Sacramento California Long Term Incentive Program for Senior Management

• Category: Corporations - Public - Incentive Compensation Plans
• State: Multi-State
• County: Sacramento
• 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 Sacramento California Long Term Incentive Program for Senior Management is a comprehensive compensation plan designed to attract, retain, and motivate top-level executives in the public sector. This program provides long-term benefits and incentives to senior managers in order to encourage their strategic decision-making, loyalty, and commitment to enhancing the overall performance and success of the city and its departments. One type of Sacramento California Long Term Incentive Program for Senior Management is the Performance-Based Stock Option Plan. Under this plan, eligible senior managers are granted stock options based on their job performance and the achievement of predetermined goals and targets. These options provide an opportunity for managers to purchase company stocks at a set price within a specific time frame, thus aligning their interests with that of the organization's long-term success. Another type of program is the Restricted Stock Unit (RSU) Plan. This plan grants eligible senior managers a specified number of RSS, which are rights to receive company shares in the future. This RSS is typically subject to a vesting period, during which managers must remain with the organization to unlock the full benefit. This approach ensures stability and longevity in senior management roles, as it incentivizes managers to contribute to the long-term growth and profitability of the city. Furthermore, the Sacramento California Long Term Incentive Program for Senior Management may include a cash-based performance bonus plan. This plan rewards exceptional performance and achievement of key objectives by offering monetary bonuses to senior managers. These bonuses may be tied to individual, departmental, or organizational goals and are typically based on a predetermined formula or percentage of annual base salary. It's important to note that the specific details and components of the Sacramento California Long Term Incentive Program for Senior Management may vary, as it is tailored to meet the unique needs and requirements of the city and its departments. However, all variations of the program aim to align the interests of senior managers with the long-term success of Sacramento by offering attractive financial incentives that complement their base salary and other compensation packages.

The Sacramento California Long Term Incentive Program for Senior Management is a comprehensive compensation plan designed to attract, retain, and motivate top-level executives in the public sector. This program provides long-term benefits and incentives to senior managers in order to encourage their strategic decision-making, loyalty, and commitment to enhancing the overall performance and success of the city and its departments. One type of Sacramento California Long Term Incentive Program for Senior Management is the Performance-Based Stock Option Plan. Under this plan, eligible senior managers are granted stock options based on their job performance and the achievement of predetermined goals and targets. These options provide an opportunity for managers to purchase company stocks at a set price within a specific time frame, thus aligning their interests with that of the organization's long-term success. Another type of program is the Restricted Stock Unit (RSU) Plan. This plan grants eligible senior managers a specified number of RSS, which are rights to receive company shares in the future. This RSS is typically subject to a vesting period, during which managers must remain with the organization to unlock the full benefit. This approach ensures stability and longevity in senior management roles, as it incentivizes managers to contribute to the long-term growth and profitability of the city. Furthermore, the Sacramento California Long Term Incentive Program for Senior Management may include a cash-based performance bonus plan. This plan rewards exceptional performance and achievement of key objectives by offering monetary bonuses to senior managers. These bonuses may be tied to individual, departmental, or organizational goals and are typically based on a predetermined formula or percentage of annual base salary. It's important to note that the specific details and components of the Sacramento California Long Term Incentive Program for Senior Management may vary, as it is tailored to meet the unique needs and requirements of the city and its departments. However, all variations of the program aim to align the interests of senior managers with the long-term success of Sacramento by offering attractive financial incentives that complement their base salary and other compensation packages.