Utah Long Term Incentive Program for Senior Management

• Category: Corporations - Public - Incentive Compensation Plans
• State: Multi-State
• Control #: US-CC-20-162L
• Format: Word; Rich Text

Description

20-162L 20-162L . . . Long Term Incentive Program For Senior Management under which Compensation Committee may award (a) stock appreciation rights and (b) performance share units. Performance share units entitle holder to receive cash payment equal to (i) average market price of one share of corporation common stock during December ("Measuring Month") in third calendar year following year in which award is made, plus (ii) aggregate dividends with respect to one share of corporation common stock from January 1 of year in which award is made until last day of Measuring Month. At maturity, number of units initially awarded shall be (i) multiplied by fraction that corresponds to average annual percentage increase or decrease in book value per share of corporation common stock over four year period prior to maturity, and (ii) then further adjusted based on ratio of market value of corporation common stock to its book value as compared to that of comparable electric utility companies Keywords: Utah, long term incentive program, senior management, types, description The Utah Long Term Incentive Program for Senior Management is an initiative aimed at providing long-term compensation benefits to senior executives and leaders within organizations operating in the state of Utah. This program is specifically designed to attract, motivate, and retain high-performing individuals in key management positions. This incentive program offers various types of compensation packages, tailored to suit the needs, goals, and performance of senior management personnel. Some different types of Utah Long Term Incentive Programs for Senior Management include: 1. Stock Options: Senior executives may be offered stock options as a part of their long-term incentive program. This enables them to buy company stock at a predetermined price, providing an opportunity for financial growth in the future. 2. Restricted Stock: Another form of long-term incentive is the provision of restricted stock, where senior managers are given company shares that have restrictions on when they can be sold or transferred. These restrictions are usually tied to performance-based milestones or a specific period of service. 3. Performance-Based Cash Bonuses: This type of incentive program rewards senior management based on the achievement of specific performance goals. Executives may receive cash bonuses tied to financial, operational, or strategic targets set for the organization, motivating them to drive business success. 4. Phantom Stock Plans: Phantom stock plans are a form of long-term incentive that grants senior executives the right to receive cash payments or company stock based on the future performance of the organization. Similar to actual stock ownership, these plans offer financial benefits without actual ownership. 5. Profit Sharing: Some Utah Long Term Incentive Programs for Senior Management may include profit-sharing arrangements, where senior executives receive a portion of the company's profits based on predefined formulas or criteria. This aligns their interests with the success of the organization. These types of Utah Long Term Incentive Programs for Senior Management aim to enhance executive compensation packages beyond regular salaries and short-term bonuses. By offering attractive long-term incentives, companies can effectively motivate senior leaders to achieve long-term growth targets, drive innovation, and contribute to the overall success of the organization.

Keywords: Utah, long term incentive program, senior management, types, description The Utah Long Term Incentive Program for Senior Management is an initiative aimed at providing long-term compensation benefits to senior executives and leaders within organizations operating in the state of Utah. This program is specifically designed to attract, motivate, and retain high-performing individuals in key management positions. This incentive program offers various types of compensation packages, tailored to suit the needs, goals, and performance of senior management personnel. Some different types of Utah Long Term Incentive Programs for Senior Management include: 1. Stock Options: Senior executives may be offered stock options as a part of their long-term incentive program. This enables them to buy company stock at a predetermined price, providing an opportunity for financial growth in the future. 2. Restricted Stock: Another form of long-term incentive is the provision of restricted stock, where senior managers are given company shares that have restrictions on when they can be sold or transferred. These restrictions are usually tied to performance-based milestones or a specific period of service. 3. Performance-Based Cash Bonuses: This type of incentive program rewards senior management based on the achievement of specific performance goals. Executives may receive cash bonuses tied to financial, operational, or strategic targets set for the organization, motivating them to drive business success. 4. Phantom Stock Plans: Phantom stock plans are a form of long-term incentive that grants senior executives the right to receive cash payments or company stock based on the future performance of the organization. Similar to actual stock ownership, these plans offer financial benefits without actual ownership. 5. Profit Sharing: Some Utah Long Term Incentive Programs for Senior Management may include profit-sharing arrangements, where senior executives receive a portion of the company's profits based on predefined formulas or criteria. This aligns their interests with the success of the organization. These types of Utah Long Term Incentive Programs for Senior Management aim to enhance executive compensation packages beyond regular salaries and short-term bonuses. By offering attractive long-term incentives, companies can effectively motivate senior leaders to achieve long-term growth targets, drive innovation, and contribute to the overall success of the organization.