sold to him, for reasons other than normal retirement, death, total disability or early retirement with consent of Board or committee. Except as otherwise provided, restrictions lapse as to 1/5 of aggregate number of participant's shares at expiration or each of fifth through ninth years after his purchase of such shares The Pennsylvania Restricted Stock Plan of Bandstand Corp. is a comprehensive and beneficial program designed to reward employees for their dedication, loyalty, and commitment to the company. This plan offers various types of stock grants to eligible employees, providing them with a unique opportunity to participate in the growth and success of Bandstand Corp. The Pennsylvania Restricted Stock Plan comprises two primary types of stock grants: Restricted Stock Units (RSS) and Restricted Stock Awards (SAS). RSS represents a promise to deliver company stock at a predetermined future date, typically after the employee meets specific vesting conditions. SAS, on the other hand, grant employees actual shares of company stock upfront, but they are subject to specific restrictions and vesting schedules. This plan is applicable only to employees of Bandstand Corp. located in the state of Pennsylvania, ensuring that eligible individuals can benefit from this offering. Through the Pennsylvania Restricted Stock Plan, employees can partake in the financial success of the company, bolstering their motivation and loyalty while aligning their interests with the long-term goals of Bandstand Corp. Eligible employees who receive stock grants through this plan have the opportunity to accumulate wealth over time as the value of the stock increases. Additionally, by tying employees' financial success to the company's performance, Bandstand Corp. aims to foster a collaborative and committed workforce. The Pennsylvania Restricted Stock Plan also includes specific vesting periods, which determine when employees can fully own the awarded stock. Vesting often occurs over a set period, encouraging employees to remain with the company and contribute to its growth. This vesting period acts as an incentive for employees to stay engaged and retain their valuable expertise within Bandstand Corp. It is important to note that the Pennsylvania Restricted Stock Plan is subject to certain regulations and conditions outlined by Bandstand Corp. and applicable state laws. Employees should consult the plan documents and review all terms and conditions associated with this program to fully understand their rights and responsibilities. Overall, the Pennsylvania Restricted Stock Plan of Bandstand Corp. offers a unique opportunity for eligible employees to participate in the financial success of the company. By providing a valuable and motivating benefit package, Bandstand Corp. aims to attract and retain top talent while driving its long-term growth and profitability.

The Pennsylvania Restricted Stock Plan of Bandstand Corp. is a comprehensive and beneficial program designed to reward employees for their dedication, loyalty, and commitment to the company. This plan offers various types of stock grants to eligible employees, providing them with a unique opportunity to participate in the growth and success of Bandstand Corp. The Pennsylvania Restricted Stock Plan comprises two primary types of stock grants: Restricted Stock Units (RSS) and Restricted Stock Awards (SAS). RSS represents a promise to deliver company stock at a predetermined future date, typically after the employee meets specific vesting conditions. SAS, on the other hand, grant employees actual shares of company stock upfront, but they are subject to specific restrictions and vesting schedules. This plan is applicable only to employees of Bandstand Corp. located in the state of Pennsylvania, ensuring that eligible individuals can benefit from this offering. Through the Pennsylvania Restricted Stock Plan, employees can partake in the financial success of the company, bolstering their motivation and loyalty while aligning their interests with the long-term goals of Bandstand Corp. Eligible employees who receive stock grants through this plan have the opportunity to accumulate wealth over time as the value of the stock increases. Additionally, by tying employees' financial success to the company's performance, Bandstand Corp. aims to foster a collaborative and committed workforce. The Pennsylvania Restricted Stock Plan also includes specific vesting periods, which determine when employees can fully own the awarded stock. Vesting often occurs over a set period, encouraging employees to remain with the company and contribute to its growth. This vesting period acts as an incentive for employees to stay engaged and retain their valuable expertise within Bandstand Corp. It is important to note that the Pennsylvania Restricted Stock Plan is subject to certain regulations and conditions outlined by Bandstand Corp. and applicable state laws. Employees should consult the plan documents and review all terms and conditions associated with this program to fully understand their rights and responsibilities. Overall, the Pennsylvania Restricted Stock Plan of Bandstand Corp. offers a unique opportunity for eligible employees to participate in the financial success of the company. By providing a valuable and motivating benefit package, Bandstand Corp. aims to attract and retain top talent while driving its long-term growth and profitability.