Virgin Islands Restricted Stock Award Plan of Coca-Cola Enterprises, Inc.

• Category: Corporations - Public - Incentive Compensation Plans
• State: Multi-State
• Control #: US-CC-20-163H
• Format: Word; Rich Text

Description

20-163H 20-163H . . . Restricted Stock Award Plan under which committee of Board of Directors can (a) grant restricted stock to officers and key employees of corporation and (b) reimburse such persons for amounts payable by them as consequence of any such award

The Virgin Islands Restricted Stock Award Plan of Coca-Cola Enterprises, Inc. is a comprehensive program designed to incentivize and reward employees in the Virgin Islands region. This plan offers restricted stock awards to eligible employees, providing them with an opportunity to acquire shares of the company's stock at a predetermined price. Under this plan, employees are granted shares of Coca-Cola Enterprises, Inc.'s stock, subject to certain restrictions and vesting requirements. The awards granted are typically based on factors such as job performance, years of service, and the employee's position within the company. The Virgin Islands Restricted Stock Award Plan aims to align the interests of employees with those of the company and its shareholders. By providing employees with ownership in Coca-Cola Enterprises, Inc., the plan encourages them to actively contribute to the company's growth and success. There are different types of restricted stock awards available under this plan, including: 1. Time-Based Restricted Stock Awards: These awards are subject to a specific vesting schedule, where employees must fulfill certain time-based requirements to receive full ownership of the granted shares. For example, an employee might be granted 100 shares of Coca-Cola Enterprises, Inc. stock, with a vesting period of four years. After each year, the employee becomes entitled to ownership of 25% of the shares. 2. Performance-Based Restricted Stock Awards: These awards are based on predefined performance goals or metrics, such as revenue targets, market share growth, or individual performance metrics. Employees must achieve these goals within a specific timeframe to unlock the ownership of the granted shares. 3. Restricted Stock Units (RSS): RSS are similar to regular restricted stock awards but are granted in units rather than actual shares. Employees receive a specific number of RSS, and upon vesting, each unit is converted into one share of the company's stock. 4. Dividend Equivalent Rights: Certain restricted stock awards may include dividend equivalent rights, which entitle the employee to receive cash payments equivalent to the dividends paid out on the company's stock during the restricted period. Overall, the Virgin Islands Restricted Stock Award Plan of Coca-Cola Enterprises, Inc. serves as a powerful tool for attracting, motivating, and retaining talented employees in the Virgin Islands region. By offering equity ownership, this plan aligns employee interests with those of the company and promotes a culture of long-term growth and value creation.