Hennepin Minnesota Restricted Stock Plan of Guilford Mills, Inc.

• Category: Corporations - Public - Incentive Compensation Plans
• State: Multi-State
• County: Hennepin
• 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 Hennepin Minnesota Restricted Stock Plan is a unique employee compensation program offered by Guilford Mills, Inc., a highly recognized textile manufacturer headquartered in Minnesota. This plan is designed to provide eligible employees with the opportunity to acquire company stock, subject to certain restrictions and conditions. Under the Hennepin Minnesota Restricted Stock Plan, employees are granted a specific number of shares of Guilford Mills, Inc. stock, often at a discounted price. However, these shares are subject to various restrictions, which are put in place to ensure that the employees acquire and hold the company stock for a certain period of time. One variation of the Hennepin Minnesota Restricted Stock Plan is the Time-Based Restricted Stock Plan. This type of plan grants employees a certain number of shares, which become vested over a specific period. For example, an employee may be granted 1,000 shares of Guilford Mills, Inc. stock, but these shares will vest over a three-year period. This means that the employee will gain the ownership rights to a certain portion of the shares each year, providing an incentive for long-term commitment and loyalty to the company. Another type of the Hennepin Minnesota Restricted Stock Plan is the Performance-Based Restricted Stock Plan. In this plan, the number of shares granted to employees is contingent upon the achievement of specific performance goals or milestones. For instance, if Guilford Mills, Inc. reaches a certain level of annual revenue growth or meets certain profitability targets, employees may receive additional shares of company stock as a reward for their contribution to the company's success. It's important to note that each plan variation within the Hennepin Minnesota Restricted Stock Plan has its own set of rules, regulations, and vesting schedules. These details are communicated to the eligible employees through comprehensive documentation, allowing them to understand the requirements and potential benefits of participating in the program. Overall, the Hennepin Minnesota Restricted Stock Plan of Guilford Mills, Inc. serves as an effective tool to incentivize and reward employees for their dedication, performance, and commitment to the company's long-term success. By granting eligible employees the opportunity to acquire Guilford Mills, Inc. stock under specific restrictions, this plan encourages loyalty, aligns interests, and fosters a sense of ownership among the workforce.

The Hennepin Minnesota Restricted Stock Plan is a unique employee compensation program offered by Guilford Mills, Inc., a highly recognized textile manufacturer headquartered in Minnesota. This plan is designed to provide eligible employees with the opportunity to acquire company stock, subject to certain restrictions and conditions. Under the Hennepin Minnesota Restricted Stock Plan, employees are granted a specific number of shares of Guilford Mills, Inc. stock, often at a discounted price. However, these shares are subject to various restrictions, which are put in place to ensure that the employees acquire and hold the company stock for a certain period of time. One variation of the Hennepin Minnesota Restricted Stock Plan is the Time-Based Restricted Stock Plan. This type of plan grants employees a certain number of shares, which become vested over a specific period. For example, an employee may be granted 1,000 shares of Guilford Mills, Inc. stock, but these shares will vest over a three-year period. This means that the employee will gain the ownership rights to a certain portion of the shares each year, providing an incentive for long-term commitment and loyalty to the company. Another type of the Hennepin Minnesota Restricted Stock Plan is the Performance-Based Restricted Stock Plan. In this plan, the number of shares granted to employees is contingent upon the achievement of specific performance goals or milestones. For instance, if Guilford Mills, Inc. reaches a certain level of annual revenue growth or meets certain profitability targets, employees may receive additional shares of company stock as a reward for their contribution to the company's success. It's important to note that each plan variation within the Hennepin Minnesota Restricted Stock Plan has its own set of rules, regulations, and vesting schedules. These details are communicated to the eligible employees through comprehensive documentation, allowing them to understand the requirements and potential benefits of participating in the program. Overall, the Hennepin Minnesota Restricted Stock Plan of Guilford Mills, Inc. serves as an effective tool to incentivize and reward employees for their dedication, performance, and commitment to the company's long-term success. By granting eligible employees the opportunity to acquire Guilford Mills, Inc. stock under specific restrictions, this plan encourages loyalty, aligns interests, and fosters a sense of ownership among the workforce.