Utah Restricted Stock Plan of Sundstrand Corp.

• Category: Corporations - Public - Incentive Compensation Plans
• State: Multi-State
• Control #: US-CC-20-171D
• Format: Word; Rich Text

Description

20-171D 20-171D . . . Restricted Stock Plan under which a committee of Board of Directors sells shares of common stock to certain officers and senior employees at a price substantially below current market price. The shares are subject to following restrictions: (a) prohibition against any sale or other transfer and (b) obligation that participant (at corporation's option) must resell shares to corporation at price he paid for them if he ceases to be employed by corporation prior to expiration of from five to nine years after shares were sold to him, for reasons other than normal retirement, death, total disability or early retirement with consent of Board or committee. Except as otherwise provided, restrictions lapse as to 1/5 of aggregate number of participant's shares at expiration or each of fifth through ninth years after his purchase of such shares The Utah Restricted Stock Plan of Bandstand Corp. (hereinafter referred to as "the Plan") is a type of employee benefit plan offered by Bandstand Corp., a company situated in Utah. This plan is specifically designed to incentivize and reward employees through the allocation of restricted stock units (RSS). Under the Utah Restricted Stock Plan of Bandstand Corp., eligible employees are granted RSS that represent the right to receive shares of the company's common stock in the future, subject to certain specified conditions or restrictions. These restrictions serve to align the employee's interests with those of the company and foster a sense of ownership and commitment. The Plan offers various types of restricted stock units depending on the employees' eligibility and position within the company. These may include: 1. Employee Stock Options: These allow employees to purchase a specific number of company shares at a predetermined price, known as the strike price. Employees can exercise their options to acquire shares after a vesting period, typically granted as part of a compensation package or performance incentive. 2. Performance-Based Restricted Stock Units: This RSS is granted based on predetermined performance criteria established by the company. For example, an employee may be awarded a certain number of RSS if they achieve specific financial targets, operational goals, or meet predetermined milestones. 3. Time-Based Restricted Stock Units: This RSS typically vest over a specified period, encouraging employee retention and long-term commitment to the company. Once vested, employees gain full ownership of the shares. 4. Director Stock Units: For non-employee directors of Bandstand Corp., this type of restricted stock unit is designed to align their interests with shareholders. These units often have vesting conditions and provide directors the opportunity to share in the company's success. The Utah Restricted Stock Plan of Bandstand Corp. is meticulously designed to ensure compliance with applicable laws, regulations, and internal policies. It serves as a powerful tool to attract, retain, and motivate talented employees by providing them with an opportunity to directly participate in the company's growth and success. By granting RSS, Bandstand Corp. fosters a sense of shared responsibility and alignment between employees and shareholders. Disclaimer: The above description is a fictional representation of a Utah Restricted Stock Plan and Bandstand Corp. It is essential to consult the actual plan documents and relevant corporate resources for accurate information.

The Utah Restricted Stock Plan of Bandstand Corp. (hereinafter referred to as "the Plan") is a type of employee benefit plan offered by Bandstand Corp., a company situated in Utah. This plan is specifically designed to incentivize and reward employees through the allocation of restricted stock units (RSS). Under the Utah Restricted Stock Plan of Bandstand Corp., eligible employees are granted RSS that represent the right to receive shares of the company's common stock in the future, subject to certain specified conditions or restrictions. These restrictions serve to align the employee's interests with those of the company and foster a sense of ownership and commitment. The Plan offers various types of restricted stock units depending on the employees' eligibility and position within the company. These may include: 1. Employee Stock Options: These allow employees to purchase a specific number of company shares at a predetermined price, known as the strike price. Employees can exercise their options to acquire shares after a vesting period, typically granted as part of a compensation package or performance incentive. 2. Performance-Based Restricted Stock Units: This RSS is granted based on predetermined performance criteria established by the company. For example, an employee may be awarded a certain number of RSS if they achieve specific financial targets, operational goals, or meet predetermined milestones. 3. Time-Based Restricted Stock Units: This RSS typically vest over a specified period, encouraging employee retention and long-term commitment to the company. Once vested, employees gain full ownership of the shares. 4. Director Stock Units: For non-employee directors of Bandstand Corp., this type of restricted stock unit is designed to align their interests with shareholders. These units often have vesting conditions and provide directors the opportunity to share in the company's success. The Utah Restricted Stock Plan of Bandstand Corp. is meticulously designed to ensure compliance with applicable laws, regulations, and internal policies. It serves as a powerful tool to attract, retain, and motivate talented employees by providing them with an opportunity to directly participate in the company's growth and success. By granting RSS, Bandstand Corp. fosters a sense of shared responsibility and alignment between employees and shareholders. Disclaimer: The above description is a fictional representation of a Utah Restricted Stock Plan and Bandstand Corp. It is essential to consult the actual plan documents and relevant corporate resources for accurate information.