Tennessee 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 Tennessee Restricted Stock Plan of RPM, Inc. is a comprehensive stock compensation program offered by RPM, Inc., a renowned company operating in Tennessee. This plan is designed to provide eligible employees with restricted stock grants as a form of long-term compensation and incentivize their performance and loyalty to the company. By offering restricted stock grants, RPM, Inc. aims to align the interests of its employees with the success and growth of the company. Under the Tennessee Restricted Stock Plan, eligible employees receive shares of company stock, subject to certain restrictions and conditions. These restrictions may include forfeiture clauses, vesting schedules, and other provisions that ensure the employees' continued commitment and dedication to RPM, Inc. The purpose of these restrictions is to motivate employees to contribute their best efforts towards the company's objectives, as the value of the restricted stock is tied to the company's performance and stock price. Key features of the Tennessee Restricted Stock Plan include: 1. Eligibility: The plan may be available to certain categories of employees, such as executives, managers, directors, or key employees who meet specific criteria outlined by RPM, Inc. 2. Vesting Schedule: The restricted stock granted to employees typically follows a pre-determined vesting schedule, which means that the shares become fully transferable or convertible over a specified timeframe. This schedule may be based on the employee's tenure with the company or achievement of predetermined performance targets. 3. Restricted Period: During the restricted period, employees may be subject to certain limitations on the transferability of the granted shares. This period aims to encourage employees to remain actively engaged with the company, as their stocks have limited liquidity until the restrictions lapse. 4. Performance Criteria: In some cases, the grant of restricted stock is contingent upon the employee meeting specific performance criteria or achieving predetermined goals established by RPM, Inc. This incentivizes employees to drive the company's success and rewards them accordingly. 5. Tax Implications: The Tennessee Restricted Stock Plan also considers the tax implications for employees. Certain tax treatment may be applied, such as allowing employees to delay the recognition of income until the restricted stock vests or meets specific triggering events. Tax considerations can vary depending on the employee's individual circumstances and applicable laws. It's important to note that there may be different variations or types of the Tennessee Restricted Stock Plan offered by RPM, Inc. These variations could include plan modifications for different employee groups, such as executives, non-executives, or international employees, each with their own unique eligibility criteria, vesting schedules, and performance targets. The specific details and terms of each variation are communicated to eligible employees through plan documents, including the plan's formal agreement and its related guidelines. In conclusion, the Tennessee Restricted Stock Plan of RPM, Inc. is a comprehensive compensation program designed to enhance employee motivation and retention. By providing restricted stock grants, RPM, Inc. aligns the interests of its employees with the company's growth and success. The plan includes features such as eligibility criteria, vesting schedules, restricted periods, performance criteria, and tax implications. Different variations of the plan may exist, catering to various employee groups with tailored terms and conditions.

The Tennessee Restricted Stock Plan of RPM, Inc. is a comprehensive stock compensation program offered by RPM, Inc., a renowned company operating in Tennessee. This plan is designed to provide eligible employees with restricted stock grants as a form of long-term compensation and incentivize their performance and loyalty to the company. By offering restricted stock grants, RPM, Inc. aims to align the interests of its employees with the success and growth of the company. Under the Tennessee Restricted Stock Plan, eligible employees receive shares of company stock, subject to certain restrictions and conditions. These restrictions may include forfeiture clauses, vesting schedules, and other provisions that ensure the employees' continued commitment and dedication to RPM, Inc. The purpose of these restrictions is to motivate employees to contribute their best efforts towards the company's objectives, as the value of the restricted stock is tied to the company's performance and stock price. Key features of the Tennessee Restricted Stock Plan include: 1. Eligibility: The plan may be available to certain categories of employees, such as executives, managers, directors, or key employees who meet specific criteria outlined by RPM, Inc. 2. Vesting Schedule: The restricted stock granted to employees typically follows a pre-determined vesting schedule, which means that the shares become fully transferable or convertible over a specified timeframe. This schedule may be based on the employee's tenure with the company or achievement of predetermined performance targets. 3. Restricted Period: During the restricted period, employees may be subject to certain limitations on the transferability of the granted shares. This period aims to encourage employees to remain actively engaged with the company, as their stocks have limited liquidity until the restrictions lapse. 4. Performance Criteria: In some cases, the grant of restricted stock is contingent upon the employee meeting specific performance criteria or achieving predetermined goals established by RPM, Inc. This incentivizes employees to drive the company's success and rewards them accordingly. 5. Tax Implications: The Tennessee Restricted Stock Plan also considers the tax implications for employees. Certain tax treatment may be applied, such as allowing employees to delay the recognition of income until the restricted stock vests or meets specific triggering events. Tax considerations can vary depending on the employee's individual circumstances and applicable laws. It's important to note that there may be different variations or types of the Tennessee Restricted Stock Plan offered by RPM, Inc. These variations could include plan modifications for different employee groups, such as executives, non-executives, or international employees, each with their own unique eligibility criteria, vesting schedules, and performance targets. The specific details and terms of each variation are communicated to eligible employees through plan documents, including the plan's formal agreement and its related guidelines. In conclusion, the Tennessee Restricted Stock Plan of RPM, Inc. is a comprehensive compensation program designed to enhance employee motivation and retention. By providing restricted stock grants, RPM, Inc. aligns the interests of its employees with the company's growth and success. The plan includes features such as eligibility criteria, vesting schedules, restricted periods, performance criteria, and tax implications. Different variations of the plan may exist, catering to various employee groups with tailored terms and conditions.