Franklin Ohio Restricted Stock Plan of RPM, Inc.

• Category: Corporations - Public - Stock Options
• State: Multi-State
• County: Franklin
• 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 Franklin Ohio Restricted Stock Plan of RPM, Inc. is a comprehensive employee benefit program offered by RPM, Inc., a leading multinational company headquartered in Franklin, Ohio. This plan aims to reward eligible employees with equity-based compensation in the form of restricted stock units (RSS) tied to the company's stock value. The Franklin Ohio Restricted Stock Plan serves as a vital tool to attract, retain, and motivate talented individuals within RPM, Inc. by providing them with a sense of ownership in the company's success. RSS serve as a unique incentive that aligns employee interests with shareholder value, fostering a collaborative and high-performance work environment. Key features and benefits of the Franklin Ohio Restricted Stock Plan include: 1. Eligibility: Employees meeting specific criteria, such as employment length, position, or performance, are eligible for participation in this program. The plan aims to include employees across various levels and functions. 2. Restricted Stock Units (RSS): Under this plan, eligible employees are granted RSS, which represent a contracted right to receive a specified number of shares of RPM, Inc.'s common stock after a predetermined vesting period. RSS provide employees the opportunity to participate in the company's growth and value appreciation over time. 3. Vesting Schedule: The Franklin Ohio Restricted Stock Plan outlines a vesting schedule, determining when employees gain complete ownership of their RSS. This vesting period, often spanning multiple years, encourages employees to stay with the company, fostering loyalty and commitment. 4. Performance-Based Metrics: To further motivate employees, the plan may incorporate performance-based metrics. These metrics could include individual or company-wide goals, such as achieving revenue targets, market share growth, or other strategic objectives. 5. Tax Implications: The Franklin Ohio Restricted Stock Plan takes into account the tax implications associated with RSS. Employees receive detailed guidance on tax obligations, including the withholding of applicable taxes during the vesting and distribution of shares. It is important to note that there may be multiple variations or types of the Franklin Ohio Restricted Stock Plan, tailored to meet the specific needs of different employee groups or divisions within RPM, Inc. For example, there could be variations based on executives, mid-level managers, or other employee classifications. These variations may include different vesting periods, performance metrics, or other terms and conditions. Overall, the Franklin Ohio Restricted Stock Plan of RPM, Inc. exemplifies the company's commitment to recognizing and rewarding its employees' contributions while fostering a shared sense of ownership in the organization's success.

The Franklin Ohio Restricted Stock Plan of RPM, Inc. is a comprehensive employee benefit program offered by RPM, Inc., a leading multinational company headquartered in Franklin, Ohio. This plan aims to reward eligible employees with equity-based compensation in the form of restricted stock units (RSS) tied to the company's stock value. The Franklin Ohio Restricted Stock Plan serves as a vital tool to attract, retain, and motivate talented individuals within RPM, Inc. by providing them with a sense of ownership in the company's success. RSS serve as a unique incentive that aligns employee interests with shareholder value, fostering a collaborative and high-performance work environment. Key features and benefits of the Franklin Ohio Restricted Stock Plan include: 1. Eligibility: Employees meeting specific criteria, such as employment length, position, or performance, are eligible for participation in this program. The plan aims to include employees across various levels and functions. 2. Restricted Stock Units (RSS): Under this plan, eligible employees are granted RSS, which represent a contracted right to receive a specified number of shares of RPM, Inc.'s common stock after a predetermined vesting period. RSS provide employees the opportunity to participate in the company's growth and value appreciation over time. 3. Vesting Schedule: The Franklin Ohio Restricted Stock Plan outlines a vesting schedule, determining when employees gain complete ownership of their RSS. This vesting period, often spanning multiple years, encourages employees to stay with the company, fostering loyalty and commitment. 4. Performance-Based Metrics: To further motivate employees, the plan may incorporate performance-based metrics. These metrics could include individual or company-wide goals, such as achieving revenue targets, market share growth, or other strategic objectives. 5. Tax Implications: The Franklin Ohio Restricted Stock Plan takes into account the tax implications associated with RSS. Employees receive detailed guidance on tax obligations, including the withholding of applicable taxes during the vesting and distribution of shares. It is important to note that there may be multiple variations or types of the Franklin Ohio Restricted Stock Plan, tailored to meet the specific needs of different employee groups or divisions within RPM, Inc. For example, there could be variations based on executives, mid-level managers, or other employee classifications. These variations may include different vesting periods, performance metrics, or other terms and conditions. Overall, the Franklin Ohio Restricted Stock Plan of RPM, Inc. exemplifies the company's commitment to recognizing and rewarding its employees' contributions while fostering a shared sense of ownership in the organization's success.