20-162L 20-162L . . . Long Term Incentive Program For Senior Management under which Compensation Committee may award (a) stock appreciation rights and (b) performance share units. Performance share units entitle holder to receive cash payment equal to (i) average market price of one share of corporation common stock during December ("Measuring Month") in third calendar year following year in which award is made, plus (ii) aggregate dividends with respect to one share of corporation common stock from January 1 of year in which award is made until last day of Measuring Month. At maturity, number of units initially awarded shall be (i) multiplied by fraction that corresponds to average annual percentage increase or decrease in book value per share of corporation common stock over four year period prior to maturity, and (ii) then further adjusted based on ratio of market value of corporation common stock to its book value as compared to that of comparable electric utility companies
Vermont Long Term Incentive Program for Senior Management
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The Worker Relocation Incentive Program is now live and accepting applications from those looking to move to the state, whether to work remotely or take a job with a Vermont company. These grants are awarded on a first come, first served basis, and completing a valid application does not guarantee a grant.
Worker Relocation Incentive Program now fully subscribed In total, 435 new workers and their families have moved to Vermont utilizing these programs. To build upon the success of previous efforts, the Vermont Legislature passed new legislation in 2022 allocating $3.09 million to create a new iteration of the program.
Employees making less than $100,000 annually as of January 1, 2023 will receive a $1,500 lump sum payment effective January 1, 2023. Exempt employees who are not performing at a minimum satisfactory level may have salary increases withheld or deferred.
Move to Vermont Remote workers receive up to $5,000 per year for up to two years. Applicants who move and become a full-time employee of a Vermont business are eligible for up to $7,500.
This grant offers up to $7,500 in reimbursements for eligible expenses to remote workers who become full-time residents on or after February 1, 2022 and continue to work for an out-of-state employer.
Based on previous worker incentive programs' success, ThinkVT launched a new relocation incentive program in November 2022. The new program will pay approved applicants up to $7,500 for moving expenses if they move to Vermont.
Loan Repayment Program Qualifying students who graduated in the Spring of 2023 can receive up to $5,000 in student loan forgiveness when they choose to reside in Vermont post-graduation and seek employment with a Vermont-based organization.
Vermont continues to accept relocation grant applications for employees moving to the state. Employees who have recently moved, or plan to move to Vermont, may still be eligible for a relocation expense reimbursement grant of up to $7,500 through the state's "ThinkVermont" Worker Relocation Incentive program.
This grant offers up to $7,500 in reimbursements for eligible expenses to remote workers who become full-time residents on or after February 1, 2022 and continue to work for an out-of-state employer.
A total of $300* in wellness incentive rewards is available to employees and retirees who have health insurance with the State in the Find Your Balance Incentive Program during 2023! Active employees and retirees who do not carry health insurance through the State are eligible for fantastic wellness prize drawings.