South Dakota 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 South Dakota Long Term Incentive Compensation Plan of A.M. Castle and Co. is a comprehensive program designed to reward and retain key employees over an extended period. This plan is specifically tailored for employees in South Dakota and aims to provide them with additional motivation and incentives to achieve both individual and company-wide performance goals. One of the primary objectives of the South Dakota Long Term Incentive Compensation Plan is to align the interests of employees with the long-term success of A.M. Castle and Co. It achieves this by incorporating various performance-based metrics and goals that must be fulfilled for participants to receive compensation. These metrics can encompass different factors such as financial performance, revenue growth, cost management, customer satisfaction, and other strategic objectives. The plan offers different types of incentives to participants, such as stock options, restricted stock units (RSS), performance shares, and cash bonuses. Each incentive type is designed to suit specific roles and levels within the organization, ensuring that employees from various departments and positions are incentivized accordingly. Stock options are a key component of the South Dakota Long Term Incentive Compensation Plan, allowing participants to purchase company stock at a predetermined price within a specified timeframe. This offers employees the opportunity to benefit from the company's long-term growth and value appreciation. Restricted stock units (RSS) provide employees with actual company shares that are subject to specific vesting conditions. Once these conditions are met, employees receive ownership of the shares, allowing them to benefit from any future increases in stock price. Performance shares are another type of incentive offered under the plan, where employees are granted shares based on their ability to achieve predetermined performance targets. These targets are often aligned with the company's strategic objectives and are evaluated over a specified performance period. Cash bonuses are also included in the South Dakota Long Term Incentive Compensation Plan to reward exceptional individual and team performance. These bonuses are typically based on predefined performance criteria and can be granted annually or over multiple years, depending on the program structure. Overall, the South Dakota Long Term Incentive Compensation Plan of A.M. Castle and Co. aims to promote employee engagement, foster loyalty, and drive long-term value creation for both individuals and the company. By recognizing and rewarding outstanding performance, the plan ensures a motivated and dedicated workforce that contributes to the organization's sustainable growth and success.

The South Dakota Long Term Incentive Compensation Plan of A.M. Castle and Co. is a comprehensive program designed to reward and retain key employees over an extended period. This plan is specifically tailored for employees in South Dakota and aims to provide them with additional motivation and incentives to achieve both individual and company-wide performance goals. One of the primary objectives of the South Dakota Long Term Incentive Compensation Plan is to align the interests of employees with the long-term success of A.M. Castle and Co. It achieves this by incorporating various performance-based metrics and goals that must be fulfilled for participants to receive compensation. These metrics can encompass different factors such as financial performance, revenue growth, cost management, customer satisfaction, and other strategic objectives. The plan offers different types of incentives to participants, such as stock options, restricted stock units (RSS), performance shares, and cash bonuses. Each incentive type is designed to suit specific roles and levels within the organization, ensuring that employees from various departments and positions are incentivized accordingly. Stock options are a key component of the South Dakota Long Term Incentive Compensation Plan, allowing participants to purchase company stock at a predetermined price within a specified timeframe. This offers employees the opportunity to benefit from the company's long-term growth and value appreciation. Restricted stock units (RSS) provide employees with actual company shares that are subject to specific vesting conditions. Once these conditions are met, employees receive ownership of the shares, allowing them to benefit from any future increases in stock price. Performance shares are another type of incentive offered under the plan, where employees are granted shares based on their ability to achieve predetermined performance targets. These targets are often aligned with the company's strategic objectives and are evaluated over a specified performance period. Cash bonuses are also included in the South Dakota Long Term Incentive Compensation Plan to reward exceptional individual and team performance. These bonuses are typically based on predefined performance criteria and can be granted annually or over multiple years, depending on the program structure. Overall, the South Dakota Long Term Incentive Compensation Plan of A.M. Castle and Co. aims to promote employee engagement, foster loyalty, and drive long-term value creation for both individuals and the company. By recognizing and rewarding outstanding performance, the plan ensures a motivated and dedicated workforce that contributes to the organization's sustainable growth and success.