South Dakota 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 Dakota Restricted Stock Plan of Bandstand Corp. is a program designed to offer employees of Bandstand Corp. an opportunity to acquire and hold shares of the company's stock. This plan is specifically applicable to employees who are based in South Dakota and serves as an incentive to encourage employee retention and share in the growth and success of the corporation. Under the South Dakota Restricted Stock Plan, eligible employees may be granted restricted stock awards. These awards are granted at the discretion of the company's board of directors and are subject to certain restrictions and conditions. The purpose of these restrictions is to align the interests of employees with the long-term success of the company and ensure employee commitment and dedication. The South Dakota Restricted Stock Plan allows eligible employees to receive shares of the company's stock, which are subject to certain vesting requirements. Vesting typically occurs over a specified period of time, ensuring that employees remain with the company for a certain duration before fully benefiting from the awarded stock. There may be different types of South Dakota Restricted Stock Plan options available within Bandstand Corp., depending on the specific terms and conditions set by the board of directors. These options may include: 1. Performance-Based Restricted Stock: This type of plan may require employees to meet certain performance targets or financial goals before the stock is vested. This ensures that employees are motivated to achieve specific objectives that align with the company's strategic objectives. 2. Time-Based Restricted Stock: In this type of plan, the vesting of shares is tied to the duration of an employee's service with the company. Shares are typically vested incrementally over a specific time period, such as annually or quarterly. This encourages long-term employment and loyalty among employees. 3. Restricted Stock Units (RSS): Bandstand Corp. may also offer RSS as part of their South Dakota Restricted Stock Plan. RSS represents a promise to deliver shares of the company's stock to an employee at a future date, subject to vesting conditions. RSS provides a similar incentive as restricted stock awards, but without the immediate ownership of the underlying shares. Employees who participate in the South Dakota Restricted Stock Plan may enjoy several benefits, including potential capital gains from the appreciation of the stock, dividend payments, and potential voting rights. However, it is essential for employees to fully understand the terms and conditions of the plan to make informed decisions about their participation and potential benefits. Overall, the South Dakota Restricted Stock Plan of Bandstand Corp. offers eligible employees in South Dakota an opportunity to acquire and hold shares of the company's stock as a form of compensation and incentive. The plan aims to align the interests of employees with the company's long-term success while providing potential financial rewards.

The South Dakota Restricted Stock Plan of Bandstand Corp. is a program designed to offer employees of Bandstand Corp. an opportunity to acquire and hold shares of the company's stock. This plan is specifically applicable to employees who are based in South Dakota and serves as an incentive to encourage employee retention and share in the growth and success of the corporation. Under the South Dakota Restricted Stock Plan, eligible employees may be granted restricted stock awards. These awards are granted at the discretion of the company's board of directors and are subject to certain restrictions and conditions. The purpose of these restrictions is to align the interests of employees with the long-term success of the company and ensure employee commitment and dedication. The South Dakota Restricted Stock Plan allows eligible employees to receive shares of the company's stock, which are subject to certain vesting requirements. Vesting typically occurs over a specified period of time, ensuring that employees remain with the company for a certain duration before fully benefiting from the awarded stock. There may be different types of South Dakota Restricted Stock Plan options available within Bandstand Corp., depending on the specific terms and conditions set by the board of directors. These options may include: 1. Performance-Based Restricted Stock: This type of plan may require employees to meet certain performance targets or financial goals before the stock is vested. This ensures that employees are motivated to achieve specific objectives that align with the company's strategic objectives. 2. Time-Based Restricted Stock: In this type of plan, the vesting of shares is tied to the duration of an employee's service with the company. Shares are typically vested incrementally over a specific time period, such as annually or quarterly. This encourages long-term employment and loyalty among employees. 3. Restricted Stock Units (RSS): Bandstand Corp. may also offer RSS as part of their South Dakota Restricted Stock Plan. RSS represents a promise to deliver shares of the company's stock to an employee at a future date, subject to vesting conditions. RSS provides a similar incentive as restricted stock awards, but without the immediate ownership of the underlying shares. Employees who participate in the South Dakota Restricted Stock Plan may enjoy several benefits, including potential capital gains from the appreciation of the stock, dividend payments, and potential voting rights. However, it is essential for employees to fully understand the terms and conditions of the plan to make informed decisions about their participation and potential benefits. Overall, the South Dakota Restricted Stock Plan of Bandstand Corp. offers eligible employees in South Dakota an opportunity to acquire and hold shares of the company's stock as a form of compensation and incentive. The plan aims to align the interests of employees with the company's long-term success while providing potential financial rewards.