Texas 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 Texas Long Term Incentive Compensation Plan of A.M. Castle and Co. is a comprehensive program designed to reward and incentivize employees based in Texas for their long-term performance and contributions to the company's growth. This plan serves as a vital tool in attracting, retaining, and motivating talented individuals who play a crucial role in the success of A.M. Castle and Co. One of the primary objectives of the Texas Long Term Incentive Compensation Plan is to align the interests of employees with those of the company's shareholders. By offering a long-term rewards structure, the plan encourages employees to focus on sustainable growth, profitability, and value creation, fostering a culture of ownership and accountability within the organization. The plan comprises various types of incentives tailored to reward performance and achievements over a specified period. These include stock options, restricted stock units (RSS), performance shares, and cash-based awards. Each type of incentive is designed to cater to different objectives and timelines, ensuring a well-rounded compensation approach. Stock options provide employees with the right to purchase company stock at a predetermined price over a specified period. This incentivizes employees to contribute to the company's long-term financial success, as the value of their options increases with improved stock performance. This aligns employee efforts with the company's overall growth and shareholder value creation goals. Restricted stock units (RSS) grant employees the right to receive company shares at a future date, subject to certain conditions. These conditions may include continued employment or achieving specific performance targets. RSS provide employees with a sense of ownership and motivate them to contribute to the company's long-term success, as they share in the value appreciation of the company's stock. Performance shares are another component of the Texas Long Term Incentive Compensation Plan. These awards are tied to predetermined performance goals, such as revenue growth, earnings per share, or return on investment. If the company attains these goals, employees receive a predetermined number of shares. This ensures that employees are rewarded for contributing to the company's strategic objectives and financial performance. Cash-based awards are provided under this plan to recognize exceptional individual performance or contributions to specific projects or initiatives. These awards may be tied to qualitative or quantitative performance metrics and are an additional means of acknowledging and rewarding exceptional employee efforts. Overall, the Texas Long Term Incentive Compensation Plan of A.M. Castle and Co. is a multifaceted initiative focused on attracting, retaining, and motivating talented employees based in Texas. By employing various types of incentives such as stock options, RSS, performance shares, and cash-based awards, A.M. Castle and Co. ensures that its employees remain incentivized and committed to the long-term success and growth of the company.

The Texas Long Term Incentive Compensation Plan of A.M. Castle and Co. is a comprehensive program designed to reward and incentivize employees based in Texas for their long-term performance and contributions to the company's growth. This plan serves as a vital tool in attracting, retaining, and motivating talented individuals who play a crucial role in the success of A.M. Castle and Co. One of the primary objectives of the Texas Long Term Incentive Compensation Plan is to align the interests of employees with those of the company's shareholders. By offering a long-term rewards structure, the plan encourages employees to focus on sustainable growth, profitability, and value creation, fostering a culture of ownership and accountability within the organization. The plan comprises various types of incentives tailored to reward performance and achievements over a specified period. These include stock options, restricted stock units (RSS), performance shares, and cash-based awards. Each type of incentive is designed to cater to different objectives and timelines, ensuring a well-rounded compensation approach. Stock options provide employees with the right to purchase company stock at a predetermined price over a specified period. This incentivizes employees to contribute to the company's long-term financial success, as the value of their options increases with improved stock performance. This aligns employee efforts with the company's overall growth and shareholder value creation goals. Restricted stock units (RSS) grant employees the right to receive company shares at a future date, subject to certain conditions. These conditions may include continued employment or achieving specific performance targets. RSS provide employees with a sense of ownership and motivate them to contribute to the company's long-term success, as they share in the value appreciation of the company's stock. Performance shares are another component of the Texas Long Term Incentive Compensation Plan. These awards are tied to predetermined performance goals, such as revenue growth, earnings per share, or return on investment. If the company attains these goals, employees receive a predetermined number of shares. This ensures that employees are rewarded for contributing to the company's strategic objectives and financial performance. Cash-based awards are provided under this plan to recognize exceptional individual performance or contributions to specific projects or initiatives. These awards may be tied to qualitative or quantitative performance metrics and are an additional means of acknowledging and rewarding exceptional employee efforts. Overall, the Texas Long Term Incentive Compensation Plan of A.M. Castle and Co. is a multifaceted initiative focused on attracting, retaining, and motivating talented employees based in Texas. By employing various types of incentives such as stock options, RSS, performance shares, and cash-based awards, A.M. Castle and Co. ensures that its employees remain incentivized and committed to the long-term success and growth of the company.