Franklin Ohio Long Term Incentive Program for Senior Management

• Category: Corporations - Public - Incentive Compensation Plans
• State: Multi-State
• County: Franklin
• 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 The Franklin Ohio Long Term Incentive Program for Senior Management is a comprehensive program designed to reward and retain top-tier executives for their long-term contributions to the organization. This program offers a range of incentives, benefits, and bonuses to senior management personnel, encouraging their continued dedication and commitment to the company's success. One prominent type of long-term incentive program offered by Franklin Ohio is the stock-based compensation plan. Under this plan, eligible senior executives are granted stock options, restricted stock units (RSS), or performance share units (Plus) as part of their compensation package. These equity-based awards are typically subject to vesting schedules, ensuring that executives remain with the company for a certain period to earn the full benefits. Another type of long-term incentive program introduced by Franklin Ohio is the cash-based bonus plan. This plan rewards senior management based on predetermined performance goals and financial metrics established by the organization. Executives may receive bonuses annually or over a specific period, aligning their interests with the company's long-term growth and profitability. Moreover, the Franklin Ohio Long Term Incentive Program for Senior Management may include non-financial incentives such as retirement and pension benefits. These programs may contribute to the financial security and stability of senior executives beyond their active employment period. By offering attractive retirement packages, the program aims to motivate executives to remain committed and dedicated to the organization over the long term. The Franklin Ohio Long Term Incentive Program for Senior Management is carefully designed to align the interests of executives with the strategic goals and mission of the company. It recognizes the crucial role that senior management plays in driving organizational success and ensures their continued dedication by offering attractive and competitive incentives. By implementing this program, Franklin Ohio aims to retain talented executives, foster a long-term perspective, and elevate overall company performance.

The Franklin Ohio Long Term Incentive Program for Senior Management is a comprehensive program designed to reward and retain top-tier executives for their long-term contributions to the organization. This program offers a range of incentives, benefits, and bonuses to senior management personnel, encouraging their continued dedication and commitment to the company's success. One prominent type of long-term incentive program offered by Franklin Ohio is the stock-based compensation plan. Under this plan, eligible senior executives are granted stock options, restricted stock units (RSS), or performance share units (Plus) as part of their compensation package. These equity-based awards are typically subject to vesting schedules, ensuring that executives remain with the company for a certain period to earn the full benefits. Another type of long-term incentive program introduced by Franklin Ohio is the cash-based bonus plan. This plan rewards senior management based on predetermined performance goals and financial metrics established by the organization. Executives may receive bonuses annually or over a specific period, aligning their interests with the company's long-term growth and profitability. Moreover, the Franklin Ohio Long Term Incentive Program for Senior Management may include non-financial incentives such as retirement and pension benefits. These programs may contribute to the financial security and stability of senior executives beyond their active employment period. By offering attractive retirement packages, the program aims to motivate executives to remain committed and dedicated to the organization over the long term. The Franklin Ohio Long Term Incentive Program for Senior Management is carefully designed to align the interests of executives with the strategic goals and mission of the company. It recognizes the crucial role that senior management plays in driving organizational success and ensures their continued dedication by offering attractive and competitive incentives. By implementing this program, Franklin Ohio aims to retain talented executives, foster a long-term perspective, and elevate overall company performance.