San Bernardino California Long Term Incentive Program for Senior Management

• Category: Corporations - Public - Incentive Compensation Plans
• State: Multi-State
• County: San Bernardino
• 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 San Bernardino California Long Term Incentive Program for Senior Management is a comprehensive program designed to attract and retain top talent in the senior management positions within the city of San Bernardino. With a focus on long-term goals and performance-based rewards, this program is aimed at enhancing the overall success and growth of the city. One type of San Bernardino California Long Term Incentive Program for Senior Management is the Performance Share Unit (PSU) plan. Under this plan, senior managers are granted a specific number of performance shares based on predetermined performance indicators and goals. These performance shares are typically subject to a vesting period, which encourages managers to remain with the city and work towards achieving long-term objectives. Another type of long-term incentive program available for senior management is the Stock Option plan. San Bernardino offers senior managers the opportunity to purchase company stock at a predetermined price, usually lower than the current market value. This gives managers a sense of ownership in the organization and aligns their interests with the long-term success of the city. San Bernardino California Long Term Incentive Program for Senior Management also includes a Deferred Compensation program. This program allows senior managers to defer a portion of their salary and invest it in tax-deferred accounts, such as a 401(k) or a 457 retirement plan. By participating in this program, managers can enhance their retirement savings while enjoying potential tax benefits. Furthermore, the city of San Bernardino recognizes the importance of employee wellness and work-life balance. As part of the Long Term Incentive Program, senior managers may have access to benefits such as flexible working arrangements, wellness programs, and professional development opportunities. These additional perks aim to create a positive work environment and foster employee engagement and satisfaction. In conclusion, the San Bernardino California Long Term Incentive Program for Senior Management is a comprehensive package designed to attract and retain talented senior managers. With various types of incentives, including Performance Share Units, Stock Options, Deferred Compensation, and additional benefits, this program aims to enhance the overall success and growth of the city while rewarding the valuable contributions of senior managers.

The San Bernardino California Long Term Incentive Program for Senior Management is a comprehensive program designed to attract and retain top talent in the senior management positions within the city of San Bernardino. With a focus on long-term goals and performance-based rewards, this program is aimed at enhancing the overall success and growth of the city. One type of San Bernardino California Long Term Incentive Program for Senior Management is the Performance Share Unit (PSU) plan. Under this plan, senior managers are granted a specific number of performance shares based on predetermined performance indicators and goals. These performance shares are typically subject to a vesting period, which encourages managers to remain with the city and work towards achieving long-term objectives. Another type of long-term incentive program available for senior management is the Stock Option plan. San Bernardino offers senior managers the opportunity to purchase company stock at a predetermined price, usually lower than the current market value. This gives managers a sense of ownership in the organization and aligns their interests with the long-term success of the city. San Bernardino California Long Term Incentive Program for Senior Management also includes a Deferred Compensation program. This program allows senior managers to defer a portion of their salary and invest it in tax-deferred accounts, such as a 401(k) or a 457 retirement plan. By participating in this program, managers can enhance their retirement savings while enjoying potential tax benefits. Furthermore, the city of San Bernardino recognizes the importance of employee wellness and work-life balance. As part of the Long Term Incentive Program, senior managers may have access to benefits such as flexible working arrangements, wellness programs, and professional development opportunities. These additional perks aim to create a positive work environment and foster employee engagement and satisfaction. In conclusion, the San Bernardino California Long Term Incentive Program for Senior Management is a comprehensive package designed to attract and retain talented senior managers. With various types of incentives, including Performance Share Units, Stock Options, Deferred Compensation, and additional benefits, this program aims to enhance the overall success and growth of the city while rewarding the valuable contributions of senior managers.