Virgin Islands 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 The Virgin Islands Long Term Incentive Program for Senior Management offers an enticing array of benefits and rewards to senior executives as a means to attract and retain top talent in the organization. This program is designed to provide long-term incentives that align with the company's strategic goals, fostering a sense of commitment and dedication among senior management. Key Features: 1. Retention Component: One version of the Virgin Islands Long Term Incentive Program for Senior Management focuses on retention by offering senior executives attractive benefits such as deferred stock options, performance-based restricted stock units (RSS), and long-term cash bonuses. These incentives create a strong motivation for executives to remain with the company in the long run. 2. Performance Component: Another type of program concentrates on performance-based incentives that reward senior managers for achieving predetermined performance targets. These may include stock appreciation rights (SARS), phantom stock units (Plus), or performance shares. These incentives link executive compensation to the overall success of the organization, encouraging strong performance and driving results. 3. Equity Participation: The Virgin Islands Long Term Incentive Program may also encompass an equity participation component, enabling senior management to share in the company's ownership. This can be accomplished through stock grants, stock options, or stock purchase plans, giving executives a stake in the organization's future success. 4. Vesting Period: Both types of programs often include a predetermined vesting period during which the rewards gradually accrue. This ensures that senior management remains dedicated to the company's long-term goals and fosters loyalty throughout the organization. 5. Performance Evaluation: The success of the Virgin Islands Long Term Incentive Program is closely tied to the robust performance evaluation system in place. Key performance indicators (KPIs) are established to measure and evaluate senior managers' contributions, enabling fair determination of incentive payouts. By offering a comprehensive range of incentives that align with the company's objectives, the Virgin Islands Long Term Incentive Program for Senior Management aims to attract, motivate, and retain high-performing executives. The specific design and features of the program can be tailored to suit the organization's unique circumstances, ensuring optimum alignment between individual and organizational success.

The Virgin Islands Long Term Incentive Program for Senior Management offers an enticing array of benefits and rewards to senior executives as a means to attract and retain top talent in the organization. This program is designed to provide long-term incentives that align with the company's strategic goals, fostering a sense of commitment and dedication among senior management. Key Features: 1. Retention Component: One version of the Virgin Islands Long Term Incentive Program for Senior Management focuses on retention by offering senior executives attractive benefits such as deferred stock options, performance-based restricted stock units (RSS), and long-term cash bonuses. These incentives create a strong motivation for executives to remain with the company in the long run. 2. Performance Component: Another type of program concentrates on performance-based incentives that reward senior managers for achieving predetermined performance targets. These may include stock appreciation rights (SARS), phantom stock units (Plus), or performance shares. These incentives link executive compensation to the overall success of the organization, encouraging strong performance and driving results. 3. Equity Participation: The Virgin Islands Long Term Incentive Program may also encompass an equity participation component, enabling senior management to share in the company's ownership. This can be accomplished through stock grants, stock options, or stock purchase plans, giving executives a stake in the organization's future success. 4. Vesting Period: Both types of programs often include a predetermined vesting period during which the rewards gradually accrue. This ensures that senior management remains dedicated to the company's long-term goals and fosters loyalty throughout the organization. 5. Performance Evaluation: The success of the Virgin Islands Long Term Incentive Program is closely tied to the robust performance evaluation system in place. Key performance indicators (KPIs) are established to measure and evaluate senior managers' contributions, enabling fair determination of incentive payouts. By offering a comprehensive range of incentives that align with the company's objectives, the Virgin Islands Long Term Incentive Program for Senior Management aims to attract, motivate, and retain high-performing executives. The specific design and features of the program can be tailored to suit the organization's unique circumstances, ensuring optimum alignment between individual and organizational success.