Rhode Island Restricted Stock Plan of Sundstrand Corp.

• Category: Corporations - Public - Incentive Compensation Plans
• State: Multi-State
• Control #: US-CC-20-171D
• Format: Word; Rich Text

Description

20-171D 20-171D . . . Restricted Stock Plan under which a committee of Board of Directors sells shares of common stock to certain officers and senior employees at a price substantially below current market price. The shares are subject to following restrictions: (a) prohibition against any sale or other transfer and (b) obligation that participant (at corporation's option) must resell shares to corporation at price he paid for them if he ceases to be employed by corporation prior to expiration of from five to nine years after shares were sold to him, for reasons other than normal retirement, death, total disability or early retirement with consent of Board or committee. Except as otherwise provided, restrictions lapse as to 1/5 of aggregate number of participant's shares at expiration or each of fifth through ninth years after his purchase of such shares The Rhode Island Restricted Stock Plan of Bandstand Corp. is a comprehensive employee benefit program that provides eligible employees with the opportunity to acquire and hold shares of Bandstand Corp. stock. This plan aims to incentivize employees, promote loyalty, and align their interests with the long-term success of the company. Under the Rhode Island Restricted Stock Plan, employees are granted restricted stock units (RSS) as a form of compensation. RSS represents a right to receive a specified number of shares of Bandstand Corp. stock over time, subject to certain vesting requirements. The RSS are typically granted to employees at no cost and are subject to forfeiture if the employee leaves the company before they fully vest. One of the key features of the Rhode Island Restricted Stock Plan is that it offers employees the opportunity to participate in the company's growth and value appreciation. As the stock price of Bandstand Corp. increases, so does the value of the RSS held by employees. This creates a powerful incentive for employees to contribute to the company's success. The plan also provides flexibility in terms of when and how employees can sell the shares they acquire through the RSS. While there may be certain restrictions during the vesting period, employees can typically choose to sell their shares at their discretion after they have fully vested. This allows employees to take advantage of potential gains in the stock price or hold onto the shares as a long-term investment. It is worth noting that the Rhode Island Restricted Stock Plan may have variations or different types depending on the specific employee group or seniority level. For instance, there might be executive restricted stock plans that offer additional benefits or different vesting schedules tailored to high-ranking executives within Bandstand Corp. Overall, the Rhode Island Restricted Stock Plan of Bandstand Corp. serves as an effective tool for attracting, motivating, and retaining talented employees. By granting employees a stake in the company's ownership, the plan encourages a sense of ownership and dedication, leading to increased productivity and overall alignment with the company's goals.

The Rhode Island Restricted Stock Plan of Bandstand Corp. is a comprehensive employee benefit program that provides eligible employees with the opportunity to acquire and hold shares of Bandstand Corp. stock. This plan aims to incentivize employees, promote loyalty, and align their interests with the long-term success of the company. Under the Rhode Island Restricted Stock Plan, employees are granted restricted stock units (RSS) as a form of compensation. RSS represents a right to receive a specified number of shares of Bandstand Corp. stock over time, subject to certain vesting requirements. The RSS are typically granted to employees at no cost and are subject to forfeiture if the employee leaves the company before they fully vest. One of the key features of the Rhode Island Restricted Stock Plan is that it offers employees the opportunity to participate in the company's growth and value appreciation. As the stock price of Bandstand Corp. increases, so does the value of the RSS held by employees. This creates a powerful incentive for employees to contribute to the company's success. The plan also provides flexibility in terms of when and how employees can sell the shares they acquire through the RSS. While there may be certain restrictions during the vesting period, employees can typically choose to sell their shares at their discretion after they have fully vested. This allows employees to take advantage of potential gains in the stock price or hold onto the shares as a long-term investment. It is worth noting that the Rhode Island Restricted Stock Plan may have variations or different types depending on the specific employee group or seniority level. For instance, there might be executive restricted stock plans that offer additional benefits or different vesting schedules tailored to high-ranking executives within Bandstand Corp. Overall, the Rhode Island Restricted Stock Plan of Bandstand Corp. serves as an effective tool for attracting, motivating, and retaining talented employees. By granting employees a stake in the company's ownership, the plan encourages a sense of ownership and dedication, leading to increased productivity and overall alignment with the company's goals.