Hennepin Minnesota Restricted Stock Plan of RPM, Inc.

• Category: Corporations - Public - Stock Options
• State: Multi-State
• County: Hennepin
• 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 Hennepin Minnesota Restricted Stock Plan is a specialized stock ownership program offered exclusively to employees of RPM, Inc. Primarily based in Hennepin County, Minnesota, this plan provides employees with an opportunity to acquire shares of restricted stock as an incentive and contribution to their long-term financial growth. The Hennepin Minnesota Restricted Stock Plan is designed to supplement RPM, Inc.'s overall compensation package, providing employees with an additional means of building wealth and aligning their interests with the company's success. It grants qualified employees the right to purchase company stock at a predetermined price, typically referred to as the grant price, which may be lower than the market price at the time of issuance. There are a few different types of Hennepin Minnesota Restricted Stock Plans that RPM, Inc. may offer to its employees based on their specific roles, performance, and tenure within the company. These variations include: 1. Performance-Based Restricted Stock: As the name suggests, this plan rewards employees based on their individual or team performance. It establishes specific performance targets, such as revenue growth, cost savings, or market share increase. Upon achieving these targets, employees become eligible to receive additional shares of restricted stock. 2. Time-Vested Restricted Stock: Under this plan, employees are granted shares of restricted stock that vest over a certain period of time. Vesting typically occurs incrementally, meaning the employee gains ownership of a portion of the stock grant each year until they fully vest. This serves as an incentive for employees to remain with the company for an extended period, thus promoting loyalty and dedication. 3. Management-Based Restricted Stock: Aimed at executive-level employees, this plan provides additional benefits and incentives. It often includes a higher number of shares than other plans and may come with additional performance conditions or restrictions. Regardless of the specific type, all Hennepin Minnesota Restricted Stock Plans are subject to certain conditions, including the requirement that employees remain with RPM, Inc. for a specified period to fully realize the benefits of the granted shares. Additionally, employees should consult with legal and tax professionals to understand the potential tax implications associated with participating in such a plan. Overall, the Hennepin Minnesota Restricted Stock Plan is a valuable employee benefit, providing an opportunity for financial growth and incentivizing employees to contribute to the long-term success of RPM, Inc. By aligning the interests of employees and shareholders, this plan fosters a sense of ownership and encourages employees to actively contribute to the company's growth and profitability.

The Hennepin Minnesota Restricted Stock Plan is a specialized stock ownership program offered exclusively to employees of RPM, Inc. Primarily based in Hennepin County, Minnesota, this plan provides employees with an opportunity to acquire shares of restricted stock as an incentive and contribution to their long-term financial growth. The Hennepin Minnesota Restricted Stock Plan is designed to supplement RPM, Inc.'s overall compensation package, providing employees with an additional means of building wealth and aligning their interests with the company's success. It grants qualified employees the right to purchase company stock at a predetermined price, typically referred to as the grant price, which may be lower than the market price at the time of issuance. There are a few different types of Hennepin Minnesota Restricted Stock Plans that RPM, Inc. may offer to its employees based on their specific roles, performance, and tenure within the company. These variations include: 1. Performance-Based Restricted Stock: As the name suggests, this plan rewards employees based on their individual or team performance. It establishes specific performance targets, such as revenue growth, cost savings, or market share increase. Upon achieving these targets, employees become eligible to receive additional shares of restricted stock. 2. Time-Vested Restricted Stock: Under this plan, employees are granted shares of restricted stock that vest over a certain period of time. Vesting typically occurs incrementally, meaning the employee gains ownership of a portion of the stock grant each year until they fully vest. This serves as an incentive for employees to remain with the company for an extended period, thus promoting loyalty and dedication. 3. Management-Based Restricted Stock: Aimed at executive-level employees, this plan provides additional benefits and incentives. It often includes a higher number of shares than other plans and may come with additional performance conditions or restrictions. Regardless of the specific type, all Hennepin Minnesota Restricted Stock Plans are subject to certain conditions, including the requirement that employees remain with RPM, Inc. for a specified period to fully realize the benefits of the granted shares. Additionally, employees should consult with legal and tax professionals to understand the potential tax implications associated with participating in such a plan. Overall, the Hennepin Minnesota Restricted Stock Plan is a valuable employee benefit, providing an opportunity for financial growth and incentivizing employees to contribute to the long-term success of RPM, Inc. By aligning the interests of employees and shareholders, this plan fosters a sense of ownership and encourages employees to actively contribute to the company's growth and profitability.