Washington Restricted Stock Plan of Guilford Mills, Inc.

• Category: Corporations - Public - Incentive Compensation Plans
• State: Multi-State
• Control #: US-CC-20-170A
• Format: Word; Rich Text

Description

20-170A 20-170A . . . Restricted Stock Plan under which Compensation Committee grants awards of shares of common stock in accordance with terms and conditions set forth in agreement between corporation and participant. Each Stock Agreement contains such individual and corporate performance goals, restrictions, terms and conditions as Compensation Committee may require including price, if any, which participant shall be required to pay for shares The Washington Restricted Stock Plan of Guilford Mills, Inc. is a comprehensive program designed to incentivize and reward employees of the company with company stock holdings. This plan is exclusive to Washington state and ensures compliance with the state laws and regulations. Under the Washington Restricted Stock Plan, eligible employees are granted restricted stock units (RSS) as a form of compensation. This RSS represents the right to receive shares of Guilford Mills, Inc. stock after meeting specific vesting criteria. The RSS are subject to a vesting period during which the employee must remain with the company to be eligible to receive the shares. The plan offers various types of restricted stock units to cater to different employee needs and circumstances. One such type is the Performance-Based RSS, where the vesting of shares is contingent upon achieving predetermined performance goals. This type of RSU encourages employees to contribute actively to the company's growth and success, further aligning their interests with those of the company. Another type of RSU within the Washington Restricted Stock Plan is the Time-Based RSS. These RSS vest over a specific time period, usually years, based on the employee's continuous employment with Guilford Mills, Inc. The purpose behind this type of RSU is to reward long-term loyalty and commitment to the company by gradually granting ownership. It's important to note that the Washington Restricted Stock Plan of Guilford Mills, Inc. is designed to comply with the state's laws, ensuring that the employee's rights and interests are protected. This includes adherence to specific vesting schedules, proper documentation, and compliance with state taxation policies. By offering the Washington Restricted Stock Plan, Guilford Mills, Inc. aims to attract and retain top talent by offering a competitive compensation package that allows employees to directly participate in the company's growth. This also creates a sense of ownership, aligning the employees' long-term goals with the interests of the organization. Overall, the Washington Restricted Stock Plan of Guilford Mills, Inc. offers employees the opportunity to become shareholders of the company, promoting loyalty and incentivizing their dedication to achieving the company's objectives.

The Washington Restricted Stock Plan of Guilford Mills, Inc. is a comprehensive program designed to incentivize and reward employees of the company with company stock holdings. This plan is exclusive to Washington state and ensures compliance with the state laws and regulations. Under the Washington Restricted Stock Plan, eligible employees are granted restricted stock units (RSS) as a form of compensation. This RSS represents the right to receive shares of Guilford Mills, Inc. stock after meeting specific vesting criteria. The RSS are subject to a vesting period during which the employee must remain with the company to be eligible to receive the shares. The plan offers various types of restricted stock units to cater to different employee needs and circumstances. One such type is the Performance-Based RSS, where the vesting of shares is contingent upon achieving predetermined performance goals. This type of RSU encourages employees to contribute actively to the company's growth and success, further aligning their interests with those of the company. Another type of RSU within the Washington Restricted Stock Plan is the Time-Based RSS. These RSS vest over a specific time period, usually years, based on the employee's continuous employment with Guilford Mills, Inc. The purpose behind this type of RSU is to reward long-term loyalty and commitment to the company by gradually granting ownership. It's important to note that the Washington Restricted Stock Plan of Guilford Mills, Inc. is designed to comply with the state's laws, ensuring that the employee's rights and interests are protected. This includes adherence to specific vesting schedules, proper documentation, and compliance with state taxation policies. By offering the Washington Restricted Stock Plan, Guilford Mills, Inc. aims to attract and retain top talent by offering a competitive compensation package that allows employees to directly participate in the company's growth. This also creates a sense of ownership, aligning the employees' long-term goals with the interests of the organization. Overall, the Washington Restricted Stock Plan of Guilford Mills, Inc. offers employees the opportunity to become shareholders of the company, promoting loyalty and incentivizing their dedication to achieving the company's objectives.