Kings New York Share Appreciation Rights Plan with amendment

• Category: Corporations - Public - Stock Options
• State: Multi-State
• County: Kings
• 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 The Kings New York Share Appreciation Rights Plan (SARS) is a unique compensation program implemented by Kings New York, a renowned company in the financial industry. The SARS plan aims to reward employees by providing them with the opportunity to benefit from the appreciation in the company's stock value. Under the Kings New York SARS Plan, eligible employees are granted a certain number of SARS units, giving them the right to receive a cash payment equivalent to the increase in the company's stock price over a specified period. It is important to note that SARS do not represent ownership in the company but rather provide a financial incentive tied to the company's performance. With the amendment to the Kings New York SARS Plan, several variations have been introduced to cater to the diverse needs of employees. These variations include: 1. Performance-based SARS: This type of SARS plan is designed to reward employees based on specific performance metrics, such as meeting sales targets, achieving revenue growth, or successfully launching new products or services. The amendment allows for customizing the performance criteria, aligning the incentives with individual and company objectives. 2. Time-based SARS: This variant of the SARS plan focuses on rewarding employees based on their tenure with the company. As employees accumulate years of service, they become eligible for an increasing number of SARS units. The amendment ensures that long-serving employees receive a fair share of the potential stock appreciation. 3. Division-specific SARS: Kings New York recognizes the importance of different business divisions within the company. With this amendment, the SARS plan can be tailored to specific divisions, aligning the compensation structure with the performance goals and challenges unique to each department. This helps promote a sense of ownership and motivation within specialized teams. 4. Executive-level SARS: The amendment also introduces a separate SARS plan for executives and senior management personnel. This plan grants a higher number of SARS units to top-level employees, reflecting their leadership roles and responsibilities. This encourages executives to drive the company's growth and boosts overall performance. The Kings New York SARS Plan with amendment not only serves as a valuable retention tool to attract and retain talented employees but also aligns their interests with the shareholders by linking compensation to the company's stock performance. By offering different types of SARS plans, Kings New York ensures that employees at all levels and divisions have opportunities to participate and benefit from the company's success.

The Kings New York Share Appreciation Rights Plan (SARS) is a unique compensation program implemented by Kings New York, a renowned company in the financial industry. The SARS plan aims to reward employees by providing them with the opportunity to benefit from the appreciation in the company's stock value. Under the Kings New York SARS Plan, eligible employees are granted a certain number of SARS units, giving them the right to receive a cash payment equivalent to the increase in the company's stock price over a specified period. It is important to note that SARS do not represent ownership in the company but rather provide a financial incentive tied to the company's performance. With the amendment to the Kings New York SARS Plan, several variations have been introduced to cater to the diverse needs of employees. These variations include: 1. Performance-based SARS: This type of SARS plan is designed to reward employees based on specific performance metrics, such as meeting sales targets, achieving revenue growth, or successfully launching new products or services. The amendment allows for customizing the performance criteria, aligning the incentives with individual and company objectives. 2. Time-based SARS: This variant of the SARS plan focuses on rewarding employees based on their tenure with the company. As employees accumulate years of service, they become eligible for an increasing number of SARS units. The amendment ensures that long-serving employees receive a fair share of the potential stock appreciation. 3. Division-specific SARS: Kings New York recognizes the importance of different business divisions within the company. With this amendment, the SARS plan can be tailored to specific divisions, aligning the compensation structure with the performance goals and challenges unique to each department. This helps promote a sense of ownership and motivation within specialized teams. 4. Executive-level SARS: The amendment also introduces a separate SARS plan for executives and senior management personnel. This plan grants a higher number of SARS units to top-level employees, reflecting their leadership roles and responsibilities. This encourages executives to drive the company's growth and boosts overall performance. The Kings New York SARS Plan with amendment not only serves as a valuable retention tool to attract and retain talented employees but also aligns their interests with the shareholders by linking compensation to the company's stock performance. By offering different types of SARS plans, Kings New York ensures that employees at all levels and divisions have opportunities to participate and benefit from the company's success.