Washington Officer Long Term Incentive Compensation Plan for Southern California Edison Co.

• Category: Corporations - Public - Incentive Compensation Plans
• State: Multi-State
• Control #: US-CC-18-266C
• Format: Word; Rich Text

Description

18-266C 18-266C . . . Officer 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 Washington Officer Long Term Incentive Compensation Plan for Southern California Edison Co. is a comprehensive rewards program aimed at motivating and retaining top-level executives in the organization. This plan provides an attractive mix of incentives to encourage long-term performance and shareholder value creation. Under this compensation plan, Southern California Edison Co. offers various types of long-term incentives to its officers based in Washington state. Each incentive type serves a different purpose and aligns with specific business objectives. 1. Stock Options: One component of the plan is stock options, which grant officers the right to purchase company shares at a predetermined price within a specified period. Stock options allow executives to benefit from an increase in the company's stock price over time. This encourages them to make decisions that drive long-term growth and enhance shareholder value. 2. Restricted Stock Units (RSS): RSS are another form of long-term incentive offered to Washington officers. These grants represent a promise to deliver a specific number of company shares at a future date, subject to certain conditions being met. RSS provide executives with a vested interest in the company's success and encourage them to remain committed to achieving sustainable growth. 3. Performance Stock Units (Plus): The Washington Officer Long Term Incentive Compensation Plan may also include Plus. Plus are awarded based on the achievement of predetermined performance goals, such as financial targets or operational milestones. Once earned, these units convert into company shares, thereby aligning executive compensation with exceptional performance and important company objectives. 4. Cash Performance Incentives: The plan may also incorporate cash performance incentives, where officers receive bonuses based on meeting specific performance metrics. This type of incentive ensures that executives are rewarded for meeting or exceeding established targets, encouraging them to drive exceptional results within their roles. 5. Long-Term Performance Cash Program: Additionally, the plan may feature a Long-Term Performance Cash Program, wherein officers have the opportunity to earn cash awards based on the attainment of long-term financial and strategic goals. This program further motivates executives to focus on sustained growth and the implementation of business strategies that will benefit the company in the long run. Overall, the Washington Officer Long Term Incentive Compensation Plan for Southern California Edison Co. aims to attract, motivate, and retain top talent by providing officers with a combination of stock-based awards, cash incentives, and performance-based compensation opportunities. This multifaceted approach ensures alignment between executive interests, long-term business objectives, and shareholder value creation.

The Washington Officer Long Term Incentive Compensation Plan for Southern California Edison Co. is a comprehensive rewards program aimed at motivating and retaining top-level executives in the organization. This plan provides an attractive mix of incentives to encourage long-term performance and shareholder value creation. Under this compensation plan, Southern California Edison Co. offers various types of long-term incentives to its officers based in Washington state. Each incentive type serves a different purpose and aligns with specific business objectives. 1. Stock Options: One component of the plan is stock options, which grant officers the right to purchase company shares at a predetermined price within a specified period. Stock options allow executives to benefit from an increase in the company's stock price over time. This encourages them to make decisions that drive long-term growth and enhance shareholder value. 2. Restricted Stock Units (RSS): RSS are another form of long-term incentive offered to Washington officers. These grants represent a promise to deliver a specific number of company shares at a future date, subject to certain conditions being met. RSS provide executives with a vested interest in the company's success and encourage them to remain committed to achieving sustainable growth. 3. Performance Stock Units (Plus): The Washington Officer Long Term Incentive Compensation Plan may also include Plus. Plus are awarded based on the achievement of predetermined performance goals, such as financial targets or operational milestones. Once earned, these units convert into company shares, thereby aligning executive compensation with exceptional performance and important company objectives. 4. Cash Performance Incentives: The plan may also incorporate cash performance incentives, where officers receive bonuses based on meeting specific performance metrics. This type of incentive ensures that executives are rewarded for meeting or exceeding established targets, encouraging them to drive exceptional results within their roles. 5. Long-Term Performance Cash Program: Additionally, the plan may feature a Long-Term Performance Cash Program, wherein officers have the opportunity to earn cash awards based on the attainment of long-term financial and strategic goals. This program further motivates executives to focus on sustained growth and the implementation of business strategies that will benefit the company in the long run. Overall, the Washington Officer Long Term Incentive Compensation Plan for Southern California Edison Co. aims to attract, motivate, and retain top talent by providing officers with a combination of stock-based awards, cash incentives, and performance-based compensation opportunities. This multifaceted approach ensures alignment between executive interests, long-term business objectives, and shareholder value creation.