Utah Officer Long Term Incentive Compensation Plan for Southern California Edison Co.

• Category: Corporations - Public - Incentive Compensation Plans
• State: Multi-State
• Control #: US-CC-18-266C
• Format: Word; Rich Text

Description

18-266C 18-266C . . . Officer Long Term Incentive Compensation Plan under which compensation committee can grant (i) stock appreciation equivalents (hypothetical stock "units" which are granted to participant and upon which value of any incentive award is calculated), (ii) dividend equivalents (which represent value of dividends per share paid by corporation, calculated upon stock or stock units held by participant and which, if objectives set by committee are met, are paid to participant), (iii) Non-qualified Stock Options, (iv) incentive stock options, (v) restricted stock, (vi) stock appreciation rights, and (vii) performance awards The Utah Officer Long Term Incentive Compensation Plan is a specialized compensation structure designed for officers of Southern California Edison Co. who are based in Utah. This plan offers unique incentives and rewards to retain top talent and drive long-term performance. It is a crucial part of Southern California Edison's comprehensive compensation framework. Under this plan, Utah officers are eligible for various long-term incentives based on their individual performance, company performance, and other predetermined metrics. These incentives aim to motivate and align the interests of the officers with the company's strategic objectives. Offered benefits are tailored to attract, engage, and retain high-performing individuals in key leadership positions. Some key features of the Utah Officer Long Term Incentive Compensation Plan include: 1. Performance-Based Bonuses: Officers can receive bonuses based on the achievement of specific performance targets, such as financial goals, operational efficiencies, customer satisfaction, and environmental sustainability. 2. Stock Options: Eligible officers may be granted stock options, allowing them to purchase company stock at a predetermined price over a specified period. This encourages officers to contribute to the company's long-term success and share in its financial gains. 3. Restricted Stock Units (RSS): RSS are another form of equity compensation offered under this plan. Officers are granted a specified number of RSS, which convert into actual company shares over time, subject to certain vesting conditions. This serves as a long-term retention and incentive tool. 4. Performance Shares: The plan may also allocate performance shares based on predetermined performance criteria. These shares are distributed to officers as additional compensation after a specific performance period. 5. Deferred Compensation: Officers have the option to defer a portion of their cash incentives and invest them in a structured plan, allowing for tax advantages and potential growth over time. It's important to note that specific details and offerings of the Utah Officer Long Term Incentive Compensation Plan may vary based on the officer's position, seniority, individual performance, and other factors. Additionally, there may be different variations of the plan depending on the ongoing revisions and updates made by Southern California Edison Co.

The Utah Officer Long Term Incentive Compensation Plan is a specialized compensation structure designed for officers of Southern California Edison Co. who are based in Utah. This plan offers unique incentives and rewards to retain top talent and drive long-term performance. It is a crucial part of Southern California Edison's comprehensive compensation framework. Under this plan, Utah officers are eligible for various long-term incentives based on their individual performance, company performance, and other predetermined metrics. These incentives aim to motivate and align the interests of the officers with the company's strategic objectives. Offered benefits are tailored to attract, engage, and retain high-performing individuals in key leadership positions. Some key features of the Utah Officer Long Term Incentive Compensation Plan include: 1. Performance-Based Bonuses: Officers can receive bonuses based on the achievement of specific performance targets, such as financial goals, operational efficiencies, customer satisfaction, and environmental sustainability. 2. Stock Options: Eligible officers may be granted stock options, allowing them to purchase company stock at a predetermined price over a specified period. This encourages officers to contribute to the company's long-term success and share in its financial gains. 3. Restricted Stock Units (RSS): RSS are another form of equity compensation offered under this plan. Officers are granted a specified number of RSS, which convert into actual company shares over time, subject to certain vesting conditions. This serves as a long-term retention and incentive tool. 4. Performance Shares: The plan may also allocate performance shares based on predetermined performance criteria. These shares are distributed to officers as additional compensation after a specific performance period. 5. Deferred Compensation: Officers have the option to defer a portion of their cash incentives and invest them in a structured plan, allowing for tax advantages and potential growth over time. It's important to note that specific details and offerings of the Utah Officer Long Term Incentive Compensation Plan may vary based on the officer's position, seniority, individual performance, and other factors. Additionally, there may be different variations of the plan depending on the ongoing revisions and updates made by Southern California Edison Co.