Virgin Islands Restricted Stock Plan of Guilford Mills, Inc.

• Category: Corporations - Public - Incentive Compensation Plans
• State: Multi-State
• Control #: US-CC-20-170A
• Format: Word; Rich Text

Description

20-170A 20-170A . . . Restricted Stock Plan under which Compensation Committee grants awards of shares of common stock in accordance with terms and conditions set forth in agreement between corporation and participant. Each Stock Agreement contains such individual and corporate performance goals, restrictions, terms and conditions as Compensation Committee may require including price, if any, which participant shall be required to pay for shares The Virgin Islands Restricted Stock Plan of Guilford Mills, Inc. is a comprehensive and innovative financial program designed to provide eligible employees with a unique opportunity to acquire and retain company stock. This plan, exclusively available to employees working in the Virgin Islands, serves as a powerful incentive to attract and retain top talent within Guilford Mills, Inc. Under this plan, employees are granted restricted stock units (RSS) as a form of additional compensation. RSS represents a promise to distribute company stock to employees at a predetermined future date, subject to certain conditions and restrictions. This RSS is typically granted based on an employee's performance, job level, or length of service, serving as a tangible representation of their contribution to the company's success. The Virgin Islands Restricted Stock Plan of Guilford Mills, Inc. features various types of restricted stock units, namely: 1. Performance-based RSS: This RSS is granted to employees based on specific performance criteria established by the company. Employees must meet or exceed the predefined goals to unlock and receive the allocated shares. 2. Time-based RSS: In this type of RSU, employees become eligible to receive the allocated shares over a specified period. The vesting schedule ensures that employees remain committed to the company for a set duration, encouraging loyalty and dedication. 3. Retention-based RSS: This RSS aim to motivate employees to stay with Guilford Mills, Inc. for a certain period of time. Shares are granted as an incentive, and employees must remain employed with the company until a predetermined date to receive the shares. 4. Promotion-based RSS: Awarded upon promotion, this RSS is designed to acknowledge an employee's advancement within the organization. They serve as a recognition of their accomplishments and contribute to their long-term financial growth. By participating in the Virgin Islands Restricted Stock Plan of Guilford Mills, Inc., employees are provided with a unique opportunity to share in the company's success. This program encourages employee engagement, loyalty, and retention while aligning their interests with the company's overall performance. The plan's multi-faceted approach offers different types of RSS to cater to various performance-based, time-based, retention-based, and promotion-based scenarios, ensuring a well-rounded and custom-tailored experience.

The Virgin Islands Restricted Stock Plan of Guilford Mills, Inc. is a comprehensive and innovative financial program designed to provide eligible employees with a unique opportunity to acquire and retain company stock. This plan, exclusively available to employees working in the Virgin Islands, serves as a powerful incentive to attract and retain top talent within Guilford Mills, Inc. Under this plan, employees are granted restricted stock units (RSS) as a form of additional compensation. RSS represents a promise to distribute company stock to employees at a predetermined future date, subject to certain conditions and restrictions. This RSS is typically granted based on an employee's performance, job level, or length of service, serving as a tangible representation of their contribution to the company's success. The Virgin Islands Restricted Stock Plan of Guilford Mills, Inc. features various types of restricted stock units, namely: 1. Performance-based RSS: This RSS is granted to employees based on specific performance criteria established by the company. Employees must meet or exceed the predefined goals to unlock and receive the allocated shares. 2. Time-based RSS: In this type of RSU, employees become eligible to receive the allocated shares over a specified period. The vesting schedule ensures that employees remain committed to the company for a set duration, encouraging loyalty and dedication. 3. Retention-based RSS: This RSS aim to motivate employees to stay with Guilford Mills, Inc. for a certain period of time. Shares are granted as an incentive, and employees must remain employed with the company until a predetermined date to receive the shares. 4. Promotion-based RSS: Awarded upon promotion, this RSS is designed to acknowledge an employee's advancement within the organization. They serve as a recognition of their accomplishments and contribute to their long-term financial growth. By participating in the Virgin Islands Restricted Stock Plan of Guilford Mills, Inc., employees are provided with a unique opportunity to share in the company's success. This program encourages employee engagement, loyalty, and retention while aligning their interests with the company's overall performance. The plan's multi-faceted approach offers different types of RSS to cater to various performance-based, time-based, retention-based, and promotion-based scenarios, ensuring a well-rounded and custom-tailored experience.