Suffolk New York Long Term Incentive Program for Senior Management

• Category: Corporations - Public - Incentive Compensation Plans
• State: Multi-State
• County: Suffolk
• 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 Suffolk New York Long Term Incentive Program for Senior Management is a comprehensive reward system designed to attract, motivate, and retain highly skilled senior managers within the county. By providing long-term incentives, the program aims to align the interests of senior management with the overall objectives of Suffolk New York, fostering a culture of excellence and sustainable growth. Keywords: Suffolk New York, Long Term Incentive Program, Senior Management, reward system, attract, motivate, retain, highly skilled, county, interests, objectives, culture, excellence, sustainable growth. Types of Suffolk New York Long Term Incentive Programs for Senior Management: 1. Performance-Based Stock Options: This type of incentive program grants senior managers the opportunity to acquire company stocks at a predetermined price over a specified period. The stock options are typically awarded based on performance goals, ensuring alignment with the company's success and shareholder value. 2. Restricted Stock Units (RSS): RSS are a popular form of long-term incentive compensation where senior managers are provided with a specific number of shares that vest over time. These units offer a stake in the company, promoting loyalty and sustained performance as senior managers work towards achieving predetermined milestones. 3. Cash Bonus Plans: The Suffolk New York Long Term Incentive Program for Senior Management may also incorporate cash bonus plans. These plans offer senior managers the opportunity to earn additional compensation with long-term performance metrics in mind. Such bonuses can be tied to key performance indicators (KPIs) that reflect individual, team, or company-wide achievements. 4. Retention Bonuses: In order to retain top talent, the Suffolk New York Long Term Incentive Program may include retention bonuses. These bonuses provide monetary rewards to senior managers who stay with the company for an extended period, encouraging loyalty and commitment to long-term success. 5. Equity-Based Performance Plans: This type of incentive program combines elements of stock grants, stock options, and performance metrics. Senior managers receive equity grants or options, but their value is tied to specific performance targets, such as revenue growth, cost reduction, or market share expansion. This aligns executive interests with the company's strategic goals, ensuring a focus on long-term value creation. Overall, the Suffolk New York Long Term Incentive Program for Senior Management is designed to attract, engage, and retain talented executives by offering a variety of performance-based incentives, equity participation, bonuses, and retention rewards. These programs foster a sense of shared success and encourage senior managers to make strategic decisions that drive the long-term growth and prosperity of Suffolk New York.

The Suffolk New York Long Term Incentive Program for Senior Management is a comprehensive reward system designed to attract, motivate, and retain highly skilled senior managers within the county. By providing long-term incentives, the program aims to align the interests of senior management with the overall objectives of Suffolk New York, fostering a culture of excellence and sustainable growth. Keywords: Suffolk New York, Long Term Incentive Program, Senior Management, reward system, attract, motivate, retain, highly skilled, county, interests, objectives, culture, excellence, sustainable growth. Types of Suffolk New York Long Term Incentive Programs for Senior Management: 1. Performance-Based Stock Options: This type of incentive program grants senior managers the opportunity to acquire company stocks at a predetermined price over a specified period. The stock options are typically awarded based on performance goals, ensuring alignment with the company's success and shareholder value. 2. Restricted Stock Units (RSS): RSS are a popular form of long-term incentive compensation where senior managers are provided with a specific number of shares that vest over time. These units offer a stake in the company, promoting loyalty and sustained performance as senior managers work towards achieving predetermined milestones. 3. Cash Bonus Plans: The Suffolk New York Long Term Incentive Program for Senior Management may also incorporate cash bonus plans. These plans offer senior managers the opportunity to earn additional compensation with long-term performance metrics in mind. Such bonuses can be tied to key performance indicators (KPIs) that reflect individual, team, or company-wide achievements. 4. Retention Bonuses: In order to retain top talent, the Suffolk New York Long Term Incentive Program may include retention bonuses. These bonuses provide monetary rewards to senior managers who stay with the company for an extended period, encouraging loyalty and commitment to long-term success. 5. Equity-Based Performance Plans: This type of incentive program combines elements of stock grants, stock options, and performance metrics. Senior managers receive equity grants or options, but their value is tied to specific performance targets, such as revenue growth, cost reduction, or market share expansion. This aligns executive interests with the company's strategic goals, ensuring a focus on long-term value creation. Overall, the Suffolk New York Long Term Incentive Program for Senior Management is designed to attract, engage, and retain talented executives by offering a variety of performance-based incentives, equity participation, bonuses, and retention rewards. These programs foster a sense of shared success and encourage senior managers to make strategic decisions that drive the long-term growth and prosperity of Suffolk New York.