Rhode Island Long Term Incentive Compensation Plan of A.M. Castle and Co.

• Category: Corporations - Public - Incentive Compensation Plans
• State: Multi-State
• Control #: US-CC-20-181
• Format: Word; Rich Text

Description

20-181 20-181 . . . Long Term Incentive Compensation Plan under which Human Resources Committee designates employees who will be participants in Plan and establishes Maximum Award Percentage with respect to each participant for each three year performance cycle. Each participant is entitled to a Performance Award if annual compounded total return (based upon stock appreciation and deemed reinvestment of dividends) on corporation common stock for that performance cycle equals or exceeds 1.5% plus annual compounded total return on common stock of Standard & Poor's 500 Industrials for such period. A participant's Performance Award for a performance cycle is amount equal to product of (a) participant's base salary multiplied by (b) his Maximum Award Percentage multiplied by (c) applicable Attainment Percentage for that performance cycle The Rhode Island Long Term Incentive Compensation Plan of A.M. Castle and Co., commonly referred to as the Rhode Island LTI Plan, is a comprehensive incentive program designed to reward and motivate employees for their long-term contributions and performance within the company. This plan aims to align the interests of employees with the goals and objectives of the company, fostering a sense of ownership and commitment. The Rhode Island LTI Plan consists of several components and types, each tailored to specific categories of employees based on their roles, responsibilities, and performance levels. These types include: 1. Executive LTI Plan: This plan focuses on key executives and senior management personnel within A.M. Castle and Co. It provides a significant portion of their compensation in the form of long-term incentives, such as stock options, restricted stock units (RSS), performance shares, and other equity-based awards. The goal is to reward and retain top talent, aligning their interests with the long-term success of the company. 2. Management LTI Plan: This plan targets middle-level managers and supervisors who play critical roles in driving the company's operational success. It offers a mix of long-term incentives, including performance-based cash bonuses, stock appreciation rights, and performance units. The plan aims to motivate managers to achieve specific performance goals and increase shareholder value. 3. Employee LTI Plan: This plan is designed for all other eligible employees of A.M. Castle and Co., excluding executives and management-level personnel. It includes stock purchase plans, stock options, and performance-based awards, such as employee stock ownership plans (Sops) or cash bonuses tied to company performance metrics. The program promotes employee engagement, encourages loyalty, and provides an opportunity for employees to share in the company's success. The Rhode Island LTI Plan is designed to ensure sustainable performance and align the interests of employees with the company's long-term growth. By incorporating various types of incentives, it caters to the diverse needs and contributions of employees across different levels within A.M. Castle and Co. The plan's flexibility allows the company to nurture a high-performing culture and reward individuals based on their specific roles, while ultimately driving overall success and stakeholder value.

The Rhode Island Long Term Incentive Compensation Plan of A.M. Castle and Co., commonly referred to as the Rhode Island LTI Plan, is a comprehensive incentive program designed to reward and motivate employees for their long-term contributions and performance within the company. This plan aims to align the interests of employees with the goals and objectives of the company, fostering a sense of ownership and commitment. The Rhode Island LTI Plan consists of several components and types, each tailored to specific categories of employees based on their roles, responsibilities, and performance levels. These types include: 1. Executive LTI Plan: This plan focuses on key executives and senior management personnel within A.M. Castle and Co. It provides a significant portion of their compensation in the form of long-term incentives, such as stock options, restricted stock units (RSS), performance shares, and other equity-based awards. The goal is to reward and retain top talent, aligning their interests with the long-term success of the company. 2. Management LTI Plan: This plan targets middle-level managers and supervisors who play critical roles in driving the company's operational success. It offers a mix of long-term incentives, including performance-based cash bonuses, stock appreciation rights, and performance units. The plan aims to motivate managers to achieve specific performance goals and increase shareholder value. 3. Employee LTI Plan: This plan is designed for all other eligible employees of A.M. Castle and Co., excluding executives and management-level personnel. It includes stock purchase plans, stock options, and performance-based awards, such as employee stock ownership plans (Sops) or cash bonuses tied to company performance metrics. The program promotes employee engagement, encourages loyalty, and provides an opportunity for employees to share in the company's success. The Rhode Island LTI Plan is designed to ensure sustainable performance and align the interests of employees with the company's long-term growth. By incorporating various types of incentives, it caters to the diverse needs and contributions of employees across different levels within A.M. Castle and Co. The plan's flexibility allows the company to nurture a high-performing culture and reward individuals based on their specific roles, while ultimately driving overall success and stakeholder value.