Pima Arizona Long Term Incentive Program for Senior Management

• Category: Corporations - Public - Incentive Compensation Plans
• State: Multi-State
• County: Pima
• 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 Lima Arizona Long Term Incentive Program for Senior Management is a comprehensive compensation plan designed to incentivize and reward long-term performance and dedication among senior executives in the Lima Arizona organization. This program aims to attract and retain top talent by providing attractive benefits that align with the company's strategic objectives, driving growth and shareholder value. The Lima Arizona Long Term Incentive Program for Senior Management offers various types of incentives depending on leadership responsibilities and performance metrics. These incentives include: 1. Equity-based Awards: This component grants senior executives with opportunities to acquire ownership interests in the company, typically in the form of stock options, restricted stock units, or performance shares. These awards usually vest over an extended period, encouraging executives to stay committed to the organization's long-term success. 2. Performance Bonuses: Apart from salary and annual bonuses, senior executives may be eligible for performance-based bonuses linked to predetermined goals and metrics. These bonuses are generally tied to financial performance, operational targets, and strategic initiatives aligned with the company's growth and profitability goals. 3. Deferred Compensation Plans: Lima Arizona may offer senior executives the option to defer a portion of their annual compensation into a deferred compensation plan. These plans typically allow executives to defer a portion of their salary, cash bonuses, or equity awards, with amounts usually paid out in the future based on predetermined terms and conditions. 4. Long-Term Cash Incentives: In addition to equity-based awards, senior executives may be eligible for long-term cash incentives. These cash-based awards are commonly tied to performance criteria established by the company over a specific period, such as revenue growth, cost savings, or market share expansion. 5. Non-financial Rewards: While monetary incentives play a significant role in the program, Lima Arizona also recognizes the importance of non-financial rewards. These can include opportunities for career advancement, professional development programs, and increased decision-making authority, empowering senior executives to make a meaningful impact on the organization's overall success. The Lima Arizona Long Term Incentive Program for Senior Management is carefully designed to ensure it is competitive and aligned with industry standards and best practices. It aims to motivate senior executives to drive long-term value creation, foster a commitment to organizational goals, and enhance overall performance and productivity. By attracting and retaining top talent, Lima Arizona can maintain a strong leadership team that can steer the organization towards sustained success in a highly competitive marketplace.

Lima Arizona Long Term Incentive Program for Senior Management is a comprehensive compensation plan designed to incentivize and reward long-term performance and dedication among senior executives in the Lima Arizona organization. This program aims to attract and retain top talent by providing attractive benefits that align with the company's strategic objectives, driving growth and shareholder value. The Lima Arizona Long Term Incentive Program for Senior Management offers various types of incentives depending on leadership responsibilities and performance metrics. These incentives include: 1. Equity-based Awards: This component grants senior executives with opportunities to acquire ownership interests in the company, typically in the form of stock options, restricted stock units, or performance shares. These awards usually vest over an extended period, encouraging executives to stay committed to the organization's long-term success. 2. Performance Bonuses: Apart from salary and annual bonuses, senior executives may be eligible for performance-based bonuses linked to predetermined goals and metrics. These bonuses are generally tied to financial performance, operational targets, and strategic initiatives aligned with the company's growth and profitability goals. 3. Deferred Compensation Plans: Lima Arizona may offer senior executives the option to defer a portion of their annual compensation into a deferred compensation plan. These plans typically allow executives to defer a portion of their salary, cash bonuses, or equity awards, with amounts usually paid out in the future based on predetermined terms and conditions. 4. Long-Term Cash Incentives: In addition to equity-based awards, senior executives may be eligible for long-term cash incentives. These cash-based awards are commonly tied to performance criteria established by the company over a specific period, such as revenue growth, cost savings, or market share expansion. 5. Non-financial Rewards: While monetary incentives play a significant role in the program, Lima Arizona also recognizes the importance of non-financial rewards. These can include opportunities for career advancement, professional development programs, and increased decision-making authority, empowering senior executives to make a meaningful impact on the organization's overall success. The Lima Arizona Long Term Incentive Program for Senior Management is carefully designed to ensure it is competitive and aligned with industry standards and best practices. It aims to motivate senior executives to drive long-term value creation, foster a commitment to organizational goals, and enhance overall performance and productivity. By attracting and retaining top talent, Lima Arizona can maintain a strong leadership team that can steer the organization towards sustained success in a highly competitive marketplace.