Virgin Islands Long Term Performance and Restricted Stock Incentive Plan of Ipalco Enterprises, Inc.

• Category: Corporations - Public - Incentive Compensation Plans
• State: Multi-State
• Control #: US-CC-20-174D
• Format: Word; Rich Text

Description

20-174D 20-174D . . . Restricted Stock Incentive Plan under which Compensation Committee selects participants, determines number of shares of common stock covered by each grant, establishes appropriate performance measures, and chooses appropriate corporation peer group. The number of shares granted is equal to a percentage of participant's base salary for first calendar year of each three-year program. The base salary percentage target of first three-year grants range from 10% to 35%; maximum base salary grant permitted by Plan may not exceed 70% of participant's base salary. After end of a Performance Period, Committee determines adjustments, if any, that are required to be made to share grants for Performance Period based on actual results under Performance Measures (performance of corporation versus its peer group) for such Performance Period. After adjustments, restrictions on shares held by participant are lifted as to 1/3 on July 1 immediately following Performance Period and additional 1/3 increments on the first and second anniversaries of such July 1, provided participant is still employed by corporation on such date. If participant ceases to be employed by corporation before restrictions lapse on shares held by him or her, shares still subject to restrictions are immediately forfeited The Virgin Islands Long Term Performance and Restricted Stock Incentive Plan of INALCOL Enterprises, Inc. is a comprehensive compensation program designed to reward key executives and employees of the company for their long-term performance and commitment. This plan is specifically tailored to align the interests of the participants with the long-term success and growth of INALCOL Enterprises, Inc. The plan comprises various types of stock incentives, including restricted stock units (RSS), stock options, and performance-based stock awards. These different types of incentives are structured to motivate and retain individuals who play a crucial role in the company's performance and shareholder value creation. 1. Restricted Stock Units (RSS): RSS represent a promise to deliver shares of INALCOL Enterprises, Inc.'s stock to participants at a specified time in the future, subject to certain restrictions. These restrictions may include vesting conditions tied to the participant's continued employment or the achievement of specific performance targets. 2. Stock Options: Stock options grant participants the right to purchase a specific number of shares at a predetermined exercise price during a specified period. These options are typically subject to a vesting schedule, promoting the participants' long-term commitment to the company. 3. Performance-Based Stock Awards: This type of incentive is contingent upon achieving predetermined performance goals set by INALCOL Enterprises, Inc. These goals can be related to the company's financial performance, its market position, or any other key performance metric. When the performance targets are met, participants are granted a specific number of shares. The Virgin Islands Long Term Performance and Restricted Stock Incentive Plan aims to attract and retain top talent, encourage employee engagement, and provide a strong incentive for long-term value creation. These incentives are carefully structured to align the interests of participants with the company's overall strategic objectives, ensuring long-term growth and shareholder return.

The Virgin Islands Long Term Performance and Restricted Stock Incentive Plan of INALCOL Enterprises, Inc. is a comprehensive compensation program designed to reward key executives and employees of the company for their long-term performance and commitment. This plan is specifically tailored to align the interests of the participants with the long-term success and growth of INALCOL Enterprises, Inc. The plan comprises various types of stock incentives, including restricted stock units (RSS), stock options, and performance-based stock awards. These different types of incentives are structured to motivate and retain individuals who play a crucial role in the company's performance and shareholder value creation. 1. Restricted Stock Units (RSS): RSS represent a promise to deliver shares of INALCOL Enterprises, Inc.'s stock to participants at a specified time in the future, subject to certain restrictions. These restrictions may include vesting conditions tied to the participant's continued employment or the achievement of specific performance targets. 2. Stock Options: Stock options grant participants the right to purchase a specific number of shares at a predetermined exercise price during a specified period. These options are typically subject to a vesting schedule, promoting the participants' long-term commitment to the company. 3. Performance-Based Stock Awards: This type of incentive is contingent upon achieving predetermined performance goals set by INALCOL Enterprises, Inc. These goals can be related to the company's financial performance, its market position, or any other key performance metric. When the performance targets are met, participants are granted a specific number of shares. The Virgin Islands Long Term Performance and Restricted Stock Incentive Plan aims to attract and retain top talent, encourage employee engagement, and provide a strong incentive for long-term value creation. These incentives are carefully structured to align the interests of participants with the company's overall strategic objectives, ensuring long-term growth and shareholder return.