Travis Texas Long Term Incentive Program for Senior Management

• Category: Corporations - Public - Incentive Compensation Plans
• State: Multi-State
• County: Travis
• 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 Travis Texas Long Term Incentive Program for Senior Management is a comprehensive, performance-based compensation initiative designed to reward and retain top-tier executives in the organization. This program offers various types of incentives that align with the company's long-term goals, ensuring senior management remains motivated and committed to driving the company's success. One type of Travis Texas Long Term Incentive Program for Senior Management is the stock option plan. Under this plan, eligible executives are granted the right to purchase company stock at a predetermined price, known as the exercise price, for a specified period. This incentive encourages executives to work towards increasing the company's stock value, as they directly benefit from its success. Another type of incentive offered in the program is the restricted stock unit (RSU) grant. RSS are company shares granted to senior management that vest over a specific period, typically contingent upon achieving certain performance criteria. By offering RSS, the program ensures that executives are incentivized to work towards long-term growth and performance goals, as the value of the granted shares depends on the company's overall success. Travis Texas Long Term Incentive Program for Senior Management also includes a cash-based performance bonus plan. This plan rewards executives with additional compensation based on predefined performance targets, such as revenue growth, profitability, or market share. The bonus amount is typically calculated as a percentage of the executive's base salary, providing a direct financial incentive for achieving or surpassing these targets. Furthermore, the program may include a phantom stock plan, which is a synthetic equity arrangement. Under this plan, senior managers receive hypothetical units of stock that mirror the company's actual stock value. These units are subject to vesting and are typically settled in cash upon attainment of specific performance goals or upon a predetermined triggering event. Importantly, Travis Texas Long Term Incentive Program for Senior Management aims to ensure executive retention and loyalty by incorporating substantial clawback provisions and stringent performance criteria. This encourages senior management to stay committed to enhancing the company's long-term value while mitigating excessive risk-taking. Overall, the Travis Texas Long Term Incentive Program for Senior Management comprises a range of innovative compensation strategies that recognize and reward executives for their contributions in driving the organization's success. By combining different incentive types, the program aligns the interests of senior managers with the company's long-term objectives, fostering a culture of dedication and achievement.

Travis Texas Long Term Incentive Program for Senior Management is a comprehensive, performance-based compensation initiative designed to reward and retain top-tier executives in the organization. This program offers various types of incentives that align with the company's long-term goals, ensuring senior management remains motivated and committed to driving the company's success. One type of Travis Texas Long Term Incentive Program for Senior Management is the stock option plan. Under this plan, eligible executives are granted the right to purchase company stock at a predetermined price, known as the exercise price, for a specified period. This incentive encourages executives to work towards increasing the company's stock value, as they directly benefit from its success. Another type of incentive offered in the program is the restricted stock unit (RSU) grant. RSS are company shares granted to senior management that vest over a specific period, typically contingent upon achieving certain performance criteria. By offering RSS, the program ensures that executives are incentivized to work towards long-term growth and performance goals, as the value of the granted shares depends on the company's overall success. Travis Texas Long Term Incentive Program for Senior Management also includes a cash-based performance bonus plan. This plan rewards executives with additional compensation based on predefined performance targets, such as revenue growth, profitability, or market share. The bonus amount is typically calculated as a percentage of the executive's base salary, providing a direct financial incentive for achieving or surpassing these targets. Furthermore, the program may include a phantom stock plan, which is a synthetic equity arrangement. Under this plan, senior managers receive hypothetical units of stock that mirror the company's actual stock value. These units are subject to vesting and are typically settled in cash upon attainment of specific performance goals or upon a predetermined triggering event. Importantly, Travis Texas Long Term Incentive Program for Senior Management aims to ensure executive retention and loyalty by incorporating substantial clawback provisions and stringent performance criteria. This encourages senior management to stay committed to enhancing the company's long-term value while mitigating excessive risk-taking. Overall, the Travis Texas Long Term Incentive Program for Senior Management comprises a range of innovative compensation strategies that recognize and reward executives for their contributions in driving the organization's success. By combining different incentive types, the program aligns the interests of senior managers with the company's long-term objectives, fostering a culture of dedication and achievement.