Cook Illinois Long Term Incentive Program for Senior Management

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

Description

20-162L 20-162L . . . Long Term Incentive Program For Senior Management under which Compensation Committee may award (a) stock appreciation rights and (b) performance share units. Performance share units entitle holder to receive cash payment equal to (i) average market price of one share of corporation common stock during December ("Measuring Month") in third calendar year following year in which award is made, plus (ii) aggregate dividends with respect to one share of corporation common stock from January 1 of year in which award is made until last day of Measuring Month. At maturity, number of units initially awarded shall be (i) multiplied by fraction that corresponds to average annual percentage increase or decrease in book value per share of corporation common stock over four year period prior to maturity, and (ii) then further adjusted based on ratio of market value of corporation common stock to its book value as compared to that of comparable electric utility companies Cook Illinois Corporation offers a comprehensive Long Term Incentive Program for Senior Management as part of its robust compensation package. This program serves as a strategic tool to attract, retain, and motivate top talent within the organization. Cook Illinois Corporation recognizes the value of aligning the success of its senior management team with the company's long-term goals. By providing long-term incentives, the program encourages executive leaders to make decisions that promote sustained growth and shareholder value. The Cook Illinois Long Term Incentive Program for Senior Management comprises several types of incentives, each tailored to meet the specific needs and objectives of the company and its executives. These types can include: 1. Restricted Stock Units (RSS): Cook Illinois offers RSS to senior management as a way to grant ownership interest in the company. Executives receive these units as part of their compensation, but they cannot be sold until specific conditions are met, typically tied to the performance of the company or other predetermined metrics. This ensures that executives are committed to the long-term success of Cook Illinois. 2. Performance-Based Stock Options: Cook Illinois may also grant stock options to senior management based on performance goals, such as achieving revenue targets or increasing market share. These options provide the right to purchase company stock at a predetermined price within a specified time frame. By linking stock options to performance, Cook Illinois incentivizes executives to actively contribute to the company's growth and profitability. 3. Cash Incentive Plans: In addition to equity-based incentives, Cook Illinois may offer cash bonus plans to senior management based on predetermined performance objectives. These objectives can range from financial targets, such as achieving earnings per share or return on investment goals, to non-financial targets, such as successful completion of strategic projects or maintaining excellent customer satisfaction ratings. Cash bonuses provide immediate rewards for exceptional performance and motivate senior management to go above and beyond their regular duties. 4. Deferred Compensation Plans: Cook Illinois may offer senior executives the opportunity to defer a portion of their salary or bonuses into a dedicated account for future payout. This allows executives to accumulate additional retirement savings and defer income taxes until the funds are withdrawn. Deferred compensation plans help provide long-term financial security and serve as a retention tool for senior management. It is important to note that the specific details and structure of the Cook Illinois Long Term Incentive Program for Senior Management may vary depending on individual performance evaluations, seniority, and other factors. The program is designed to be competitive within the industry and provide a comprehensive package that rewards and retains high-performing executives, contributing to the overall success and growth of Cook Illinois Corporation.

Cook Illinois Corporation offers a comprehensive Long Term Incentive Program for Senior Management as part of its robust compensation package. This program serves as a strategic tool to attract, retain, and motivate top talent within the organization. Cook Illinois Corporation recognizes the value of aligning the success of its senior management team with the company's long-term goals. By providing long-term incentives, the program encourages executive leaders to make decisions that promote sustained growth and shareholder value. The Cook Illinois Long Term Incentive Program for Senior Management comprises several types of incentives, each tailored to meet the specific needs and objectives of the company and its executives. These types can include: 1. Restricted Stock Units (RSS): Cook Illinois offers RSS to senior management as a way to grant ownership interest in the company. Executives receive these units as part of their compensation, but they cannot be sold until specific conditions are met, typically tied to the performance of the company or other predetermined metrics. This ensures that executives are committed to the long-term success of Cook Illinois. 2. Performance-Based Stock Options: Cook Illinois may also grant stock options to senior management based on performance goals, such as achieving revenue targets or increasing market share. These options provide the right to purchase company stock at a predetermined price within a specified time frame. By linking stock options to performance, Cook Illinois incentivizes executives to actively contribute to the company's growth and profitability. 3. Cash Incentive Plans: In addition to equity-based incentives, Cook Illinois may offer cash bonus plans to senior management based on predetermined performance objectives. These objectives can range from financial targets, such as achieving earnings per share or return on investment goals, to non-financial targets, such as successful completion of strategic projects or maintaining excellent customer satisfaction ratings. Cash bonuses provide immediate rewards for exceptional performance and motivate senior management to go above and beyond their regular duties. 4. Deferred Compensation Plans: Cook Illinois may offer senior executives the opportunity to defer a portion of their salary or bonuses into a dedicated account for future payout. This allows executives to accumulate additional retirement savings and defer income taxes until the funds are withdrawn. Deferred compensation plans help provide long-term financial security and serve as a retention tool for senior management. It is important to note that the specific details and structure of the Cook Illinois Long Term Incentive Program for Senior Management may vary depending on individual performance evaluations, seniority, and other factors. The program is designed to be competitive within the industry and provide a comprehensive package that rewards and retains high-performing executives, contributing to the overall success and growth of Cook Illinois Corporation.