Phoenix Arizona Long Term Incentive Program for Senior Management

• Category: Corporations - Public - Incentive Compensation Plans
• State: Multi-State
• City: Phoenix
• 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 Phoenix Arizona Long Term Incentive Program for Senior Management is a strategic and rewarding initiative aimed at attracting and retaining top-tier talent in senior leadership roles within organizations based in Phoenix, Arizona. This program offers long-term incentives and benefits to senior management employees, serving as a motivating factor for their continued dedication, loyalty, and performance. Key components of the Phoenix Arizona Long Term Incentive Program for Senior Management include equity-based compensation, performance-based bonuses, and retirement plans. These incentives are designed to align the interests of senior management with the long-term success and growth of the organization. By tying compensation to the achievement of strategic goals and overall company performance, this program encourages senior managers to create sustainable value, make sound decisions, and execute effective leadership strategies. There are various types of Long Term Incentive Programs that are available within the framework of this initiative to cater to the diverse needs and preferences of senior management employees. These programs can be categorized as follows: 1. Stock Options: Stock options provide senior management with the opportunity to purchase company stock at a predetermined price, known as the strike price, within a specific timeframe. This enables them to benefit from any potential increase in stock value, providing a long-term financial reward based on organizational growth and success. 2. Restricted Stock Units (RSS): RSS are grants of company stock that are subject to a vesting period. Senior managers receive RSS but cannot sell or transfer them until the vesting conditions are met (e.g., a specific number of years of service). Once vested, RSS convert into common shares, providing a tangible equity ownership stake in the company. 3. Performance Shares: Performance shares are awarded to senior management based on predetermined performance criteria, such as achieving specific financial targets, meeting operational goals, or driving shareholder value. These shares are granted contingent upon the fulfillment of performance conditions, tying compensation directly to the executive's ability to deliver results. 4. Cash Bonuses: Cash bonuses are another aspect of the long-term incentive program intended to reward senior managers for exceptional performance, meeting or exceeding goals, or accomplishing significant milestones. These bonuses may be paid out periodically or upon the achievement of specific targets. 5. Retirement Plans: The Phoenix Arizona Long Term Incentive Program for Senior Management may also offer retirement benefits to ensure the financial well-being of senior management employees after their tenure with the organization. Retirement plans can include contributions to stock options, stock grants, or other investment vehicles, ensuring a secure and comfortable future for these executives. These various types of long-term incentives help the organizations in Phoenix, Arizona attract, motivate, and retain highly skilled and experienced senior management professionals. By offering a comprehensive and tailored long-term incentive program, companies can foster loyalty, drive performance, and create a culture of success for both the organization and its senior leadership team.

The Phoenix Arizona Long Term Incentive Program for Senior Management is a strategic and rewarding initiative aimed at attracting and retaining top-tier talent in senior leadership roles within organizations based in Phoenix, Arizona. This program offers long-term incentives and benefits to senior management employees, serving as a motivating factor for their continued dedication, loyalty, and performance. Key components of the Phoenix Arizona Long Term Incentive Program for Senior Management include equity-based compensation, performance-based bonuses, and retirement plans. These incentives are designed to align the interests of senior management with the long-term success and growth of the organization. By tying compensation to the achievement of strategic goals and overall company performance, this program encourages senior managers to create sustainable value, make sound decisions, and execute effective leadership strategies. There are various types of Long Term Incentive Programs that are available within the framework of this initiative to cater to the diverse needs and preferences of senior management employees. These programs can be categorized as follows: 1. Stock Options: Stock options provide senior management with the opportunity to purchase company stock at a predetermined price, known as the strike price, within a specific timeframe. This enables them to benefit from any potential increase in stock value, providing a long-term financial reward based on organizational growth and success. 2. Restricted Stock Units (RSS): RSS are grants of company stock that are subject to a vesting period. Senior managers receive RSS but cannot sell or transfer them until the vesting conditions are met (e.g., a specific number of years of service). Once vested, RSS convert into common shares, providing a tangible equity ownership stake in the company. 3. Performance Shares: Performance shares are awarded to senior management based on predetermined performance criteria, such as achieving specific financial targets, meeting operational goals, or driving shareholder value. These shares are granted contingent upon the fulfillment of performance conditions, tying compensation directly to the executive's ability to deliver results. 4. Cash Bonuses: Cash bonuses are another aspect of the long-term incentive program intended to reward senior managers for exceptional performance, meeting or exceeding goals, or accomplishing significant milestones. These bonuses may be paid out periodically or upon the achievement of specific targets. 5. Retirement Plans: The Phoenix Arizona Long Term Incentive Program for Senior Management may also offer retirement benefits to ensure the financial well-being of senior management employees after their tenure with the organization. Retirement plans can include contributions to stock options, stock grants, or other investment vehicles, ensuring a secure and comfortable future for these executives. These various types of long-term incentives help the organizations in Phoenix, Arizona attract, motivate, and retain highly skilled and experienced senior management professionals. By offering a comprehensive and tailored long-term incentive program, companies can foster loyalty, drive performance, and create a culture of success for both the organization and its senior leadership team.