Harris Texas Restricted Stock Plan of Guilford Mills, Inc.

• Category: Corporations - Public - Incentive Compensation Plans
• State: Multi-State
• County: Harris
• 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 Harris Texas Restricted Stock Plan of Guilford Mills, Inc. is a corporate benefit program designed to provide eligible employees of Guilford Mills, Inc. with an opportunity to receive company stocks as a form of compensation. This plan aims to incentivize and reward key employees for their contributions and align their interests with the company's long-term growth. Under the Harris Texas Restricted Stock Plan, Guilford Mills, Inc. grants restricted stock units (RSS) to eligible participants. RSS is a type of equity-based compensation that represents a promise to deliver company stocks at a future date, subject to certain vesting conditions. This RSS typically become fully vested over a specific period, encouraging employees to stay with the company and share in its success. Employees who participate in the Harris Texas Restricted Stock Plan are typically selected based on their job position, level of responsibility, and performance. This plan is often offered to key executives, managers, and other critical employees who have a significant impact on the company's overall performance and strategic goals. The Harris Texas Restricted Stock Plan offers several advantages to eligible employees. Firstly, it provides them with the opportunity to become shareholders of the company they work for, allowing them to benefit financially from its success. Secondly, it incentivizes employees to remain with the company for a longer period, as the RSS typically vest over a multi-year period. Additionally, the Harris Texas Restricted Stock Plan may include certain performance-based conditions that need to be met for the RSS to become fully vested. These conditions could be related to the company's performance, individual performance goals, or achieving specific milestones. It is important to note that the specifics of the Harris Texas Restricted Stock Plan may vary based on individual agreements and the company's policies. Eligible employees should carefully review the plan documents and consult with their human resources or benefits department for comprehensive details regarding their participation, vesting schedules, and potential tax implications. In summary, the Harris Texas Restricted Stock Plan of Guilford Mills, Inc. is a valuable compensation program that grants eligible employees restricted stock units (RSS) as a form of long-term incentive and reward. It aligns the interests of employees with the company's success, encourages employee retention, and helps foster a culture of ownership and commitment within the organization.

The Harris Texas Restricted Stock Plan of Guilford Mills, Inc. is a corporate benefit program designed to provide eligible employees of Guilford Mills, Inc. with an opportunity to receive company stocks as a form of compensation. This plan aims to incentivize and reward key employees for their contributions and align their interests with the company's long-term growth. Under the Harris Texas Restricted Stock Plan, Guilford Mills, Inc. grants restricted stock units (RSS) to eligible participants. RSS is a type of equity-based compensation that represents a promise to deliver company stocks at a future date, subject to certain vesting conditions. This RSS typically become fully vested over a specific period, encouraging employees to stay with the company and share in its success. Employees who participate in the Harris Texas Restricted Stock Plan are typically selected based on their job position, level of responsibility, and performance. This plan is often offered to key executives, managers, and other critical employees who have a significant impact on the company's overall performance and strategic goals. The Harris Texas Restricted Stock Plan offers several advantages to eligible employees. Firstly, it provides them with the opportunity to become shareholders of the company they work for, allowing them to benefit financially from its success. Secondly, it incentivizes employees to remain with the company for a longer period, as the RSS typically vest over a multi-year period. Additionally, the Harris Texas Restricted Stock Plan may include certain performance-based conditions that need to be met for the RSS to become fully vested. These conditions could be related to the company's performance, individual performance goals, or achieving specific milestones. It is important to note that the specifics of the Harris Texas Restricted Stock Plan may vary based on individual agreements and the company's policies. Eligible employees should carefully review the plan documents and consult with their human resources or benefits department for comprehensive details regarding their participation, vesting schedules, and potential tax implications. In summary, the Harris Texas Restricted Stock Plan of Guilford Mills, Inc. is a valuable compensation program that grants eligible employees restricted stock units (RSS) as a form of long-term incentive and reward. It aligns the interests of employees with the company's success, encourages employee retention, and helps foster a culture of ownership and commitment within the organization.