The Vermont Stock Appreciation Right (SAR) Plan of Helene Curtis Industries, Inc., is a comprehensive compensation program designed to reward and incentivize employees through the appreciation of company shares. This plan grants eligible employees the right to receive cash or stock equal to the increase in the value of Helene Curtis Industries' stock over a specific period. 1. Vermont Stock Appreciation Right Plan: The main type of Stock Appreciation Right Plan offered by Helene Curtis Industries, Inc. is the Vermont SAR Plan. This plan is specifically tailored to comply with the regulations and requirements of the state of Vermont. It provides employees with the opportunity to benefit from the company's stock growth while aligning their interests with the shareholders. 2. Employee Compensation: Under the Vermont SAR Plan, eligible employees are granted stock appreciation rights, which entitle them to the increase in the value of the company's stock. This compensation can be granted in the form of cash or stock, depending on the employee's preference or the company's guidelines. The program helps attract and retain talented individuals by linking their success with the company's performance. 3. Incentives and Retention: The program serves as a powerful retention and motivation tool for employees. By offering stock appreciation rights, Helene Curtis Industries ensures that employees have a vested interest in the company's long-term success. This fosters loyalty, commitment, and motivation, as employees see the direct impact of their efforts on the organization's performance. 4. Stock Value Growth: When the stock value of Helene Curtis Industries appreciates over a prescribed time period, eligible employees can exercise their stock appreciation rights. They have the choice to receive either cash or stock based on the increase in the share price. This provides a tangible benefit to employees as they directly benefit from the company's financial success. 5. Compliance with Vermont Regulations: The Vermont SAR Plan is specifically designed by Helene Curtis Industries to meet the regulatory requirements of the state. Vermont's laws may have specific provisions and guidelines regarding employee stock plans, and the company ensures full compliance with these regulations. This reassures employees that their participation in the plan is fully protected and within the legal framework. In summary, the Vermont Stock Appreciation Right Plan of Helene Curtis Industries, Inc. is an employee compensation program granting eligible employees the right to receive cash or stock based on the appreciation of the company's stock value. The plan aims to motivate, retain, and reward employees while adhering to the specific requirements of the state of Vermont.
Vermont Stock Appreciation Right Plan of Helene Curtis Industries, Inc.
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A SAR is very similar to a stock option, but with a key difference. When a stock option is exercised, an employee has to pay the grant price and acquire the underlying security. However, when a SAR is exercised, the employee does not have to pay to acquire the underlying security.
The company continued to grow, manufacturing products as varied as deodorant to skin creams, until 1996 when Helene Curtis was acquired by Unilever for $770 million.
?SARs? means stock appreciation rights entitling the holder thereof to receive a cash payment in an amount equal to the appreciation in the Common Shares over a specified period, as set forth in this Plan and in the applicable Grant Agreement.
In February 1996, Helene Curtis agreed to be acquired by Unilever for about $770 million. In contract law, the company is known for the 1963 case Helene Curtis Industries, Inc. v.
Helene Curtis, which was controlled by the Gidwitz family until it was sold to Unilever for $910 million in 1996, has been manufacturing at the 92-year-old facility since the late 1940s, ing to a Unilever spokesman.