South Carolina 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 South Carolina Restricted Stock Plan of Bandstand Corp. is a comprehensive program that allows employees of the company to acquire and own company stocks under certain restrictions. This plan is designed to provide employees with an opportunity to become shareholders and benefit from the growth and success of Bandstand Corp. The South Carolina Restricted Stock Plan aims to motivate and reward employees for their dedication and contributions to the company's overall performance. By offering restricted stock units (RSS), Bandstand Corp. provides a valuable long-term incentive to its employees. Under this plan, employees are granted a certain number of RSS based on their performance, position, or other predetermined criteria. This RSS represents an ownership interest in the company, but they are subject to specific restrictions and conditions. The restrictions typically include a vesting period, during which the employee must meet certain employment requirements to become fully vested in the stock units. Once the vesting period is completed, the RSS convert into actual shares of the company's stock, and the employee becomes a shareholder with all the associated rights, including voting rights and the potential to receive dividends. The South Carolina Restricted Stock Plan thus offers a compelling opportunity for employees to align their interests with those of Bandstand Corp. and benefit directly from its success. There may be different types of South Carolina Restricted Stock Plans available within Bandstand Corp., depending on the specific terms and conditions set by the company. For example, there could be plans specifically tailored for executives or managers, which may offer different vesting schedules or performance criteria compared to plans for non-executive employees. In conclusion, the South Carolina Restricted Stock Plan of Bandstand Corp. is a valuable employee benefit program that allows eligible employees to acquire ownership in the company. It is designed to foster a sense of ownership and alignment among employees while providing them with a long-term incentive to contribute to the company's growth and success.

The South Carolina Restricted Stock Plan of Bandstand Corp. is a comprehensive program that allows employees of the company to acquire and own company stocks under certain restrictions. This plan is designed to provide employees with an opportunity to become shareholders and benefit from the growth and success of Bandstand Corp. The South Carolina Restricted Stock Plan aims to motivate and reward employees for their dedication and contributions to the company's overall performance. By offering restricted stock units (RSS), Bandstand Corp. provides a valuable long-term incentive to its employees. Under this plan, employees are granted a certain number of RSS based on their performance, position, or other predetermined criteria. This RSS represents an ownership interest in the company, but they are subject to specific restrictions and conditions. The restrictions typically include a vesting period, during which the employee must meet certain employment requirements to become fully vested in the stock units. Once the vesting period is completed, the RSS convert into actual shares of the company's stock, and the employee becomes a shareholder with all the associated rights, including voting rights and the potential to receive dividends. The South Carolina Restricted Stock Plan thus offers a compelling opportunity for employees to align their interests with those of Bandstand Corp. and benefit directly from its success. There may be different types of South Carolina Restricted Stock Plans available within Bandstand Corp., depending on the specific terms and conditions set by the company. For example, there could be plans specifically tailored for executives or managers, which may offer different vesting schedules or performance criteria compared to plans for non-executive employees. In conclusion, the South Carolina Restricted Stock Plan of Bandstand Corp. is a valuable employee benefit program that allows eligible employees to acquire ownership in the company. It is designed to foster a sense of ownership and alignment among employees while providing them with a long-term incentive to contribute to the company's growth and success.