Vermont Management Long Term Incentive Compensation Plan of of SCEcorp

• Category: Corporations - Public - Incentive Compensation Plans
• State: Multi-State
• Control #: US-CC-18-268B
• Format: Word; Rich Text

Description

18-268B 18-268B . . . Management Long Term Incentive Compensation Plan under which compensation committee can grant (i) stock appreciation equivalents (hypothetical stock "units" which are granted to participant and upon which value of any incentive award is calculated), (ii) dividend equivalents (which represent value of dividends per share paid by corporation, calculated upon stock or stock units held by participant and which, if objectives set by committee are met, are paid to participant), (iii) Non-qualified Stock Options, (iv) incentive stock options, (v) restricted stock, (vi) stock appreciation rights, and (vii) performance awards The Vermont Management Long Term Incentive Compensation Plan is a comprehensive and highly competitive reward program implemented by Suncorp, a leading energy company, to attract, retain, and motivate top managerial talent within their organization. This plan aims to align the interests of executives with the long-term growth and success of the company, while also fostering a strong performance-driven culture. One variant of the Vermont Management Long Term Incentive Compensation Plan is the Performance-Based Restricted Stock Unit (RSU) Award. Under this plan, eligible executives receive a grant of RSS, which represents a specified number of shares of Suncorp stock. The RSS are subject to a vesting schedule that typically spans over several years, encouraging executives to remain with the company and contribute to its long-term value creation. Another type of incentive within the plan is the Cash Performance Unit (CPU) Award. This award is designed to directly link executive compensation with specific financial and operational performance targets set by Suncorp. Executives earn a cash bonus determined by the achievement of these pre-established goals, with higher performance resulting in higher bonuses. Suncorp also offers a Deferred Cash Compensation (DCC) option as part of the Vermont Management Long Term Incentive Compensation Plan. This allows eligible executives to defer a portion of their annual cash bonuses into an account, where it can accrue interest or be invested in various financial instruments. This flexibility in compensation allows executives to align their financial goals with their long-term plans and potentially benefit from tax advantages. The Vermont Management Long Term Incentive Compensation Plan of Suncorp also includes a Performance Share Unit (PSU) Award. This award grants executives with a specific number of pluses that are tied to the achievement of company-wide performance goals. These shares are generally only transferable to the executives at the end of a specified performance period, ensuring a focus on long-term results. Overall, the Vermont Management Long Term Incentive Compensation Plan of Suncorp is designed to attract and retain top talent, align executive interests with shareholder value creation, and foster a performance-driven culture within the company. This multi-faceted program offers a range of incentives, such as RSS, CPUs, DCC, and Plus, to reward executives based on their individual and collective contributions to the company's success.

The Vermont Management Long Term Incentive Compensation Plan is a comprehensive and highly competitive reward program implemented by Suncorp, a leading energy company, to attract, retain, and motivate top managerial talent within their organization. This plan aims to align the interests of executives with the long-term growth and success of the company, while also fostering a strong performance-driven culture. One variant of the Vermont Management Long Term Incentive Compensation Plan is the Performance-Based Restricted Stock Unit (RSU) Award. Under this plan, eligible executives receive a grant of RSS, which represents a specified number of shares of Suncorp stock. The RSS are subject to a vesting schedule that typically spans over several years, encouraging executives to remain with the company and contribute to its long-term value creation. Another type of incentive within the plan is the Cash Performance Unit (CPU) Award. This award is designed to directly link executive compensation with specific financial and operational performance targets set by Suncorp. Executives earn a cash bonus determined by the achievement of these pre-established goals, with higher performance resulting in higher bonuses. Suncorp also offers a Deferred Cash Compensation (DCC) option as part of the Vermont Management Long Term Incentive Compensation Plan. This allows eligible executives to defer a portion of their annual cash bonuses into an account, where it can accrue interest or be invested in various financial instruments. This flexibility in compensation allows executives to align their financial goals with their long-term plans and potentially benefit from tax advantages. The Vermont Management Long Term Incentive Compensation Plan of Suncorp also includes a Performance Share Unit (PSU) Award. This award grants executives with a specific number of pluses that are tied to the achievement of company-wide performance goals. These shares are generally only transferable to the executives at the end of a specified performance period, ensuring a focus on long-term results. Overall, the Vermont Management Long Term Incentive Compensation Plan of Suncorp is designed to attract and retain top talent, align executive interests with shareholder value creation, and foster a performance-driven culture within the company. This multi-faceted program offers a range of incentives, such as RSS, CPUs, DCC, and Plus, to reward executives based on their individual and collective contributions to the company's success.