Montgomery Maryland Book Value Phantom Stock Plan of First Florida Banks, Inc.

• Category: Corporations - Public - Incentive Compensation Plans
• State: Multi-State
• County: Montgomery
• 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 Montgomery Maryland Book Value Phantom Stock Plan is a comprehensive compensation program implemented by First Florida Banks, Inc. to reward and retain key employees within their organization. This plan allows participants to receive hypothetical stock units, known as phantom stock, which mirror the value of the company's actual stock. First Florida Banks, Inc. designed the Montgomery Maryland Book Value Phantom Stock Plan to provide employees with a sense of ownership and align their interests with the long-term success of the company. By offering a performance-based incentive tied to the organization's book value, the plan encourages participants to contribute to the growth and profitability of First Florida Banks, Inc. The plan operates by granting phantom stock units to eligible employees, based on predetermined vesting and performance criteria. These units represent notional shares of First Florida Banks, Inc. stock and are subject to adjustments based on changes in the company's book value over time. Participants of the Montgomery Maryland Book Value Phantom Stock Plan have the opportunity to accumulate these phantom stock units and see their value increase as the company achieves its financial objectives. The plan sets specific performance targets, such as book value growth or profitability metrics, which determine the ultimate payout to eligible participants. There are different variations of the Montgomery Maryland Book Value Phantom Stock Plan available to employees depending on their level of seniority or job role within First Florida Banks, Inc. These variations may include Executive Phantom Stock Plans, Director-level Plans, and Employee Phantom Stock Plans. Each plan is tailored to the unique needs and objectives of the respective employee group. The Montgomery Maryland Book Value Phantom Stock Plan not only serves as a valuable employment incentive but also enhances employee engagement and loyalty. It aligns the interests of the participants with the company's overall success while fostering a culture of pride and ownership within First Florida Banks, Inc. In conclusion, the Montgomery Maryland Book Value Phantom Stock Plan is a strategic compensation program designed by First Florida Banks, Inc. to retain and motivate key employees. By granting phantom stock units tied to the company's book value, it provides participants with an opportunity to benefit from the organization's growth and success. Different variations of the plan exist to cater to various employee groups, ensuring a fair and inclusive reward system.

The Montgomery Maryland Book Value Phantom Stock Plan is a comprehensive compensation program implemented by First Florida Banks, Inc. to reward and retain key employees within their organization. This plan allows participants to receive hypothetical stock units, known as phantom stock, which mirror the value of the company's actual stock. First Florida Banks, Inc. designed the Montgomery Maryland Book Value Phantom Stock Plan to provide employees with a sense of ownership and align their interests with the long-term success of the company. By offering a performance-based incentive tied to the organization's book value, the plan encourages participants to contribute to the growth and profitability of First Florida Banks, Inc. The plan operates by granting phantom stock units to eligible employees, based on predetermined vesting and performance criteria. These units represent notional shares of First Florida Banks, Inc. stock and are subject to adjustments based on changes in the company's book value over time. Participants of the Montgomery Maryland Book Value Phantom Stock Plan have the opportunity to accumulate these phantom stock units and see their value increase as the company achieves its financial objectives. The plan sets specific performance targets, such as book value growth or profitability metrics, which determine the ultimate payout to eligible participants. There are different variations of the Montgomery Maryland Book Value Phantom Stock Plan available to employees depending on their level of seniority or job role within First Florida Banks, Inc. These variations may include Executive Phantom Stock Plans, Director-level Plans, and Employee Phantom Stock Plans. Each plan is tailored to the unique needs and objectives of the respective employee group. The Montgomery Maryland Book Value Phantom Stock Plan not only serves as a valuable employment incentive but also enhances employee engagement and loyalty. It aligns the interests of the participants with the company's overall success while fostering a culture of pride and ownership within First Florida Banks, Inc. In conclusion, the Montgomery Maryland Book Value Phantom Stock Plan is a strategic compensation program designed by First Florida Banks, Inc. to retain and motivate key employees. By granting phantom stock units tied to the company's book value, it provides participants with an opportunity to benefit from the organization's growth and success. Different variations of the plan exist to cater to various employee groups, ensuring a fair and inclusive reward system.