Allegheny Pennsylvania Share Appreciation Rights Plan with amendment

• Category: Corporations - Public - Stock Options
• State: Multi-State
• County: Allegheny
• Control #: US-CC-18-400D
• Format: Word; Rich Text

Description

18-400D 18-400D . . . Share Appreciation Rights Plan under which stock option committee determines to whom units are awarded, number of units to be awarded and terms of such units. On grant date, committee assigns each unit a base value which cannot be less than market value of share of common stock on that date. Each award becomes exercisable with respect to 25% of units awarded on each of first four anniversaries of grant date, provided grantee has been continually employed full-time by corporation or subsidiary. Units may be exercised, to extent vested, at any time until five years after grant date. Upon exercise of vested units, grantee is entitled to receive net appreciation of such units in cash or in shares of common stock, as determined by committee Allegheny Pennsylvania Share Appreciation Rights Plan (SAR) is a compensation program designed to reward employees of Allegheny, Pennsylvania-based companies for their contributions and dedication to the organization's growth. This plan allows employees to benefit from the increase in the company's stock price over a certain period of time. Under the Allegheny Pennsylvania Share Appreciation Rights Plan with amendment, employees are granted the right to receive a cash bonus equal to the appreciation in the company's stock value during a specified period. These rights are typically granted to key employees or executives as a way to motivate and retain top talent within the organization. The amendment to the plan is a modification made to the original terms and conditions of the Share Appreciation Rights Plan. This amendment may include changes to the eligibility criteria, vesting schedule, or payout structure, among other factors. It ensures that the plan remains in compliance with the evolving business needs and regulatory requirements. Different types of Allegheny Pennsylvania Share Appreciation Rights Plans with amendments may exist depending on the organization's specific goals and priorities. Some common variations include: 1. Performance-Based SAR: This type of plan sets specific performance targets that employees must meet to qualify for the appreciation rights. The cash bonus is then determined based on the actual achievement of these targets. 2. Time-Vested SAR: In this plan, employees become eligible to exercise their appreciation rights after completing a certain period of service with the company. The longer an employee stays with the organization, the more rights they accumulate. 3. Cash-Settled SAR: Instead of receiving shares of the company's stock, this plan offers cash bonuses to employees based on the appreciation in the stock price. This type of SAR allows employees to participate in the company's growth without directly owning the stock. 4. Phantom SAR: A phantom SAR plan does not involve the actual issuance of shares or cash payments. Instead, employees receive units or points that track the increase in the stock price. These units can be converted to cash or company stock at a predetermined date or event, such as a change in control or an employee's retirement. The Allegheny Pennsylvania Share Appreciation Rights Plan, with amendments tailored to meet the specific needs of the organization, serves as a valuable tool for incentivizing and rewarding talented employees, fostering their loyalty, and aligning their interests with the company's long-term success.

Allegheny Pennsylvania Share Appreciation Rights Plan (SAR) is a compensation program designed to reward employees of Allegheny, Pennsylvania-based companies for their contributions and dedication to the organization's growth. This plan allows employees to benefit from the increase in the company's stock price over a certain period of time. Under the Allegheny Pennsylvania Share Appreciation Rights Plan with amendment, employees are granted the right to receive a cash bonus equal to the appreciation in the company's stock value during a specified period. These rights are typically granted to key employees or executives as a way to motivate and retain top talent within the organization. The amendment to the plan is a modification made to the original terms and conditions of the Share Appreciation Rights Plan. This amendment may include changes to the eligibility criteria, vesting schedule, or payout structure, among other factors. It ensures that the plan remains in compliance with the evolving business needs and regulatory requirements. Different types of Allegheny Pennsylvania Share Appreciation Rights Plans with amendments may exist depending on the organization's specific goals and priorities. Some common variations include: 1. Performance-Based SAR: This type of plan sets specific performance targets that employees must meet to qualify for the appreciation rights. The cash bonus is then determined based on the actual achievement of these targets. 2. Time-Vested SAR: In this plan, employees become eligible to exercise their appreciation rights after completing a certain period of service with the company. The longer an employee stays with the organization, the more rights they accumulate. 3. Cash-Settled SAR: Instead of receiving shares of the company's stock, this plan offers cash bonuses to employees based on the appreciation in the stock price. This type of SAR allows employees to participate in the company's growth without directly owning the stock. 4. Phantom SAR: A phantom SAR plan does not involve the actual issuance of shares or cash payments. Instead, employees receive units or points that track the increase in the stock price. These units can be converted to cash or company stock at a predetermined date or event, such as a change in control or an employee's retirement. The Allegheny Pennsylvania Share Appreciation Rights Plan, with amendments tailored to meet the specific needs of the organization, serves as a valuable tool for incentivizing and rewarding talented employees, fostering their loyalty, and aligning their interests with the company's long-term success.