Vermont Long Term Incentive Compensation Plan of A.M. Castle and Co.

• Category: Corporations - Public - Incentive Compensation Plans
• State: Multi-State
• Control #: US-CC-20-181
• Format: Word; Rich Text

Description

20-181 20-181 . . . Long Term Incentive Compensation Plan under which Human Resources Committee designates employees who will be participants in Plan and establishes Maximum Award Percentage with respect to each participant for each three year performance cycle. Each participant is entitled to a Performance Award if annual compounded total return (based upon stock appreciation and deemed reinvestment of dividends) on corporation common stock for that performance cycle equals or exceeds 1.5% plus annual compounded total return on common stock of Standard & Poor's 500 Industrials for such period. A participant's Performance Award for a performance cycle is amount equal to product of (a) participant's base salary multiplied by (b) his Maximum Award Percentage multiplied by (c) applicable Attainment Percentage for that performance cycle The Vermont Long Term Incentive Compensation Plan of A.M. Castle and Co. is a comprehensive compensation strategy aimed at motivating and rewarding employees for their long-term dedication and contribution to the company's success. This plan encompasses various performance-based incentives designed to align the interests of employees with the overall objectives of A.M. Castle and Co. One type of the Vermont Long Term Incentive Compensation Plan is the Restricted Stock Units (RSS). Through RSS, eligible employees receive a predetermined number of company shares, often subject to a vesting schedule. This form of compensation serves as a long-term investment, as employees receive the value of the shares either upon vesting or as dividends accrue over time. Another variant of the Vermont Long Term Incentive Compensation Plan is the Performance Cash Award (PCA). PCA's are cash bonuses that are awarded based on predefined performance metrics and targets. These targets may be tailored to specific roles, departments, or the organization as a whole. By incentivizing employees to meet or exceed key objectives, PCA's aim to drive sustained growth and individual excellence. Additionally, the plan may include Stock Options as part of the long-term incentives. Employees are given the opportunity to purchase company stock at a predetermined price, known as the grant price or strike price. The value of the stock options is derived from the difference between the market price and the grant price, giving employees the potential for substantial gains should the stock price rise above the strike price. The Vermont Long Term Incentive Compensation Plan is designed to foster a culture of performance, innovation, and shareholder value creation. By incorporating a mix of equity-based awards and cash bonuses, employees are driven to exceed expectations and contribute to the company's long-term success. These incentives encourage loyalty, retention, and a sense of ownership among employees, promoting a long-term perspective in decision-making and ultimately benefiting both the individuals and the organization as a whole. As part of A.M. Castle and Co.'s commitment to transparency and fair practices, the Vermont Long-Term Incentive Compensation Plan is regularly reviewed and evaluated to ensure it remains in line with industry best practices and continued alignment with the company's goals and values. It is a key component of the company's compensation package, promoting high-performance culture, attracting and retaining top talent, and driving long-term sustainable growth.

The Vermont Long Term Incentive Compensation Plan of A.M. Castle and Co. is a comprehensive compensation strategy aimed at motivating and rewarding employees for their long-term dedication and contribution to the company's success. This plan encompasses various performance-based incentives designed to align the interests of employees with the overall objectives of A.M. Castle and Co. One type of the Vermont Long Term Incentive Compensation Plan is the Restricted Stock Units (RSS). Through RSS, eligible employees receive a predetermined number of company shares, often subject to a vesting schedule. This form of compensation serves as a long-term investment, as employees receive the value of the shares either upon vesting or as dividends accrue over time. Another variant of the Vermont Long Term Incentive Compensation Plan is the Performance Cash Award (PCA). PCA's are cash bonuses that are awarded based on predefined performance metrics and targets. These targets may be tailored to specific roles, departments, or the organization as a whole. By incentivizing employees to meet or exceed key objectives, PCA's aim to drive sustained growth and individual excellence. Additionally, the plan may include Stock Options as part of the long-term incentives. Employees are given the opportunity to purchase company stock at a predetermined price, known as the grant price or strike price. The value of the stock options is derived from the difference between the market price and the grant price, giving employees the potential for substantial gains should the stock price rise above the strike price. The Vermont Long Term Incentive Compensation Plan is designed to foster a culture of performance, innovation, and shareholder value creation. By incorporating a mix of equity-based awards and cash bonuses, employees are driven to exceed expectations and contribute to the company's long-term success. These incentives encourage loyalty, retention, and a sense of ownership among employees, promoting a long-term perspective in decision-making and ultimately benefiting both the individuals and the organization as a whole. As part of A.M. Castle and Co.'s commitment to transparency and fair practices, the Vermont Long-Term Incentive Compensation Plan is regularly reviewed and evaluated to ensure it remains in line with industry best practices and continued alignment with the company's goals and values. It is a key component of the company's compensation package, promoting high-performance culture, attracting and retaining top talent, and driving long-term sustainable growth.