Puerto Rico Long Term Incentive Plan of Sierra Health Services, Inc.

• Category: Corporations - Public - Incentive Compensation Plans
• State: Multi-State
• Control #: US-CC-18-289B
• Format: Word; Rich Text

Description

18-289B 18-289B . . . Long-Term Incentive Plan under which Compensation Committee can grant incentive stock options, (b) Non-qualified Stock Options, (c) reload options (which entitle optionee, upon exercise of a stock option through delivery of previously owned shares, to automatically be granted, on date of such exercise, a new stock option (i) for a number of shares of common stock not exceeding number of shares delivered in payment of option price of original option, (ii) having an option price not less than fair market value of common stock on date of grant of reload option, (iii) having an expiration date not later than expiration date of original option, and (iv) otherwise having terms permissible for an original grant of a stock option under Plan), (d) stock appreciation rights, (e) Restricted Stock, (f) Deferred Stock, (g) Bonus Stock, (h) awards in lieu of cash obligations, and (i) other Stock-based awards, all of which may, in discretion of committee, be granted either alone or in addition to, in tandem with, or in substitution for, any other award granted under the Plan or any award granted under any other Plan

Puerto Rico Long Term Incentive Plan of Sierra Health Services, Inc. is a comprehensive and well-structured compensation plan designed to attract, retain, and motivate talented employees in the organization. This plan is specifically tailored for Sierra Health Services, Inc.'s operations in Puerto Rico, taking into account the unique characteristics and regulations of the island. The Puerto Rico Long Term Incentive Plan aims to align the interests of employees with the long-term success and growth of the company. By providing attractive incentive packages, Sierra Health Services, Inc. can encourage employees to contribute their skills, knowledge, and efforts towards achieving the organization's strategic goals. Key features of the Puerto Rico Long Term Incentive Plan include: 1. Performance-based compensation: The plan incorporates performance metrics and targets, rewarding employees based on their individual, team, or company-wide achievements. This ensures a fair and transparent process, recognizing and incentivizing exceptional performance. 2. Long-term perspective: The plan focuses on long-term objectives, encouraging employees to remain committed to the company and its strategic vision. By including performance measurement and vesting periods, it promotes loyalty and reduces turnover. 3. Stock-based incentives: The plan may offer stock options, restricted stock units (RSS), or other equity-based compensation. These incentives enable employees to participate in the company's financial success, aligning their interests with those of shareholders. 4. Tax optimization: As Puerto Rico has unique tax laws and benefits, the plan is designed to maximize tax advantages for both the organization and its employees. It takes into account Puerto Rico-specific regulations regarding taxation and offers strategies to optimize the tax implications of the incentives. Types of Puerto Rico Long Term Incentive Plans offered by Sierra Health Services, Inc. may include: 1. Executive Stock Option Plan: This plan is designed for senior executives, granting them the right to purchase company stock at a predetermined price within a specified timeframe. As executives play a critical role in the company's success, this plan aims to retain and motivate key leaders. 2. Performance-Based Bonus Plan: This plan links annual bonuses to predefined performance goals or targets. It can be structured differently for different employee groups, such as executives, managers, or non-executive employees, to provide the appropriate incentives for each level. 3. Restricted Stock Unit Plan: This plan grants eligible employees a specific number of shares over a vesting period. The shares are subject to certain restrictions or conditions, which ensure the continued employment and commitment of the employees. By implementing the Puerto Rico Long Term Incentive Plan, Sierra Health Services, Inc. demonstrates its commitment to recognizing and rewarding employee contributions, encouraging loyalty, promoting long-term growth, and maximizing the organization's competitiveness in Puerto Rico's healthcare industry.