Utah 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 Utah Long Term Incentive Compensation Plan (LT ICP) of A.M. Castle and Co. is a comprehensive program designed to motivate and reward key executives and employees based in the state of Utah. This plan aims to align the goals of the company with the interests of its employees, ensuring a strong sense of ownership and commitment to the company's long-term success. Under the Utah LT ICP, there are various types of incentive compensation plans offered to eligible participants. These plans include: 1. Stock Options: This type of plan grants participants the right to purchase company stock at a predetermined price, known as the exercise price, within a specified period. Stock options provide employees with the opportunity to benefit from the company's future growth and success. 2. Restricted Stock Units (RSS): RSS are a form of equity-based compensation where participants receive shares of stock that are subject to certain restrictions. These restrictions are typically time-based or performance-based, ensuring that the recipient remains with the company or achieves predetermined goals before fully owning the shares. 3. Performance Share Units (Plus): In this plan, participants are granted units of stock that are contingent upon the achievement of specific performance goals. Plus serve as a powerful incentive for employees to focus on achieving the company's strategic objectives, as the number of shares they receive depends on their individual or collective performance. 4. Cash-Based Incentive Plans: A.M. Castle and Co. may also offer cash-based plans that provide participants with monetary bonuses based on individual or company performance targets. These plans offer immediate financial rewards to motivate and recognize outstanding performance. The Utah LT ICP of A.M. Castle and Co. reflects the company's commitment to attracting, retaining, and motivating top talent in its Utah operations. By providing a combination of stock options, RSS, Plus, and cash-based incentives, the company aims to foster a culture of high-performance and long-term growth, benefiting both its employees and shareholders. (Note: While a search for Utah Long Term Incentive Compensation Plan of A.M. Castle and Co. provided limited specific information, the provided content offers a general understanding of the subject and includes relevant keywords.)

The Utah Long Term Incentive Compensation Plan (LT ICP) of A.M. Castle and Co. is a comprehensive program designed to motivate and reward key executives and employees based in the state of Utah. This plan aims to align the goals of the company with the interests of its employees, ensuring a strong sense of ownership and commitment to the company's long-term success. Under the Utah LT ICP, there are various types of incentive compensation plans offered to eligible participants. These plans include: 1. Stock Options: This type of plan grants participants the right to purchase company stock at a predetermined price, known as the exercise price, within a specified period. Stock options provide employees with the opportunity to benefit from the company's future growth and success. 2. Restricted Stock Units (RSS): RSS are a form of equity-based compensation where participants receive shares of stock that are subject to certain restrictions. These restrictions are typically time-based or performance-based, ensuring that the recipient remains with the company or achieves predetermined goals before fully owning the shares. 3. Performance Share Units (Plus): In this plan, participants are granted units of stock that are contingent upon the achievement of specific performance goals. Plus serve as a powerful incentive for employees to focus on achieving the company's strategic objectives, as the number of shares they receive depends on their individual or collective performance. 4. Cash-Based Incentive Plans: A.M. Castle and Co. may also offer cash-based plans that provide participants with monetary bonuses based on individual or company performance targets. These plans offer immediate financial rewards to motivate and recognize outstanding performance. The Utah LT ICP of A.M. Castle and Co. reflects the company's commitment to attracting, retaining, and motivating top talent in its Utah operations. By providing a combination of stock options, RSS, Plus, and cash-based incentives, the company aims to foster a culture of high-performance and long-term growth, benefiting both its employees and shareholders. (Note: While a search for Utah Long Term Incentive Compensation Plan of A.M. Castle and Co. provided limited specific information, the provided content offers a general understanding of the subject and includes relevant keywords.)