Wyoming 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 Wyoming Officer Long Term Incentive Compensation Plan (OLT CIP) is a specific compensation plan designed by Southern California Edison Co. for its officers based in Wyoming. This plan is part of the broader incentive compensation structure and aims to reward long-term performance and enhance employee retention. Under the Wyoming OLT CIP, officers are eligible for various forms of compensation beyond their regular salary and benefits. These incentives are designed to motivate and encourage key personnel to contribute to the company's long-term growth and success. The plan includes different types of incentives, such as: 1. Equity-Based Rewards: Officers may receive equity-based rewards, including stock options, restricted stock units (RSS), or performance shares. These forms of compensation tie the executive's financial gain to the company's overall performance and stock price. 2. Performance Bonuses: The plan may also include performance-based bonuses. These bonuses are awarded based on the achievement of predetermined corporate goals, such as financial targets, operational milestones, or strategic initiatives. Performance bonuses are meant to align officers' interests with the company's objectives. 3. Long-Term Cash Incentives: Long-term cash incentives use a cash-based payment system to reward officers' sustained performance over a specified period. These incentives may be tied to cumulative financial performance or specific strategic objectives. Such incentives allow officers to receive additional compensation above their regular salary based on their long-term contributions. 4. Deferred Compensation: The Wyoming OLT CIP may also incorporate a deferred compensation component. This allows officers to defer a portion of their compensation to be paid out at a later date, typically upon retirement or a specific triggering event. Deferred compensation can provide officers with additional financial security in the long term, acting as a retention tool. 5. Performance Metrics and Measurement: To ensure transparency and fairness, the plan may establish clear criteria for performance measurement. These metrics could include financial metrics (e.g., revenue growth, earnings per share), operational targets, customer satisfaction, or other relevant factors. While the specific details and types of the Wyoming OLT CIP may vary depending on company requirements and executive roles, the underlying purpose remains consistent: to provide incentives and rewards for long-term performance, enhance retention, align officer interests with company goals, and drive sustainable growth for Southern California Edison Co.

The Wyoming Officer Long Term Incentive Compensation Plan (OLT CIP) is a specific compensation plan designed by Southern California Edison Co. for its officers based in Wyoming. This plan is part of the broader incentive compensation structure and aims to reward long-term performance and enhance employee retention. Under the Wyoming OLT CIP, officers are eligible for various forms of compensation beyond their regular salary and benefits. These incentives are designed to motivate and encourage key personnel to contribute to the company's long-term growth and success. The plan includes different types of incentives, such as: 1. Equity-Based Rewards: Officers may receive equity-based rewards, including stock options, restricted stock units (RSS), or performance shares. These forms of compensation tie the executive's financial gain to the company's overall performance and stock price. 2. Performance Bonuses: The plan may also include performance-based bonuses. These bonuses are awarded based on the achievement of predetermined corporate goals, such as financial targets, operational milestones, or strategic initiatives. Performance bonuses are meant to align officers' interests with the company's objectives. 3. Long-Term Cash Incentives: Long-term cash incentives use a cash-based payment system to reward officers' sustained performance over a specified period. These incentives may be tied to cumulative financial performance or specific strategic objectives. Such incentives allow officers to receive additional compensation above their regular salary based on their long-term contributions. 4. Deferred Compensation: The Wyoming OLT CIP may also incorporate a deferred compensation component. This allows officers to defer a portion of their compensation to be paid out at a later date, typically upon retirement or a specific triggering event. Deferred compensation can provide officers with additional financial security in the long term, acting as a retention tool. 5. Performance Metrics and Measurement: To ensure transparency and fairness, the plan may establish clear criteria for performance measurement. These metrics could include financial metrics (e.g., revenue growth, earnings per share), operational targets, customer satisfaction, or other relevant factors. While the specific details and types of the Wyoming OLT CIP may vary depending on company requirements and executive roles, the underlying purpose remains consistent: to provide incentives and rewards for long-term performance, enhance retention, align officer interests with company goals, and drive sustainable growth for Southern California Edison Co.