Alameda California Book Value Phantom Stock Plan of First Florida Banks, Inc.

• Category: Corporations - Public - Incentive Compensation Plans
• State: Multi-State
• County: Alameda
• Control #: US-CC-20-162A
• Format: Word; Rich Text

Description

20-162A 20-162A . . . Book Value Phantom Stock Plan under which Committee of Board of Directors may, from time to time, grant quantity of phantom shares to selected employees, each share being equivalent to one share of corporation common stock. Phantom shares may be exercised at any time within ten years of date of grant (subject to certain limitations in event of termination of employment) Upon exercise, employee is paid cash equal to increase in underlying net book value per share on fully diluted basis of shares between date of grant and date of exercise The Alameda California Book Value Phantom Stock Plan of First Florida Banks, Inc. is a unique financial plan designed to provide employees with a means to participate in the company's success while aligning their interests with the overall growth of the organization. This plan offers a variety of benefits and opportunities for employees to maximize their financial potential. One of the main features of the Alameda California Book Value Phantom Stock Plan is the incorporation of book value as a determining factor for stock allocation. Book value represents the net value of the company's assets minus its liabilities, providing a transparent and accurate measure of the organization's financial health. By basing the stock allocation on book value, employees can have confidence in the plan's fairness and reliability. The Alameda California Book Value Phantom Stock Plan comes in several variants that adapt to the differing needs and preferences of employees: 1. Basic Plan: This variant is the standard offering that provides employees with the opportunity to earn stock units based on the growth of the company's book value over time. 2. Performance-based Plan: As an additional incentive, this plan is available to high-performing employees who meet specific performance goals, enhancing their potential stock unit accumulation. 3. Long-term Plan: This plan aims to reward employees who demonstrate a long-term commitment to the company by offering greater stock unit incentives that mature over an extended period, aligning their interests with the organization's sustained growth. 4. Executive Plan: Catering to upper-level management and key executives, this plan provides a more tailored approach, offering enhanced stock unit rewards based on the executive's contributions and strategic decisions impacting the company's book value. 5. Employee Stock Option Plan (ESOP): While not directly related to the Alameda California Book Value Phantom Stock Plan, it is worth mentioning that First Florida Banks, Inc. also offers an ESOP which allows employees to purchase company stock at a predetermined price, further fostering a sense of ownership and shared success. Overall, the Alameda California Book Value Phantom Stock Plan of First Florida Banks, Inc. provides employees with a tangible stake in the company's financial performance, fostering a culture of shared growth and incentivizing employee dedication. With various plan options available, employees can choose the plan that best suits their career trajectory and financial goals, ensuring a mutually beneficial relationship between employee and company.

The Alameda California Book Value Phantom Stock Plan of First Florida Banks, Inc. is a unique financial plan designed to provide employees with a means to participate in the company's success while aligning their interests with the overall growth of the organization. This plan offers a variety of benefits and opportunities for employees to maximize their financial potential. One of the main features of the Alameda California Book Value Phantom Stock Plan is the incorporation of book value as a determining factor for stock allocation. Book value represents the net value of the company's assets minus its liabilities, providing a transparent and accurate measure of the organization's financial health. By basing the stock allocation on book value, employees can have confidence in the plan's fairness and reliability. The Alameda California Book Value Phantom Stock Plan comes in several variants that adapt to the differing needs and preferences of employees: 1. Basic Plan: This variant is the standard offering that provides employees with the opportunity to earn stock units based on the growth of the company's book value over time. 2. Performance-based Plan: As an additional incentive, this plan is available to high-performing employees who meet specific performance goals, enhancing their potential stock unit accumulation. 3. Long-term Plan: This plan aims to reward employees who demonstrate a long-term commitment to the company by offering greater stock unit incentives that mature over an extended period, aligning their interests with the organization's sustained growth. 4. Executive Plan: Catering to upper-level management and key executives, this plan provides a more tailored approach, offering enhanced stock unit rewards based on the executive's contributions and strategic decisions impacting the company's book value. 5. Employee Stock Option Plan (ESOP): While not directly related to the Alameda California Book Value Phantom Stock Plan, it is worth mentioning that First Florida Banks, Inc. also offers an ESOP which allows employees to purchase company stock at a predetermined price, further fostering a sense of ownership and shared success. Overall, the Alameda California Book Value Phantom Stock Plan of First Florida Banks, Inc. provides employees with a tangible stake in the company's financial performance, fostering a culture of shared growth and incentivizing employee dedication. With various plan options available, employees can choose the plan that best suits their career trajectory and financial goals, ensuring a mutually beneficial relationship between employee and company.