Santa Clara California Long Term Incentive Program for Senior Management

• Category: Corporations - Public - Incentive Compensation Plans
• State: Multi-State
• County: Santa Clara
• 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 Santa Clara California Long Term Incentive Program for Senior Management is a comprehensive incentivization initiative designed to reward and retain top-level executives in the city. This program offers a variety of attractive benefits and incentives to senior management professionals who excel in their roles, providing an opportunity for long-term growth and financial stability. The program encompasses several types of long-term incentives, each aimed at meeting the diverse needs of senior management personnel. Some key types of Santa Clara California Long Term Incentive Programs for Senior Management include: 1. Stock Options: As part of the program, senior management executives may be eligible to receive stock options, granting them the right to purchase company shares at a specified price within a predetermined timeframe. This provides an incentive for executives to contribute to the company's success, as their financial gain is directly tied to the organization's performance. 2. Restricted Stock Units (RSS): Another form of incentive, RSS grant senior management professionals a specific number of company shares that vest over a defined period. This ensures that executives have a stake in the organization's long-term performance, encouraging commitment and loyalty. 3. Performance-Based Bonuses: The program may offer performance-based bonuses tied to key performance indicators (KPIs) and predetermined objectives. These bonuses serve as a means to reward exemplary performance, motivating senior management to achieve exceptional results. 4. Cash-based Incentives: In addition to stock-based incentives, the Santa Clara California program may feature cash-based incentives such as annual cash bonuses or profit-sharing plans. These financial rewards recognize the value senior management adds to the organization's overall success and create a sense of shared prosperity. 5. Pension and Retirement Plans: As part of the long-term focus of the program, Santa Clara California may provide comprehensive pension and retirement plans for senior management executives. These plans ensure financial security for executives during their retirement years, contributing to employee satisfaction and loyalty. Overall, the Santa Clara California Long Term Incentive Program for Senior Management acts as a powerful tool to attract and retain top talent by offering a combination of stock options, restricted stock units, performance-based bonuses, cash incentives, and comprehensive retirement plans. These incentives aim to foster a culture of excellence, dedication, and long-term commitment among senior management professionals in Santa Clara, California.

The Santa Clara California Long Term Incentive Program for Senior Management is a comprehensive incentivization initiative designed to reward and retain top-level executives in the city. This program offers a variety of attractive benefits and incentives to senior management professionals who excel in their roles, providing an opportunity for long-term growth and financial stability. The program encompasses several types of long-term incentives, each aimed at meeting the diverse needs of senior management personnel. Some key types of Santa Clara California Long Term Incentive Programs for Senior Management include: 1. Stock Options: As part of the program, senior management executives may be eligible to receive stock options, granting them the right to purchase company shares at a specified price within a predetermined timeframe. This provides an incentive for executives to contribute to the company's success, as their financial gain is directly tied to the organization's performance. 2. Restricted Stock Units (RSS): Another form of incentive, RSS grant senior management professionals a specific number of company shares that vest over a defined period. This ensures that executives have a stake in the organization's long-term performance, encouraging commitment and loyalty. 3. Performance-Based Bonuses: The program may offer performance-based bonuses tied to key performance indicators (KPIs) and predetermined objectives. These bonuses serve as a means to reward exemplary performance, motivating senior management to achieve exceptional results. 4. Cash-based Incentives: In addition to stock-based incentives, the Santa Clara California program may feature cash-based incentives such as annual cash bonuses or profit-sharing plans. These financial rewards recognize the value senior management adds to the organization's overall success and create a sense of shared prosperity. 5. Pension and Retirement Plans: As part of the long-term focus of the program, Santa Clara California may provide comprehensive pension and retirement plans for senior management executives. These plans ensure financial security for executives during their retirement years, contributing to employee satisfaction and loyalty. Overall, the Santa Clara California Long Term Incentive Program for Senior Management acts as a powerful tool to attract and retain top talent by offering a combination of stock options, restricted stock units, performance-based bonuses, cash incentives, and comprehensive retirement plans. These incentives aim to foster a culture of excellence, dedication, and long-term commitment among senior management professionals in Santa Clara, California.