Hillsborough Florida Long Term Incentive Program for Senior Management

• Category: Corporations - Public - Incentive Compensation Plans
• State: Multi-State
• County: Hillsborough
• 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 Hillsborough Florida Long Term Incentive Program for Senior Management is an initiative aimed at attracting and retaining talented executives within the county. This program offers various long-term incentives to senior management personnel, encouraging their continued commitment and contribution to the growth and development of Hillsborough County. One type of Hillsborough Florida Long Term Incentive Program for Senior Management is the Performance-Based Stock Option Plan. This plan awards eligible senior executives with stock options based on predetermined performance goals and objectives. By aligning the compensation with company performance, this program motivates executives to achieve strategic targets and create value for the organization. Another type is the Deferred Compensation Plan. Under this program, senior management personnel can defer a portion of their salary, bonus, or other incentives until retirement or specific milestones. The deferred amount is invested, allowing it to grow over time. This plan provides financial security and acts as a retention tool, as executives are incentivized to remain with the company until reaching retirement age or set goals. Additionally, the Hillsborough Florida Long Term Incentive Program for Senior Management may include a Restricted Stock Unit (RSU) Grant. RSS are company-specific units that become shares once certain conditions, such as a predetermined vesting period or performance criteria, are met. This plan offers executives a stake in the company's success while ensuring their continued commitment, as they must remain employed with the organization to receive the full benefit. The program might also encompass an Employee Stock Purchase Plan (ESPN), enabling senior management to purchase company stock at a discounted price. This plan encourages executives to become shareholders, aligning their interests with those of other investors. By allowing them to acquire shares at a reduced cost, the ESPN serves as an additional long-term incentive while fostering a sense of ownership and commitment to the organization's growth. In summary, the Hillsborough Florida Long Term Incentive Program for Senior Management offers various types of incentives such as Performance-Based Stock Option Plans, Deferred Compensation Plans, Restricted Stock Unit Grants, and Employee Stock Purchase Plans. These programs ensure the retention and motivation of talented executives, aligning their interests with the long-term success of Hillsborough County.

The Hillsborough Florida Long Term Incentive Program for Senior Management is an initiative aimed at attracting and retaining talented executives within the county. This program offers various long-term incentives to senior management personnel, encouraging their continued commitment and contribution to the growth and development of Hillsborough County. One type of Hillsborough Florida Long Term Incentive Program for Senior Management is the Performance-Based Stock Option Plan. This plan awards eligible senior executives with stock options based on predetermined performance goals and objectives. By aligning the compensation with company performance, this program motivates executives to achieve strategic targets and create value for the organization. Another type is the Deferred Compensation Plan. Under this program, senior management personnel can defer a portion of their salary, bonus, or other incentives until retirement or specific milestones. The deferred amount is invested, allowing it to grow over time. This plan provides financial security and acts as a retention tool, as executives are incentivized to remain with the company until reaching retirement age or set goals. Additionally, the Hillsborough Florida Long Term Incentive Program for Senior Management may include a Restricted Stock Unit (RSU) Grant. RSS are company-specific units that become shares once certain conditions, such as a predetermined vesting period or performance criteria, are met. This plan offers executives a stake in the company's success while ensuring their continued commitment, as they must remain employed with the organization to receive the full benefit. The program might also encompass an Employee Stock Purchase Plan (ESPN), enabling senior management to purchase company stock at a discounted price. This plan encourages executives to become shareholders, aligning their interests with those of other investors. By allowing them to acquire shares at a reduced cost, the ESPN serves as an additional long-term incentive while fostering a sense of ownership and commitment to the organization's growth. In summary, the Hillsborough Florida Long Term Incentive Program for Senior Management offers various types of incentives such as Performance-Based Stock Option Plans, Deferred Compensation Plans, Restricted Stock Unit Grants, and Employee Stock Purchase Plans. These programs ensure the retention and motivation of talented executives, aligning their interests with the long-term success of Hillsborough County.