Contra Costa California Directors' Stock Deferral Plan for Norwest Corp.

• Category: Corporations - Public - Incentive Compensation Plans
• State: Multi-State
• County: Contra Costa
• Control #: US-CC-20-111C
• Format: Word; Rich Text

Description

20-111C 20-111C . . . Directors' Stock Deferral Plan which allow participants to defer to later year certain compensation which would otherwise be includable in income for tax purposes in year in which it would have been paid. The Plans also provide for investment of such compensation in deferred stock account in form of shares of corporation common stock The Contra Costa California Directors' Stock Deferral Plan is a specialized retirement benefit program offered by Nor west Corp. to its board members serving in the Contra Costa County, California area. This plan allows directors of Nor west Corp. in Contra Costa County to defer receiving stock-based compensation for a specified period, typically until retirement. Nor west Corp. offers different types of Contra Costa California Directors' Stock Deferral Plans based on the needs and preferences of its directors. These options include: 1. Basic Stock Deferral Plan: This plan allows directors to defer receiving a portion or all of their stock-based compensation until a predetermined date in the future. By deferring the receipt of stock, directors can potentially delay taxation on the stock and leverage potential future stock price appreciation. 2. Stock Option Deferral Plan: This plan enables directors to defer exercising their stock options until a later date. By deferring the exercise, directors can delay the associated tax liabilities and maximize potential gains if the stock price increases over time. 3. Restricted Stock Unit (RSU) Deferral Plan: Directors can choose to defer receiving RSS until a specific date or event, such as retirement or a predetermined vesting period. This allows directors to align the realization of their RSS with their long-term financial goals, potentially reducing tax burdens and optimizing investment strategies. 4. Performance Share Deferral Plan: Nor west Corp. may offer a plan specifically tailored to directors receiving performance-based stock awards. Directors can defer the receipt of their performance shares until the achievement of specific performance goals or until a predetermined future date. By providing these different types of Contra Costa California Directors' Stock Deferral Plans, Nor west Corp. seeks to offer its directors in Contra Costa County the flexibility and choice to align their stock-based compensation with their individual financial goals, tax planning strategies, and retirement objectives.

The Contra Costa California Directors' Stock Deferral Plan is a specialized retirement benefit program offered by Nor west Corp. to its board members serving in the Contra Costa County, California area. This plan allows directors of Nor west Corp. in Contra Costa County to defer receiving stock-based compensation for a specified period, typically until retirement. Nor west Corp. offers different types of Contra Costa California Directors' Stock Deferral Plans based on the needs and preferences of its directors. These options include: 1. Basic Stock Deferral Plan: This plan allows directors to defer receiving a portion or all of their stock-based compensation until a predetermined date in the future. By deferring the receipt of stock, directors can potentially delay taxation on the stock and leverage potential future stock price appreciation. 2. Stock Option Deferral Plan: This plan enables directors to defer exercising their stock options until a later date. By deferring the exercise, directors can delay the associated tax liabilities and maximize potential gains if the stock price increases over time. 3. Restricted Stock Unit (RSU) Deferral Plan: Directors can choose to defer receiving RSS until a specific date or event, such as retirement or a predetermined vesting period. This allows directors to align the realization of their RSS with their long-term financial goals, potentially reducing tax burdens and optimizing investment strategies. 4. Performance Share Deferral Plan: Nor west Corp. may offer a plan specifically tailored to directors receiving performance-based stock awards. Directors can defer the receipt of their performance shares until the achievement of specific performance goals or until a predetermined future date. By providing these different types of Contra Costa California Directors' Stock Deferral Plans, Nor west Corp. seeks to offer its directors in Contra Costa County the flexibility and choice to align their stock-based compensation with their individual financial goals, tax planning strategies, and retirement objectives.