Utah 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 Utah Restricted Stock Plan of RPM, Inc. is a unique employee compensation structure that provides eligible employees with an opportunity to own company stock while subject to specific restrictions. This plan is designed to reward and motivate employees by aligning their interests with those of RPM, Inc. and encouraging long-term dedication to the company's growth and success. Under the Utah Restricted Stock Plan, eligible employees are granted restricted stock units (RSS) as a form of compensation. This RSS represents a specific number of shares of RPM, Inc. stock and are typically subject to certain vesting conditions and time-based restrictions. Upon meeting the vesting requirements, employees gain full ownership of the granted shares. One type of Utah Restricted Stock Plan provided by RPM, Inc. is the time-based vesting plan. In this structure, employees acquire ownership of their RSS over a predetermined period, such as three or four years. The RSS may vest in equal increments or according to a specific schedule, creating an incentive for employees to remain with the company for the duration of the vesting period. Another type of Utah Restricted Stock Plan offered by RPM, Inc. is the performance-based vesting plan. This plan links the vesting of RSS to the achievement of certain performance goals or milestones set by the company. By aligning employee performance with overall company objectives, RPM, Inc. aims to drive productivity, profitability, and growth. It is important to note that during the restricted period, employees generally cannot sell, transfer, or pledge their RSS. However, they may receive dividend equivalents and enjoy voting rights associated with the granted shares. The Utah Restricted Stock Plan of RPM, Inc. serves as a valuable retention and motivation tool for the company's workforce. By granting employees an ownership stake in the company, this plan fosters a sense of loyalty, commitment, and shared responsibility for RPM, Inc.'s performance and long-term success.

The Utah Restricted Stock Plan of RPM, Inc. is a unique employee compensation structure that provides eligible employees with an opportunity to own company stock while subject to specific restrictions. This plan is designed to reward and motivate employees by aligning their interests with those of RPM, Inc. and encouraging long-term dedication to the company's growth and success. Under the Utah Restricted Stock Plan, eligible employees are granted restricted stock units (RSS) as a form of compensation. This RSS represents a specific number of shares of RPM, Inc. stock and are typically subject to certain vesting conditions and time-based restrictions. Upon meeting the vesting requirements, employees gain full ownership of the granted shares. One type of Utah Restricted Stock Plan provided by RPM, Inc. is the time-based vesting plan. In this structure, employees acquire ownership of their RSS over a predetermined period, such as three or four years. The RSS may vest in equal increments or according to a specific schedule, creating an incentive for employees to remain with the company for the duration of the vesting period. Another type of Utah Restricted Stock Plan offered by RPM, Inc. is the performance-based vesting plan. This plan links the vesting of RSS to the achievement of certain performance goals or milestones set by the company. By aligning employee performance with overall company objectives, RPM, Inc. aims to drive productivity, profitability, and growth. It is important to note that during the restricted period, employees generally cannot sell, transfer, or pledge their RSS. However, they may receive dividend equivalents and enjoy voting rights associated with the granted shares. The Utah Restricted Stock Plan of RPM, Inc. serves as a valuable retention and motivation tool for the company's workforce. By granting employees an ownership stake in the company, this plan fosters a sense of loyalty, commitment, and shared responsibility for RPM, Inc.'s performance and long-term success.