Franklin Ohio Restricted Stock Plan of Guilford Mills, Inc.

• Category: Corporations - Public - Incentive Compensation Plans
• State: Multi-State
• County: Franklin
• Control #: US-CC-20-170A
• Format: Word; Rich Text

Description

20-170A 20-170A . . . Restricted Stock Plan under which Compensation Committee grants awards of shares of common stock in accordance with terms and conditions set forth in agreement between corporation and participant. Each Stock Agreement contains such individual and corporate performance goals, restrictions, terms and conditions as Compensation Committee may require including price, if any, which participant shall be required to pay for shares The Franklin Ohio Restricted Stock Plan is a specific type of employee benefit program offered by Guilford Mills, Inc., a well-established textile company based in Franklin, Ohio. This plan focuses on providing restricted stock grants to eligible employees as a means of incentivizing and retaining key talent within the organization. Below, we will delve into the details of the Franklin Ohio Restricted Stock Plan of Guilford Mills, Inc. Restricted Stock: The primary feature of this plan is the issuance of restricted stock to eligible employees. Unlike regular stocks, restricted stock grants come with specific conditions or restrictions on the shares, which must be met before full ownership rights are granted. These restrictions can include a vesting period, performance goals, or continued employment with the company. Employee Incentive: The Franklin Ohio Restricted Stock Plan serves as a powerful tool for Guilford Mills, Inc. to motivate and reward its employees for their contribution to the company's success. By granting eligible employees restricted stock, the company demonstrates its commitment to fostering long-term employee engagement and loyalty. Retention Strategy: With the presence of restricted stock grants, the plan serves as a valuable retention strategy for Guilford Mills, Inc. The program aims to retain top talent by ensuring that employees have a vested interest (both literally and figuratively) in the company's long-term performance. This creates a sense of ownership and fosters a deeper level of commitment among employees. Vesting Periods: Within the Franklin Ohio Restricted Stock Plan, there may be different vesting periods associated with the granted shares. For example, the company may structure the plan in a way that employees become eligible for ownership of a certain percentage of the restricted stock each year over a specified period, commonly known as a vesting schedule. This gradual vesting allows for employee retention and alignment with the company's long-term goals. Performance-based Goals: Additionally, the Franklin Ohio Restricted Stock Plan may incorporate performance-based goals for employees to meet for full ownership of the granted shares. These goals can be tied to individual, team, or company-wide achievements and serve as performance incentives to drive the growth and success of Guilford Mills, Inc. Franklin Ohio Restricted Stock Plan Variations: It is essential to note that the specific details and variations of the Franklin Ohio Restricted Stock Plan may differ from those mentioned above, as it is primarily defined by Guilford Mills, Inc. The varying terms and conditions associated with the plan ensure that it aligns with the company's unique objectives, culture, and legal obligations. In conclusion, the Franklin Ohio Restricted Stock Plan of Guilford Mills, Inc. is a strategic employee benefit program that offers restricted stock grants to eligible employees. It encourages employee loyalty, serves as a retention tool, and aligns employees with the company's long-term success.

The Franklin Ohio Restricted Stock Plan is a specific type of employee benefit program offered by Guilford Mills, Inc., a well-established textile company based in Franklin, Ohio. This plan focuses on providing restricted stock grants to eligible employees as a means of incentivizing and retaining key talent within the organization. Below, we will delve into the details of the Franklin Ohio Restricted Stock Plan of Guilford Mills, Inc. Restricted Stock: The primary feature of this plan is the issuance of restricted stock to eligible employees. Unlike regular stocks, restricted stock grants come with specific conditions or restrictions on the shares, which must be met before full ownership rights are granted. These restrictions can include a vesting period, performance goals, or continued employment with the company. Employee Incentive: The Franklin Ohio Restricted Stock Plan serves as a powerful tool for Guilford Mills, Inc. to motivate and reward its employees for their contribution to the company's success. By granting eligible employees restricted stock, the company demonstrates its commitment to fostering long-term employee engagement and loyalty. Retention Strategy: With the presence of restricted stock grants, the plan serves as a valuable retention strategy for Guilford Mills, Inc. The program aims to retain top talent by ensuring that employees have a vested interest (both literally and figuratively) in the company's long-term performance. This creates a sense of ownership and fosters a deeper level of commitment among employees. Vesting Periods: Within the Franklin Ohio Restricted Stock Plan, there may be different vesting periods associated with the granted shares. For example, the company may structure the plan in a way that employees become eligible for ownership of a certain percentage of the restricted stock each year over a specified period, commonly known as a vesting schedule. This gradual vesting allows for employee retention and alignment with the company's long-term goals. Performance-based Goals: Additionally, the Franklin Ohio Restricted Stock Plan may incorporate performance-based goals for employees to meet for full ownership of the granted shares. These goals can be tied to individual, team, or company-wide achievements and serve as performance incentives to drive the growth and success of Guilford Mills, Inc. Franklin Ohio Restricted Stock Plan Variations: It is essential to note that the specific details and variations of the Franklin Ohio Restricted Stock Plan may differ from those mentioned above, as it is primarily defined by Guilford Mills, Inc. The varying terms and conditions associated with the plan ensure that it aligns with the company's unique objectives, culture, and legal obligations. In conclusion, the Franklin Ohio Restricted Stock Plan of Guilford Mills, Inc. is a strategic employee benefit program that offers restricted stock grants to eligible employees. It encourages employee loyalty, serves as a retention tool, and aligns employees with the company's long-term success.