Harris Texas Long Term Incentive Program for Senior Management

• Category: Corporations - Public - Incentive Compensation Plans
• State: Multi-State
• County: Harris
• 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 Harris Texas Long Term Incentive Program for Senior Management is a comprehensive pay structure designed to reward and incentivize senior managers for their long-term commitment, leadership, and performance within the organization. This program aims to align the interests of senior management with the overall objectives and success of Harris Texas, promoting retention and motivation for top talent. One type of the Harris Texas Long Term Incentive Program for Senior Management is the Equity-Based Plan. This plan provides senior managers with an equity stake in the company, usually in the form of stock options or restricted stock units (RSS). These grants are often subject to vesting periods, ensuring that managers stay committed to the organization's growth and success for a defined period of time. Another type of incentive program is the Performance-Based Bonus Plan. Under this plan, senior managers are eligible for significant cash bonuses based on specific performance metrics and goals established by the company. These metrics can vary and may include financial targets, revenue growth, cost reductions, customer satisfaction, or other key performance indicators (KPIs) that align with the company's strategic objectives. Additionally, Harris Texas may offer a Deferred Compensation Plan as part of its long-term incentive program. This plan allows senior managers to defer a portion of their cash compensation into a separate account, which earns interest or investments over time. This deferred amount is then paid out at a later date, such as retirement or a predetermined milestone, providing additional financial security and reward for long-term service. The Harris Texas Long Term Incentive Program for Senior Management is carefully designed to attract and retain top executive talent within the organization. These programs help create a sense of ownership and commitment among senior managers, as their financial well-being is directly tied to the company's overall performance and success. By offering a mix of equity-based grants, performance-based bonuses, and deferred compensation plans, Harris Texas aims to motivate and reward senior managers who consistently contribute to the company's long-term growth and strategic objectives.

The Harris Texas Long Term Incentive Program for Senior Management is a comprehensive pay structure designed to reward and incentivize senior managers for their long-term commitment, leadership, and performance within the organization. This program aims to align the interests of senior management with the overall objectives and success of Harris Texas, promoting retention and motivation for top talent. One type of the Harris Texas Long Term Incentive Program for Senior Management is the Equity-Based Plan. This plan provides senior managers with an equity stake in the company, usually in the form of stock options or restricted stock units (RSS). These grants are often subject to vesting periods, ensuring that managers stay committed to the organization's growth and success for a defined period of time. Another type of incentive program is the Performance-Based Bonus Plan. Under this plan, senior managers are eligible for significant cash bonuses based on specific performance metrics and goals established by the company. These metrics can vary and may include financial targets, revenue growth, cost reductions, customer satisfaction, or other key performance indicators (KPIs) that align with the company's strategic objectives. Additionally, Harris Texas may offer a Deferred Compensation Plan as part of its long-term incentive program. This plan allows senior managers to defer a portion of their cash compensation into a separate account, which earns interest or investments over time. This deferred amount is then paid out at a later date, such as retirement or a predetermined milestone, providing additional financial security and reward for long-term service. The Harris Texas Long Term Incentive Program for Senior Management is carefully designed to attract and retain top executive talent within the organization. These programs help create a sense of ownership and commitment among senior managers, as their financial well-being is directly tied to the company's overall performance and success. By offering a mix of equity-based grants, performance-based bonuses, and deferred compensation plans, Harris Texas aims to motivate and reward senior managers who consistently contribute to the company's long-term growth and strategic objectives.