Virginia 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 Virginia Restricted Stock Plan of Bandstand Corp. is a comprehensive employee benefit program offered by Bandstand Corp., a company based in Virginia. This plan aims to incentivize and reward employees by providing them with restricted stock units (RSS) as a form of compensation. Under this plan, eligible employees are granted RSS, which are essentially stocks or ownership shares of the company that are subject to various restrictions. These restrictions typically include a specific vesting period during which the employee must wait before they can exercise their rights to the stock. This means that the employee cannot sell or transfer the stock until the vesting period is complete. The Virginia Restricted Stock Plan serves as a vital tool for attracting, motivating, and retaining talented employees within Bandstand Corp. Employees who are granted RSS have a vested interest in the company's success, as the value of the stock is directly tied to the company's performance. By utilizing this type of incentive, Bandstand Corp. seeks to align the interests of its employees with those of the company and its shareholders. When employees have a stake in the company's success, they are more likely to work towards achieving its long-term goals, including increased profitability and growth. It is important to note that there may be variations or sub-plans within the Virginia Restricted Stock Plan of Bandstand Corp. These variations may include different vesting schedules, eligibility criteria, and terms and conditions. Some examples could be the Executive Restricted Stock Plan, Employee Stock Purchase Plan, or Director's Restricted Stock Plan. Each plan may cater to specific employee groups within the organization. Overall, the Virginia Restricted Stock Plan of Bandstand Corp. is a valuable employee benefit program that offers a means of incentivizing employees through the granting of restricted stock units. By aligning the interests of employees with the company's success, this plan helps foster a motivated and dedicated workforce while promoting long-term growth and profitability.

The Virginia Restricted Stock Plan of Bandstand Corp. is a comprehensive employee benefit program offered by Bandstand Corp., a company based in Virginia. This plan aims to incentivize and reward employees by providing them with restricted stock units (RSS) as a form of compensation. Under this plan, eligible employees are granted RSS, which are essentially stocks or ownership shares of the company that are subject to various restrictions. These restrictions typically include a specific vesting period during which the employee must wait before they can exercise their rights to the stock. This means that the employee cannot sell or transfer the stock until the vesting period is complete. The Virginia Restricted Stock Plan serves as a vital tool for attracting, motivating, and retaining talented employees within Bandstand Corp. Employees who are granted RSS have a vested interest in the company's success, as the value of the stock is directly tied to the company's performance. By utilizing this type of incentive, Bandstand Corp. seeks to align the interests of its employees with those of the company and its shareholders. When employees have a stake in the company's success, they are more likely to work towards achieving its long-term goals, including increased profitability and growth. It is important to note that there may be variations or sub-plans within the Virginia Restricted Stock Plan of Bandstand Corp. These variations may include different vesting schedules, eligibility criteria, and terms and conditions. Some examples could be the Executive Restricted Stock Plan, Employee Stock Purchase Plan, or Director's Restricted Stock Plan. Each plan may cater to specific employee groups within the organization. Overall, the Virginia Restricted Stock Plan of Bandstand Corp. is a valuable employee benefit program that offers a means of incentivizing employees through the granting of restricted stock units. By aligning the interests of employees with the company's success, this plan helps foster a motivated and dedicated workforce while promoting long-term growth and profitability.