South Dakota Approval of Restricted Stock Award Plan for Coca-Cola Enterprises, Inc. is a comprehensive and detailed plan designed to incentivize employees and align their interests with the company's long-term growth. This plan encompasses various types of awards, each with specific terms and conditions to ensure fair distribution and maximize shareholders' value. One type of award included under the South Dakota Approval of Restricted Stock Award Plan for Coca-Cola Enterprises, Inc. is the Performance-Based Restricted Stock Award. These awards are granted to key employees based on achieving predefined performance targets, such as revenue growth, market share gains, or profitability. By linking the award to specific performance metrics, this type of plan encourages employees to actively contribute to the company's success. Another type of award is the Time-Based Restricted Stock Award. These awards are granted to employees based on the length of their service with the company. They typically vest over a certain period, providing an incentive for employees to remain with the company and contribute to its growth and development over the long term. Furthermore, the South Dakota Approval of Restricted Stock Award Plan for Coca-Cola Enterprises, Inc. may also include Dividend Equivalent Rights. These rights enable employees to receive cash payments or additional stock equal to the dividends paid on their restricted stock awards during the vesting period. This feature ensures that employees can benefit from the company's success, even before the stock awards fully vest. The plan accounts for potential changes in control or merger events. In such cases, accelerated vesting or adjustments may be implemented to protect the employees' interests and provide them with fair compensation. To ensure compliance with legal and regulatory requirements, the South Dakota Approval of Restricted Stock Award Plan for Coca-Cola Enterprises, Inc. is subject to approval by relevant authorities in South Dakota. This approval process ensures that the plan adheres to state-specific laws and regulations, safeguarding the interests of both employees and shareholders alike. In conclusion, the South Dakota Approval of Restricted Stock Award Plan for Coca-Cola Enterprises, Inc. is a comprehensive and sophisticated program designed to motivate and retain employees while aligning their interests with the company's overall success. By offering different types of awards, such as Performance-Based or Time-Based Restricted Stock Awards, along with Dividend Equivalent Rights, this plan instills a sense of ownership and encourages employees to contribute to the company's long-term growth and profitability.
South Dakota Approval of Restricted Stock Award Plan for Coca-Cola Enterprises, Inc.
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In 2003, the Company established a program to grant performance share units under The Coca-Cola Company 1989 Restricted Stock Award Plan to executives. In 2008, the Company expanded the program to award a mix of stock options and performance share units to eligible employees in addition to executives.
Stock based compensation is a kind of compensation given by companies to their employees in the form of equity shares besides the regular cash or salary and bonuses they receive. The executives who are given stock based compensation can benefit only if they serve the company for a specified period.
Our Company grants stock options and restricted stock awards to certain employees of the Company.
CocaCola stock-based compensation for the twelve months ending June 30, 2023 was $807M, a 4.95% decline year-over-year. CocaCola annual stock-based compensation for 2022 was $0.356B, a 5.64% increase from 2021.