Travis Texas Book Value Phantom Stock Plan of First Florida Banks, Inc.

• Category: Corporations - Public - Incentive Compensation Plans
• State: Multi-State
• County: Travis
• 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 Travis Texas Book Value Phantom Stock Plan is a unique compensation plan offered by First Florida Banks, Inc. It provides an opportunity for employees to participate in the growth and success of the company. This plan is specifically designed to reward key employees and align their interests with the long-term performance of First Florida Banks, Inc. The Travis Texas Book Value Phantom Stock Plan offers employees the chance to earn phantom stock units based on the book value of the company. These units represent a notional ownership interest in First Florida Banks, Inc., allowing employees to benefit financially from the company's growth without actual stock ownership. Under this plan, participants receive an annual allocation of phantom stock units based on predetermined criteria and performance benchmarks. The number of units granted to each employee depends on their contribution, tenure, and individual performance. These units accumulate over time and vest after a specified period, ensuring employees remain engaged and committed to the company's long-term success. One of the notable features of the Travis Texas Book Value Phantom Stock Plan is its alignment with the book value of First Florida Banks, Inc. Book value represents the company's net assets after deducting liabilities, and its fluctuation typically reflects the financial performance and growth potential of the organization. By linking the plan to book value, employees have a vested interest in the overall financial health and stability of First Florida Banks, Inc. This creates a symbiotic relationship where employees are incentivized to make decisions that benefit the company and its shareholders. The Travis Texas Book Value Phantom Stock Plan has proven to be an effective tool for attracting and retaining top talent within First Florida Banks, Inc. It provides a sense of ownership and allows employees to share in the company's prosperity. Additionally, this plan encourages employees to think strategically, make sound financial decisions, and contribute to the organization's long-term growth. It's worth mentioning that while the Travis Texas Book Value Phantom Stock Plan is the main offering, First Florida Banks, Inc. may have variations or additional plans depending on the specific needs and goals of certain employee groups. These variations may include different performance metrics, vesting schedules, or eligibility criteria based on department, level, or role. In conclusion, the Travis Texas Book Value Phantom Stock Plan is an innovative compensation program designed to drive the success of First Florida Banks, Inc. It motivates and rewards employees by allowing them to accumulate phantom stock units based on the company's book value, ultimately aligning their incentives with the organization's financial performance.

Travis Texas Book Value Phantom Stock Plan is a unique compensation plan offered by First Florida Banks, Inc. It provides an opportunity for employees to participate in the growth and success of the company. This plan is specifically designed to reward key employees and align their interests with the long-term performance of First Florida Banks, Inc. The Travis Texas Book Value Phantom Stock Plan offers employees the chance to earn phantom stock units based on the book value of the company. These units represent a notional ownership interest in First Florida Banks, Inc., allowing employees to benefit financially from the company's growth without actual stock ownership. Under this plan, participants receive an annual allocation of phantom stock units based on predetermined criteria and performance benchmarks. The number of units granted to each employee depends on their contribution, tenure, and individual performance. These units accumulate over time and vest after a specified period, ensuring employees remain engaged and committed to the company's long-term success. One of the notable features of the Travis Texas Book Value Phantom Stock Plan is its alignment with the book value of First Florida Banks, Inc. Book value represents the company's net assets after deducting liabilities, and its fluctuation typically reflects the financial performance and growth potential of the organization. By linking the plan to book value, employees have a vested interest in the overall financial health and stability of First Florida Banks, Inc. This creates a symbiotic relationship where employees are incentivized to make decisions that benefit the company and its shareholders. The Travis Texas Book Value Phantom Stock Plan has proven to be an effective tool for attracting and retaining top talent within First Florida Banks, Inc. It provides a sense of ownership and allows employees to share in the company's prosperity. Additionally, this plan encourages employees to think strategically, make sound financial decisions, and contribute to the organization's long-term growth. It's worth mentioning that while the Travis Texas Book Value Phantom Stock Plan is the main offering, First Florida Banks, Inc. may have variations or additional plans depending on the specific needs and goals of certain employee groups. These variations may include different performance metrics, vesting schedules, or eligibility criteria based on department, level, or role. In conclusion, the Travis Texas Book Value Phantom Stock Plan is an innovative compensation program designed to drive the success of First Florida Banks, Inc. It motivates and rewards employees by allowing them to accumulate phantom stock units based on the company's book value, ultimately aligning their incentives with the organization's financial performance.