Travis Texas Restricted Stock Plan of Guilford Mills, Inc.

• Category: Corporations - Public - Incentive Compensation Plans
• State: Multi-State
• County: Travis
• 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 Travis Texas Restricted Stock Plan is a comprehensive employee benefit program offered by Guilford Mills, Inc., a leading textile manufacturing company based in Travis Texas. This plan aims to incentivize and reward employees by providing them with ownership stakes in the company through restricted stock grants. By offering this program, Guilford Mills, Inc. aims to align the interests of its workforce with those of the company, fostering loyalty, dedication, and commitment. Under the Travis Texas Restricted Stock Plan, Guilford Mills, Inc. grants employees restricted stock units (RSS) as a form of compensation. RSS represent company shares that are subject to certain conditions or restrictions. These conditions often include a vesting period, during which employees must remain with the company to earn the full value of the RSS. Once the vesting period is completed, employees are entitled to the shares or cash equivalent, depending on the company's policy. The Travis Texas Restricted Stock Plan offers various categories tailored to meet specific employee needs and objectives. These categories include: 1. Executive Restricted Stock Plan: This category is specifically designed for high-level executives within Guilford Mills, Inc. These executives are granted a significant number of RSS to provide substantial long-term incentives and align their interests with long-term company goals. 2. Employee Restricted Stock Plan: This plan targets all regular employees of Guilford Mills, Inc. and covers a wide range of positions within the company. Employees are granted RSS based on their performance, level of service, and job responsibilities. 3. Performance-Based Restricted Stock Plan: This category focuses on rewarding employees based on their performance metrics and achievements. Guilford Mills, Inc. sets specific performance criteria, such as sales targets, profitability goals, or operational milestones, to determine the number of RSS granted to eligible employees. 4. Management-Level Restricted Stock Plan: This plan is designed for mid-level managers and supervisors within the company. It aims to motivate and retain key management personnel by providing them with additional incentives through RSS. The Travis Texas Restricted Stock Plan of Guilford Mills, Inc. serves as a valuable tool in attracting, retaining, and motivating employees. It encourages a sense of ownership and commitment among staff members, ultimately promoting the company's growth and success. By utilizing this program, Guilford Mills, Inc. underscores its dedication to its employees' well-being and recognizes their contributions as essential to the organization's overall prosperity.

Travis Texas Restricted Stock Plan is a comprehensive employee benefit program offered by Guilford Mills, Inc., a leading textile manufacturing company based in Travis Texas. This plan aims to incentivize and reward employees by providing them with ownership stakes in the company through restricted stock grants. By offering this program, Guilford Mills, Inc. aims to align the interests of its workforce with those of the company, fostering loyalty, dedication, and commitment. Under the Travis Texas Restricted Stock Plan, Guilford Mills, Inc. grants employees restricted stock units (RSS) as a form of compensation. RSS represent company shares that are subject to certain conditions or restrictions. These conditions often include a vesting period, during which employees must remain with the company to earn the full value of the RSS. Once the vesting period is completed, employees are entitled to the shares or cash equivalent, depending on the company's policy. The Travis Texas Restricted Stock Plan offers various categories tailored to meet specific employee needs and objectives. These categories include: 1. Executive Restricted Stock Plan: This category is specifically designed for high-level executives within Guilford Mills, Inc. These executives are granted a significant number of RSS to provide substantial long-term incentives and align their interests with long-term company goals. 2. Employee Restricted Stock Plan: This plan targets all regular employees of Guilford Mills, Inc. and covers a wide range of positions within the company. Employees are granted RSS based on their performance, level of service, and job responsibilities. 3. Performance-Based Restricted Stock Plan: This category focuses on rewarding employees based on their performance metrics and achievements. Guilford Mills, Inc. sets specific performance criteria, such as sales targets, profitability goals, or operational milestones, to determine the number of RSS granted to eligible employees. 4. Management-Level Restricted Stock Plan: This plan is designed for mid-level managers and supervisors within the company. It aims to motivate and retain key management personnel by providing them with additional incentives through RSS. The Travis Texas Restricted Stock Plan of Guilford Mills, Inc. serves as a valuable tool in attracting, retaining, and motivating employees. It encourages a sense of ownership and commitment among staff members, ultimately promoting the company's growth and success. By utilizing this program, Guilford Mills, Inc. underscores its dedication to its employees' well-being and recognizes their contributions as essential to the organization's overall prosperity.