Wake North Carolina Director Incentive Compensation Plan

• Category: Corporations - Public - Stock Options
• State: Multi-State
• County: Wake
• Control #: US-CC-18-276
• Format: Word; Rich Text

Description

18-276 18-276 . . . Director Incentive Compensation Plan under which eligible directors are granted automatic, nondiscretionary annual awards of 100 shares of common stock to each eligible director at no cost to director upon election or re-election by stockholders. The Board may amend award formula to no greater than 500 shares per year per director The Wake North Carolina Director Incentive Compensation Plan is a comprehensive framework designed to reward directors for their exceptional performances and contributions towards the growth and success of Wake, North Carolina. This plan is specifically tailored to incentivize the talented directors in Wake to maximize their efforts and drive the economic development, community engagement, and overall progress of the region. By aligning their incentives with the goals of the organization, Wake aims to attract and retain top-notch directors who can effectively lead and guide the development efforts. The Wake North Carolina Director Incentive Compensation Plan is structured with various components and types to ensure flexibility and inclusivity. These types can be categorized as follows: 1. Performance-based Incentives: This component of the plan focuses on rewarding directors based on their achievement of predefined performance targets. These targets can include metrics related to economic growth, employment rates, business attraction, innovation, infrastructure, and social impact. By linking the incentive directly to these measurable goals, directors are motivated to implement strategies that drive positive outcomes. 2. Long-term Incentives: Wake recognizes the importance of long-term strategic planning in achieving sustained growth. Therefore, the compensation plan includes attractive long-term incentives for directors who demonstrate exceptional leadership and cultivate long-lasting partnerships. These incentives may include equity-based rewards, profit-sharing, deferred compensation, stock options, or grants tied to tenure and successful implementation of strategic initiatives. 3. Special Recognition Incentives: Wake encourages directors to go above and beyond in their dedication to the community and implementation of innovative ideas. Therefore, the plan incorporates special recognition incentives to acknowledge exceptional achievements, such as awards, bonuses, additional compensation for extraordinary projects, or grants for community development initiatives. 4. Team-Based Incentives: Collaboration and teamwork are crucial for the success of any organization. The Wake North Carolina Director Incentive Compensation Plan recognizes this by including team-based incentives. These incentives promote cooperation among directors and reward collective efforts that contribute to the overall prosperity of the region. Examples of team-based incentives may include profit-sharing for achieving team-level targets, team performance bonuses, or grants for collaborative projects. The Wake North Carolina Director Incentive Compensation Plan showcases the commitment of Wake to attract top talent and create a conducive environment for directors to excel and deliver exceptional results. By offering a comprehensive range of incentives and rewards, Wake motivates directors to drive growth, economic prosperity, and overall development in the region.

The Wake North Carolina Director Incentive Compensation Plan is a comprehensive framework designed to reward directors for their exceptional performances and contributions towards the growth and success of Wake, North Carolina. This plan is specifically tailored to incentivize the talented directors in Wake to maximize their efforts and drive the economic development, community engagement, and overall progress of the region. By aligning their incentives with the goals of the organization, Wake aims to attract and retain top-notch directors who can effectively lead and guide the development efforts. The Wake North Carolina Director Incentive Compensation Plan is structured with various components and types to ensure flexibility and inclusivity. These types can be categorized as follows: 1. Performance-based Incentives: This component of the plan focuses on rewarding directors based on their achievement of predefined performance targets. These targets can include metrics related to economic growth, employment rates, business attraction, innovation, infrastructure, and social impact. By linking the incentive directly to these measurable goals, directors are motivated to implement strategies that drive positive outcomes. 2. Long-term Incentives: Wake recognizes the importance of long-term strategic planning in achieving sustained growth. Therefore, the compensation plan includes attractive long-term incentives for directors who demonstrate exceptional leadership and cultivate long-lasting partnerships. These incentives may include equity-based rewards, profit-sharing, deferred compensation, stock options, or grants tied to tenure and successful implementation of strategic initiatives. 3. Special Recognition Incentives: Wake encourages directors to go above and beyond in their dedication to the community and implementation of innovative ideas. Therefore, the plan incorporates special recognition incentives to acknowledge exceptional achievements, such as awards, bonuses, additional compensation for extraordinary projects, or grants for community development initiatives. 4. Team-Based Incentives: Collaboration and teamwork are crucial for the success of any organization. The Wake North Carolina Director Incentive Compensation Plan recognizes this by including team-based incentives. These incentives promote cooperation among directors and reward collective efforts that contribute to the overall prosperity of the region. Examples of team-based incentives may include profit-sharing for achieving team-level targets, team performance bonuses, or grants for collaborative projects. The Wake North Carolina Director Incentive Compensation Plan showcases the commitment of Wake to attract top talent and create a conducive environment for directors to excel and deliver exceptional results. By offering a comprehensive range of incentives and rewards, Wake motivates directors to drive growth, economic prosperity, and overall development in the region.