West Virginia Long Term Performance and Restricted Stock Incentive Plan of Ipalco Enterprises, Inc.

• Category: Corporations - Public - Incentive Compensation Plans
• State: Multi-State
• Control #: US-CC-20-174D
• Format: Word; Rich Text

Description

20-174D 20-174D . . . Restricted Stock Incentive Plan under which Compensation Committee selects participants, determines number of shares of common stock covered by each grant, establishes appropriate performance measures, and chooses appropriate corporation peer group. The number of shares granted is equal to a percentage of participant's base salary for first calendar year of each three-year program. The base salary percentage target of first three-year grants range from 10% to 35%; maximum base salary grant permitted by Plan may not exceed 70% of participant's base salary. After end of a Performance Period, Committee determines adjustments, if any, that are required to be made to share grants for Performance Period based on actual results under Performance Measures (performance of corporation versus its peer group) for such Performance Period. After adjustments, restrictions on shares held by participant are lifted as to 1/3 on July 1 immediately following Performance Period and additional 1/3 increments on the first and second anniversaries of such July 1, provided participant is still employed by corporation on such date. If participant ceases to be employed by corporation before restrictions lapse on shares held by him or her, shares still subject to restrictions are immediately forfeited The West Virginia Long Term Performance and Restricted Stock Incentive Plan of INALCOL Enterprises, Inc. is a comprehensive and beneficial program designed to reward and motivate employees by providing long-term performance incentives and restricted stock options. This plan aims to align the interests of employees with the company's growth and success, encouraging them to achieve exceptional performance and contribute to INALCOL's overall strategic objectives. Through this plan, employees can enhance their financial well-being while fostering a sense of ownership and dedication towards the company. This incentive plan consists of various components tailored to meet the specific needs of employees in West Virginia. It offers two main types of awards: long-term performance incentives and restricted stock options. The long-term performance incentives are performance-based cash awards granted to eligible employees, linked to predetermined performance objectives set by INALCOL Enterprises. These incentives are structured to provide rewards based on the achievement of strategic goals and milestones over a defined performance period. On the other hand, the restricted stock options provide employees with an opportunity to acquire and own shares of INALCOL Enterprises. These options are granted as a form of equity compensation and are subject to certain vesting requirements and restrictions, ensuring that employees stay committed to the company's long-term success. By offering restricted stock options, INALCOL aligns the interests of its employees with the company's shareholders, reinforcing a shared commitment towards achieving growth and profitability. The West Virginia Long Term Performance and Restricted Stock Incentive Plan of INALCOL Enterprises is designed to attract, retain, and motivate high-performing employees in the region. It provides a tangible incentive for employees to continually improve their performance, contribute to the company's success, and align their personal and professional goals with the long-term vision of INALCOL Enterprises. By offering both cash rewards and stock ownership opportunities, this comprehensive plan encourages employee engagement, loyalty, and a sense of ownership, ultimately driving the company towards sustained growth and profitability.

The West Virginia Long Term Performance and Restricted Stock Incentive Plan of INALCOL Enterprises, Inc. is a comprehensive and beneficial program designed to reward and motivate employees by providing long-term performance incentives and restricted stock options. This plan aims to align the interests of employees with the company's growth and success, encouraging them to achieve exceptional performance and contribute to INALCOL's overall strategic objectives. Through this plan, employees can enhance their financial well-being while fostering a sense of ownership and dedication towards the company. This incentive plan consists of various components tailored to meet the specific needs of employees in West Virginia. It offers two main types of awards: long-term performance incentives and restricted stock options. The long-term performance incentives are performance-based cash awards granted to eligible employees, linked to predetermined performance objectives set by INALCOL Enterprises. These incentives are structured to provide rewards based on the achievement of strategic goals and milestones over a defined performance period. On the other hand, the restricted stock options provide employees with an opportunity to acquire and own shares of INALCOL Enterprises. These options are granted as a form of equity compensation and are subject to certain vesting requirements and restrictions, ensuring that employees stay committed to the company's long-term success. By offering restricted stock options, INALCOL aligns the interests of its employees with the company's shareholders, reinforcing a shared commitment towards achieving growth and profitability. The West Virginia Long Term Performance and Restricted Stock Incentive Plan of INALCOL Enterprises is designed to attract, retain, and motivate high-performing employees in the region. It provides a tangible incentive for employees to continually improve their performance, contribute to the company's success, and align their personal and professional goals with the long-term vision of INALCOL Enterprises. By offering both cash rewards and stock ownership opportunities, this comprehensive plan encourages employee engagement, loyalty, and a sense of ownership, ultimately driving the company towards sustained growth and profitability.