Wake North Carolina Share Appreciation Rights Plan with amendment

• Category: Corporations - Public - Stock Options
• State: Multi-State
• County: Wake
• 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 Wake North Carolina Share Appreciation Rights Plan (SARS) is a type of employee compensation program that rewards eligible employees with appreciation rights based on the increase in the value of the company's stock over a specified period. This plan is specifically designed to acknowledge and appreciate the contributions of employees towards the company's growth and success. The Wake North Carolina Share Appreciation Rights Plan with amendment adds certain modifications to the existing plan to address any changes required by regulatory authorities or to align with the company's evolving business strategies. This amendment ensures the plan remains relevant and effective in motivating and retaining talented employees. The Wake North Carolina Share Appreciation Rights Plan with amendment has different types based on the eligibility criteria and timing of the vested appreciation rights. These types include: 1. Standard Wake North Carolina SARS: This type of SARS is available to all eligible employees, irrespective of their position or tenure. Once the SARS are granted, the employee has to wait for a specified vesting period, typically a few years, before they can exercise their appreciation rights. 2. Performance-based Wake North Carolina SARS: This type of SARS is granted to employees based on their individual or team performance metrics. The appreciation rights are contingent upon achieving specific performance targets, such as revenue growth, cost savings, or market share expansion. This type of SARS provides additional motivation for employees to excel and contributes directly to the company's overall success. 3. Executive Wake North Carolina SARS: This type of SARS is exclusively designed for key executives or top-level management. The appreciation rights granted under this plan are typically substantial and serve as a form of long-term incentive to attract and retain top talent. Executive SARS may have different vesting periods and additional eligibility requirements compared to other types of SARS. The Wake North Carolina Share Appreciation Rights Plan with amendment is a valuable tool for companies to drive employee engagement, reward performance, and align the interests of employees with the company's stock performance. It not only encourages employees to contribute towards the company's growth but also helps in retaining and attracting talented individuals in a competitive business environment.

Wake North Carolina Share Appreciation Rights Plan (SARS) is a type of employee compensation program that rewards eligible employees with appreciation rights based on the increase in the value of the company's stock over a specified period. This plan is specifically designed to acknowledge and appreciate the contributions of employees towards the company's growth and success. The Wake North Carolina Share Appreciation Rights Plan with amendment adds certain modifications to the existing plan to address any changes required by regulatory authorities or to align with the company's evolving business strategies. This amendment ensures the plan remains relevant and effective in motivating and retaining talented employees. The Wake North Carolina Share Appreciation Rights Plan with amendment has different types based on the eligibility criteria and timing of the vested appreciation rights. These types include: 1. Standard Wake North Carolina SARS: This type of SARS is available to all eligible employees, irrespective of their position or tenure. Once the SARS are granted, the employee has to wait for a specified vesting period, typically a few years, before they can exercise their appreciation rights. 2. Performance-based Wake North Carolina SARS: This type of SARS is granted to employees based on their individual or team performance metrics. The appreciation rights are contingent upon achieving specific performance targets, such as revenue growth, cost savings, or market share expansion. This type of SARS provides additional motivation for employees to excel and contributes directly to the company's overall success. 3. Executive Wake North Carolina SARS: This type of SARS is exclusively designed for key executives or top-level management. The appreciation rights granted under this plan are typically substantial and serve as a form of long-term incentive to attract and retain top talent. Executive SARS may have different vesting periods and additional eligibility requirements compared to other types of SARS. The Wake North Carolina Share Appreciation Rights Plan with amendment is a valuable tool for companies to drive employee engagement, reward performance, and align the interests of employees with the company's stock performance. It not only encourages employees to contribute towards the company's growth but also helps in retaining and attracting talented individuals in a competitive business environment.