Puerto Rico Restricted Stock Plan of Guilford Mills, Inc.

• Category: Corporations - Public - Incentive Compensation Plans
• State: Multi-State
• Control #: US-CC-20-170A
• Format: Word; Rich Text

Description

20-170A 20-170A . . . Restricted Stock Plan under which Compensation Committee grants awards of shares of common stock in accordance with terms and conditions set forth in agreement between corporation and participant. Each Stock Agreement contains such individual and corporate performance goals, restrictions, terms and conditions as Compensation Committee may require including price, if any, which participant shall be required to pay for shares Puerto Rico Restricted Stock Plan of Guilford Mills, Inc. is a unique employee compensation program offered by Guilford Mills, Inc. specifically designed for their employees working in Puerto Rico. This plan enables eligible employees to acquire company shares at a preferred price or receive stock grants as a form of incentive. The Puerto Rico Restricted Stock Plan offers several types of stock-based awards to employees, each with its own set of conditions and benefits. These types include: 1. Restricted Stock Units (RSS): RSS are grants of company stock to employees, which are subject to certain restrictions. These restrictions typically include a vesting period, during which the employee must meet specific conditions, such as remaining with the company for a certain period or achieving predetermined performance targets. Until the restrictions are lifted, the employee does not actually own the stock. 2. Stock Options: Stock options allow employees to purchase company stock at a predetermined price, known as the exercise price or strike price, within a specified time frame. Employees are granted the option to buy a set number of shares, and if the stock price rises above the exercise price, they can realize a profit by exercising their options. 3. Performance Shares: This type of award is tied to the achievement of specific performance goals or targets. Employees may receive a grant of shares based on company-wide performance, divisional performance, or individual performance metrics. The number of shares received depends on the level of performance achieved. 4. Stock Appreciation Rights (SARS): SARS provide employees with the opportunity to receive the appreciation in the value of a specified number of shares over a predetermined period. When the stock price increases, employees can choose to receive either cash or an equivalent number of shares. 5. Employee Stock Purchase Plan (ESPN): Although not solely restricted to Puerto Rico, ESPN are commonly used in compensation packages. ESPN allow employees to purchase company stock at a discounted price, often through payroll deductions. This enables employees to become shareholders and participate in the company's growth. Guilford Mills, Inc.'s Puerto Rico Restricted Stock Plan aims to promote employee retention, motivation, and engagement by providing employees in Puerto Rico with an opportunity to become shareholders in the company. It aligns the interests of employees with those of the company, creating a sense of ownership and fostering long-term commitment.

Puerto Rico Restricted Stock Plan of Guilford Mills, Inc. is a unique employee compensation program offered by Guilford Mills, Inc. specifically designed for their employees working in Puerto Rico. This plan enables eligible employees to acquire company shares at a preferred price or receive stock grants as a form of incentive. The Puerto Rico Restricted Stock Plan offers several types of stock-based awards to employees, each with its own set of conditions and benefits. These types include: 1. Restricted Stock Units (RSS): RSS are grants of company stock to employees, which are subject to certain restrictions. These restrictions typically include a vesting period, during which the employee must meet specific conditions, such as remaining with the company for a certain period or achieving predetermined performance targets. Until the restrictions are lifted, the employee does not actually own the stock. 2. Stock Options: Stock options allow employees to purchase company stock at a predetermined price, known as the exercise price or strike price, within a specified time frame. Employees are granted the option to buy a set number of shares, and if the stock price rises above the exercise price, they can realize a profit by exercising their options. 3. Performance Shares: This type of award is tied to the achievement of specific performance goals or targets. Employees may receive a grant of shares based on company-wide performance, divisional performance, or individual performance metrics. The number of shares received depends on the level of performance achieved. 4. Stock Appreciation Rights (SARS): SARS provide employees with the opportunity to receive the appreciation in the value of a specified number of shares over a predetermined period. When the stock price increases, employees can choose to receive either cash or an equivalent number of shares. 5. Employee Stock Purchase Plan (ESPN): Although not solely restricted to Puerto Rico, ESPN are commonly used in compensation packages. ESPN allow employees to purchase company stock at a discounted price, often through payroll deductions. This enables employees to become shareholders and participate in the company's growth. Guilford Mills, Inc.'s Puerto Rico Restricted Stock Plan aims to promote employee retention, motivation, and engagement by providing employees in Puerto Rico with an opportunity to become shareholders in the company. It aligns the interests of employees with those of the company, creating a sense of ownership and fostering long-term commitment.