Puerto Rico 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 Puerto Rico Restricted Stock Plan of RPM, Inc. is a comprehensive stock compensation program offered by RPM, Inc. This plan has been designed specifically for employees working in Puerto Rico and aims at providing them with the opportunity to acquire company stocks in a restricted manner. By implementing this plan, RPM, Inc. ensures that its employees possess a vested interest in the company's performance and success, thereby fostering a culture of loyalty and dedication. Under the Puerto Rico Restricted Stock Plan, eligible employees are granted restricted stock units (RSS) as a part of their compensation package. RSS represents a promise to issue shares of the company at a future date, subject to certain vesting conditions. These conditions typically include the employee's continuous service with RPM, Inc. for a specified period of time, achieving specific performance targets, or both. The plan encompasses various types of Puerto Rico Restricted Stock Units, tailored to meet the diverse needs of RPM, Inc.'s workforce. These types may include: 1. Performance RSS: This RSS is granted based on the achievement of specific performance criteria, such as meeting revenue targets, increasing profitability, or successfully completing a project. The number of RSS allocated depends on the extent to which the goals and objectives are met. 2. Service RSS: This RSS is granted purely based on an employee's continuous service with RPM, Inc. over a predefined vesting period. The objective is to reward employees for their loyalty and long-term commitment to the company. 3. Market Condition RSS: This RSS is contingent upon specific market conditions, such as the company's stock price reaching a certain threshold or sustaining a certain level of growth. If the predetermined market conditions are met, the RSS will vest and convert into actual shares. 4. Time-based RSS: These RSS vest over a predetermined time period, often referred to as a vesting schedule. For instance, an employee might be granted 1,000 RSS that vest over a period of three years, with one-third vesting at the end of each year. RPM, Inc.'s Puerto Rico Restricted Stock Plan demonstrates the company's commitment to aligning the interests of its employees with the long-term value creation for shareholders. By offering various types of RSS, the plan enables employees to participate in the company's success while reinforcing their dedication and motivation towards achieving organizational goals.

The Puerto Rico Restricted Stock Plan of RPM, Inc. is a comprehensive stock compensation program offered by RPM, Inc. This plan has been designed specifically for employees working in Puerto Rico and aims at providing them with the opportunity to acquire company stocks in a restricted manner. By implementing this plan, RPM, Inc. ensures that its employees possess a vested interest in the company's performance and success, thereby fostering a culture of loyalty and dedication. Under the Puerto Rico Restricted Stock Plan, eligible employees are granted restricted stock units (RSS) as a part of their compensation package. RSS represents a promise to issue shares of the company at a future date, subject to certain vesting conditions. These conditions typically include the employee's continuous service with RPM, Inc. for a specified period of time, achieving specific performance targets, or both. The plan encompasses various types of Puerto Rico Restricted Stock Units, tailored to meet the diverse needs of RPM, Inc.'s workforce. These types may include: 1. Performance RSS: This RSS is granted based on the achievement of specific performance criteria, such as meeting revenue targets, increasing profitability, or successfully completing a project. The number of RSS allocated depends on the extent to which the goals and objectives are met. 2. Service RSS: This RSS is granted purely based on an employee's continuous service with RPM, Inc. over a predefined vesting period. The objective is to reward employees for their loyalty and long-term commitment to the company. 3. Market Condition RSS: This RSS is contingent upon specific market conditions, such as the company's stock price reaching a certain threshold or sustaining a certain level of growth. If the predetermined market conditions are met, the RSS will vest and convert into actual shares. 4. Time-based RSS: These RSS vest over a predetermined time period, often referred to as a vesting schedule. For instance, an employee might be granted 1,000 RSS that vest over a period of three years, with one-third vesting at the end of each year. RPM, Inc.'s Puerto Rico Restricted Stock Plan demonstrates the company's commitment to aligning the interests of its employees with the long-term value creation for shareholders. By offering various types of RSS, the plan enables employees to participate in the company's success while reinforcing their dedication and motivation towards achieving organizational goals.