West Virginia 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 West Virginia Long Term Incentive Compensation Plan of A.M. Castle and Co. is a strategic reward program designed to incentivize and retain key employees in the state of West Virginia. This compensation plan aims to promote performance excellence, encourage long-term commitment, and align the interests of employees with the overall objectives of the company. One type of the West Virginia Long Term Incentive Compensation Plan offered by A.M. Castle and Co. is the Stock Option Plan. Under this plan, eligible employees are granted stock options that allow them to purchase company shares at a predetermined price within a specified timeframe. This provides employees with an opportunity to participate in the company's growth and success while also emphasizing the importance of long-term performance. Another type of the plan is the Restricted Stock Unit (RSU) Plan. RSS are granted to employees as a form of compensation, but unlike stock options, they do not require any upfront payment. Instead, RSS represent a promise to deliver company shares in the future, subject to vesting criteria and predetermined timeframes. This type of incentivization encourages employees to remain with the company and work towards its long-term goals. The West Virginia Long Term Incentive Compensation Plan also includes a Performance-Based Cash Bonus Plan. This plan establishes specific performance targets and metrics that, when achieved, result in cash bonuses for eligible employees. By linking compensation to performance, this plan aims to align the workforce's efforts towards achieving the company's strategic objectives and encourages a culture of excellence. Overall, the West Virginia Long Term Incentive Compensation Plan of A.M. Castle and Co. is a comprehensive approach to reward and engage employees in West Virginia. Through stock options, RSS, and performance-based cash bonuses, this plan enables employees to actively participate in the company's success, fostering a motivated and dedicated workforce, and driving long-term growth.

The West Virginia Long Term Incentive Compensation Plan of A.M. Castle and Co. is a strategic reward program designed to incentivize and retain key employees in the state of West Virginia. This compensation plan aims to promote performance excellence, encourage long-term commitment, and align the interests of employees with the overall objectives of the company. One type of the West Virginia Long Term Incentive Compensation Plan offered by A.M. Castle and Co. is the Stock Option Plan. Under this plan, eligible employees are granted stock options that allow them to purchase company shares at a predetermined price within a specified timeframe. This provides employees with an opportunity to participate in the company's growth and success while also emphasizing the importance of long-term performance. Another type of the plan is the Restricted Stock Unit (RSU) Plan. RSS are granted to employees as a form of compensation, but unlike stock options, they do not require any upfront payment. Instead, RSS represent a promise to deliver company shares in the future, subject to vesting criteria and predetermined timeframes. This type of incentivization encourages employees to remain with the company and work towards its long-term goals. The West Virginia Long Term Incentive Compensation Plan also includes a Performance-Based Cash Bonus Plan. This plan establishes specific performance targets and metrics that, when achieved, result in cash bonuses for eligible employees. By linking compensation to performance, this plan aims to align the workforce's efforts towards achieving the company's strategic objectives and encourages a culture of excellence. Overall, the West Virginia Long Term Incentive Compensation Plan of A.M. Castle and Co. is a comprehensive approach to reward and engage employees in West Virginia. Through stock options, RSS, and performance-based cash bonuses, this plan enables employees to actively participate in the company's success, fostering a motivated and dedicated workforce, and driving long-term growth.