The Rhode Island Stock Appreciation Right (SAR) Plan of Helene Curtis Industries, Inc. is a comprehensive program designed to incentivize and reward employees by granting them stock appreciation rights. These rights provide employees with the opportunity to benefit from the value appreciation of the company's stock over a specified period. Under the Rhode Island SAR Plan of Helene Curtis Industries, Inc., employees are granted SARS that allow them to receive cash or stock equal to the appreciation in the company's stock price between the grant date and the exercise date. This serves as a powerful motivation for employees to drive the company's success and align their interests with the shareholders. The plan aims to foster a sense of ownership and commitment among employees, as they have a vested interest in the company's performance and stock price growth. This, in turn, can boost employee morale, engagement, and productivity, ultimately contributing to the company's overall growth and profitability. There are various types of Rhode Island SAR Plans available within Helene Curtis Industries, Inc., which are carefully tailored to meet the needs of specific groups of employees. Some of these plans include: 1. Executive SAR Plan: This plan is specifically designed for top-level executives within the company. It offers higher grant amounts and more favorable terms to align with the significant responsibilities and contributions made by executives. 2. Employee SAR Plan: This plan targets a broader range of employees at different levels within the company. It provides them with SAR grants based on factors such as performance, tenure, and job level. The plan aims to motivate and retain talented employees by offering them a chance to share in the company's success. 3. Long-Term Incentive SAR Plan: This plan focuses on long-term performance goals, typically spanning multiple years. It aims to drive sustained growth and value creation by rewarding employees for achieving strategic milestones and targets. 4. Retention SAR Plan: This plan is tailored to retain key employees with critical skills or in-demand expertise. It provides SAR grants with vesting schedules that encourage employees to stay with the company for a specified period, ensuring stability and continuity within key positions. These different types of Rhode Island SAR Plans offered by Helene Curtis Industries, Inc. cater to the diverse needs and aspirations of its workforce. By providing employees with a stake in the company's success, the plan creates a win-win situation where employees are rewarded for their hard work, and the company benefits from a highly motivated and engaged workforce.
Rhode Island Stock Appreciation Right Plan of Helene Curtis Industries, Inc.
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In February 1996, Helene Curtis agreed to be acquired by Unilever for about $770 million. In contract law, the company is known for the 1963 case Helene Curtis Industries, Inc. v. United States, in which the Superior knowledge doctrine was born.
Stock Appreciation Right (SAR) entitles an employee, who is a shareholder in a company, to a cash payment proportionate to the appreciation of stock traded on a public exchange market. SAR programs provide companies with the flexibility to structure the compensation scheme in a way that suits their beneficiaries.
In 1996, one year after Helene Curtis moved its headquarters to suburban Rolling Meadows, it was purchased by Unilever, the giant British-Dutch corporation. By the end of the century, Unilever announced that it would close the old North Avenue plant, leaving the company with little presence in the Chicago area.
Helene Curtis, which was controlled by the Gidwitz family until it was sold to Unilever for $910 million in 1996, has been manufacturing at the 92-year-old facility since the late 1940s, ing to a Unilever spokesman.