Suffolk New York Management Stock Purchase Plan

• Category: Corporations - Public - Employees
• State: Multi-State
• County: Suffolk
• Control #: US-CC-19-223D
• Format: Word; Rich Text

Description

19-223D 19-223D . . . Management Stock Purchase Plan under which Executive Compensation Committee can grant options to key employees (including officers) at prices equal to 60% of market value. Payment is made by delivery of five full recourse interest-bearing serial promissory notes, each for 20% of total purchase price, which mature on five succeeding anniversary dates of date of grant. Committee may forgive any payment of interest or principal on promissory notes if employee is then still employed by Company, has died, or become disabled or retired The Suffolk New York Management Stock Purchase Plan is a unique program offered by Suffolk County, New York, that allows eligible employees to purchase company stocks at a discounted rate. This program is designed to incentivize employees to invest in the success of the company and provide them with an opportunity to share in its financial growth. The Suffolk New York Management Stock Purchase Plan offers various types of stock purchase options, each tailored to the individual needs and preferences of the employees. These options include: 1. Traditional Stock Purchase Plan: This is the most common type of plan offered by Suffolk County. Eligible employees can contribute a portion of their salary on a regular basis, usually through payroll deductions, to purchase company stocks at a predetermined discounted rate. This plan allows employees to accumulate shares over time and potentially benefit from any increase in the stock's value. 2. Direct Stock Purchase Plan: This plan allows employees to purchase company stocks directly from Suffolk County without the need for a broker. Employees can buy the stocks at market price, which can be beneficial if the stock's value is expected to rise. This plan offers flexibility and convenience to employees who prefer to have full control over their stock purchases. 3. Stock Option Purchase Plan: This plan grants eligible employees the right to purchase company stocks at a preset price within a specified time frame. The employee has the option to exercise these rights if they believe the stock's value will increase, allowing them to buy the stocks at a lower price and potentially generate profits later. 4. Restricted Stock Purchase Plan: Under this plan, eligible employees are awarded a specific number of company stocks, often referred to as restricted stock units (RSS). These stocks are initially restricted, meaning employees cannot sell or transfer them until certain vesting conditions are met, such as attaining a certain tenure or achieving specific performance objectives. Once the restrictions are lifted, employees can sell the stocks or continue to hold them. The Suffolk New York Management Stock Purchase Plan offers employees an excellent opportunity to participate in the company's financial success and build their wealth. By purchasing company stocks at a discounted rate, employees can potentially benefit from any increase in the stock's value over time. These plans are strategically designed to align the interests of the employees and the company, fostering a sense of ownership and motivation among the workforce.

The Suffolk New York Management Stock Purchase Plan is a unique program offered by Suffolk County, New York, that allows eligible employees to purchase company stocks at a discounted rate. This program is designed to incentivize employees to invest in the success of the company and provide them with an opportunity to share in its financial growth. The Suffolk New York Management Stock Purchase Plan offers various types of stock purchase options, each tailored to the individual needs and preferences of the employees. These options include: 1. Traditional Stock Purchase Plan: This is the most common type of plan offered by Suffolk County. Eligible employees can contribute a portion of their salary on a regular basis, usually through payroll deductions, to purchase company stocks at a predetermined discounted rate. This plan allows employees to accumulate shares over time and potentially benefit from any increase in the stock's value. 2. Direct Stock Purchase Plan: This plan allows employees to purchase company stocks directly from Suffolk County without the need for a broker. Employees can buy the stocks at market price, which can be beneficial if the stock's value is expected to rise. This plan offers flexibility and convenience to employees who prefer to have full control over their stock purchases. 3. Stock Option Purchase Plan: This plan grants eligible employees the right to purchase company stocks at a preset price within a specified time frame. The employee has the option to exercise these rights if they believe the stock's value will increase, allowing them to buy the stocks at a lower price and potentially generate profits later. 4. Restricted Stock Purchase Plan: Under this plan, eligible employees are awarded a specific number of company stocks, often referred to as restricted stock units (RSS). These stocks are initially restricted, meaning employees cannot sell or transfer them until certain vesting conditions are met, such as attaining a certain tenure or achieving specific performance objectives. Once the restrictions are lifted, employees can sell the stocks or continue to hold them. The Suffolk New York Management Stock Purchase Plan offers employees an excellent opportunity to participate in the company's financial success and build their wealth. By purchasing company stocks at a discounted rate, employees can potentially benefit from any increase in the stock's value over time. These plans are strategically designed to align the interests of the employees and the company, fostering a sense of ownership and motivation among the workforce.