Rhode Island 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 Rhode Island Restricted Stock Plan is a compensation program offered by Guilford Mills, Inc. to its employees in Rhode Island. This plan allows eligible employees to receive company stock as a form of reward or incentive for their contribution and loyalty. The program aims to align the interests of employees with shareholders, fostering a sense of ownership and encouraging long-term commitment. Under the Rhode Island Restricted Stock Plan of Guilford Mills, Inc., employees are granted restricted stock units (RSS) instead of traditional stock options. RSS is a form of equity compensation that represents the right to receive company stock at a later date. However, the stock is subject to certain restrictions and vesting conditions. This RSS has a specific vesting period, during which employees must fulfill predetermined requirements, such as remaining employed for a certain number of years or achieving performance targets. Once the RSS vest, employees have the right to receive the company stock or its equivalent cash value. By implementing the Rhode Island Restricted Stock Plan, Guilford Mills, Inc. aims to provide employees with the opportunity to share in the company's success and participate in its growth. It also helps retain talented individuals by offering a valuable long-term incentive. It's important to note that the Rhode Island Restricted Stock Plan of Guilford Mills, Inc. may have different tiers or variations. Some employees may be eligible for a 401(k) retirement plan with a matching contribution from the company, while others may have stock purchase plans available to them. Overall, the Rhode Island Restricted Stock Plan of Guilford Mills, Inc. serves as a strategic tool for attracting, motivating, and retaining employees by providing them with a tangible stake in the company's performance. It offers a flexible and versatile compensation option that can align the interests of employees with those of the organization and its shareholders.

Rhode Island Restricted Stock Plan is a compensation program offered by Guilford Mills, Inc. to its employees in Rhode Island. This plan allows eligible employees to receive company stock as a form of reward or incentive for their contribution and loyalty. The program aims to align the interests of employees with shareholders, fostering a sense of ownership and encouraging long-term commitment. Under the Rhode Island Restricted Stock Plan of Guilford Mills, Inc., employees are granted restricted stock units (RSS) instead of traditional stock options. RSS is a form of equity compensation that represents the right to receive company stock at a later date. However, the stock is subject to certain restrictions and vesting conditions. This RSS has a specific vesting period, during which employees must fulfill predetermined requirements, such as remaining employed for a certain number of years or achieving performance targets. Once the RSS vest, employees have the right to receive the company stock or its equivalent cash value. By implementing the Rhode Island Restricted Stock Plan, Guilford Mills, Inc. aims to provide employees with the opportunity to share in the company's success and participate in its growth. It also helps retain talented individuals by offering a valuable long-term incentive. It's important to note that the Rhode Island Restricted Stock Plan of Guilford Mills, Inc. may have different tiers or variations. Some employees may be eligible for a 401(k) retirement plan with a matching contribution from the company, while others may have stock purchase plans available to them. Overall, the Rhode Island Restricted Stock Plan of Guilford Mills, Inc. serves as a strategic tool for attracting, motivating, and retaining employees by providing them with a tangible stake in the company's performance. It offers a flexible and versatile compensation option that can align the interests of employees with those of the organization and its shareholders.