South Carolina Restricted Stock Plan of RPM, Inc.

• Category: Corporations - Public - Stock Options
• State: Multi-State
• Control #: US-CC-18-200A
• Format: Word; Rich Text

Description

18-200A 18-200A . . . Restricted Stock Plan under which (a) Compensation Committee determines those employees of corporation and subsidiaries who are eligible to receive awards of Restricted Shares, (b) Restricted Shares are forfeitable and nontransferable for specified period of time, (c) transfer restrictions remain in place until earliest of (i) later of either employee's termination of employment or lapse of forfeiture restrictions, (ii) change in control with respect to corporation, or (iii) termination of Plan. Restricted Shares are subject to compete forfeiture until earliest to occur of (i) later of either employee's attainment of age 55 or fifth anniversary of May 31st immediately preceding date on which Restricted Shares were awarded, (ii) retirement of employee on or after attainment of age 65, or (iii) change in control with respect to corporation The South Carolina Restricted Stock Plan of RPM, Inc. is a comprehensive employee benefit plan designed to offer eligible employees of RPM, Inc. in South Carolina an opportunity to acquire ownership in the company through the allocation of restricted stock units (RSS). This plan is meant to incentivize and reward employees for their dedication, loyalty, and contribution to the company's success. Under the South Carolina Restricted Stock Plan, eligible employees are granted a specific number of restricted stock units, which represent a future right to receive shares of RPM, Inc.'s stock. This RSS has certain restrictions in place, typically related to time-based vesting schedules or performance-based conditions. Upon meeting the specified conditions, the RSS are converted into actual shares of RPM, Inc.'s stock, thus allowing employees to become shareholders of the company. With the South Carolina Restricted Stock Plan, RPM, Inc. aims to align employees' interests with those of the company, promoting a sense of ownership and engagement. The plan encourages employees to work towards the long-term success of the company, as their rewards are tied directly to RPM, Inc.'s performance. The South Carolina Restricted Stock Plan of RPM, Inc. may offer different types of RSS, depending on the criteria set by the company. These types may include: 1. Time-based vesting RSS: This RSS has a predetermined vesting period, often spanning several years. As employees continue to work for RPM, Inc. throughout the vesting period, the RSS gradually convert into shares. 2. Performance-based RSS: This RSS is tied to specific performance goals or metrics, such as achieving certain financial targets or meeting predetermined growth objectives. Once the set criteria are met, the RSS convert into shares. 3. Restricted Stock Unit Options: This type of RSU provides employees with the flexibility to choose when they want to convert their RSS into shares, within a given timeframe. 4. Dividend Equivalent Units: These RSS offer employees the opportunity to receive dividends as if they held actual shares during the vesting period. The dividends are accumulated and paid out to employees once the RSS convert into shares. It is essential for employees to thoroughly review the terms and conditions of the South Carolina Restricted Stock Plan of RPM, Inc. to understand the specific provisions, eligibility criteria, vesting schedules, and any potential tax implications. By implementing the South Carolina Restricted Stock Plan, RPM, Inc. aims to attract, retain, and motivate talented employees, fostering a sense of ownership and promoting a shared vision of growth and success within the organization.

The South Carolina Restricted Stock Plan of RPM, Inc. is a comprehensive employee benefit plan designed to offer eligible employees of RPM, Inc. in South Carolina an opportunity to acquire ownership in the company through the allocation of restricted stock units (RSS). This plan is meant to incentivize and reward employees for their dedication, loyalty, and contribution to the company's success. Under the South Carolina Restricted Stock Plan, eligible employees are granted a specific number of restricted stock units, which represent a future right to receive shares of RPM, Inc.'s stock. This RSS has certain restrictions in place, typically related to time-based vesting schedules or performance-based conditions. Upon meeting the specified conditions, the RSS are converted into actual shares of RPM, Inc.'s stock, thus allowing employees to become shareholders of the company. With the South Carolina Restricted Stock Plan, RPM, Inc. aims to align employees' interests with those of the company, promoting a sense of ownership and engagement. The plan encourages employees to work towards the long-term success of the company, as their rewards are tied directly to RPM, Inc.'s performance. The South Carolina Restricted Stock Plan of RPM, Inc. may offer different types of RSS, depending on the criteria set by the company. These types may include: 1. Time-based vesting RSS: This RSS has a predetermined vesting period, often spanning several years. As employees continue to work for RPM, Inc. throughout the vesting period, the RSS gradually convert into shares. 2. Performance-based RSS: This RSS is tied to specific performance goals or metrics, such as achieving certain financial targets or meeting predetermined growth objectives. Once the set criteria are met, the RSS convert into shares. 3. Restricted Stock Unit Options: This type of RSU provides employees with the flexibility to choose when they want to convert their RSS into shares, within a given timeframe. 4. Dividend Equivalent Units: These RSS offer employees the opportunity to receive dividends as if they held actual shares during the vesting period. The dividends are accumulated and paid out to employees once the RSS convert into shares. It is essential for employees to thoroughly review the terms and conditions of the South Carolina Restricted Stock Plan of RPM, Inc. to understand the specific provisions, eligibility criteria, vesting schedules, and any potential tax implications. By implementing the South Carolina Restricted Stock Plan, RPM, Inc. aims to attract, retain, and motivate talented employees, fostering a sense of ownership and promoting a shared vision of growth and success within the organization.