Chicago Illinois Restricted Stock Plan of RPM, Inc.

• Category: Corporations - Public - Stock Options
• State: Multi-State
• City: Chicago
• Control #: US-CC-18-200A
• Format: Word; Rich Text

Description

18-200A 18-200A . . . Restricted Stock Plan under which (a) Compensation Committee determines those employees of corporation and subsidiaries who are eligible to receive awards of Restricted Shares, (b) Restricted Shares are forfeitable and nontransferable for specified period of time, (c) transfer restrictions remain in place until earliest of (i) later of either employee's termination of employment or lapse of forfeiture restrictions, (ii) change in control with respect to corporation, or (iii) termination of Plan. Restricted Shares are subject to compete forfeiture until earliest to occur of (i) later of either employee's attainment of age 55 or fifth anniversary of May 31st immediately preceding date on which Restricted Shares were awarded, (ii) retirement of employee on or after attainment of age 65, or (iii) change in control with respect to corporation

The Chicago Illinois Restricted Stock Plan of RPM, Inc. is a comprehensive employee incentive program implemented by RPM, Inc., a prominent company based in Chicago, Illinois. This plan aims to motivate and reward employees by granting them restricted stock units (RSS) as a part of their compensation package. RSS is a form of equity compensation that grants employees the right to receive company shares at a predetermined schedule or specific conditions. The Chicago Illinois Restricted Stock Plan offers various types of RSS, tailored to the specific needs and objectives of the company and its employees. These types may include: 1. Performance-Based RSS: Performance-based RSS are granted to employees based on predefined performance metrics and goals. These metrics could be financial targets, market share growth, or any other objectives deemed significant by RPM, Inc. The number of RSS awarded is typically proportionate to the extent of goal achievement. 2. Time-Vested RSS: Time-vested RSS are awarded to employees based on their length of service with RPM, Inc. The RSS granted to employees through this mechanism vest over a specific period, typically ranging from three to five years, thus encouraging employee retention. 3. Promotional RSS: RPM, Inc. may also provide promotional RSS to employees who receive promotions within the company. This RSS serve as an acknowledgment of the increased responsibilities and contributions of employees who have been promoted. Such RSS often come with accelerated vesting schedules, rewarding employees for their advancement. 4. Acquisition-Related RSS: In scenarios where RPM, Inc. undergoes an acquisition or merger, employees may be granted acquisition-related RSS. This RSS is designed to provide financial benefits to employees in recognition of the company's overall success or any changes in ownership structure. By implementing the Chicago Illinois Restricted Stock Plan, RPM, Inc. aims to align the interests of its employees with the overall growth and success of the company. This incentivizes employees to perform at their best, as they have a vested interest in the long-term performance of RPM, Inc. The plan also fosters employee retention, as the RSS often vest over time, enhancing loyalty and commitment among team members. Through the various types of RSS available under the plan, RPM, Inc. ensures that employees are rewarded for their specific accomplishments, adherence to the company's core values, and consistent dedication to achieving strategic objectives. This comprehensive approach to providing incentive compensation reinforces a culture of excellence and teamwork within the organization, thereby driving the long-term success of RPM, Inc.