Wake North Carolina Restricted Stock Plan of Guilford Mills, Inc.

• Category: Corporations - Public - Incentive Compensation Plans
• State: Multi-State
• County: Wake
• 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 Wake North Carolina Restricted Stock Plan of Guilford Mills, Inc. is an essential corporate benefit offered to employees by Guilford Mills, a prominent textile manufacturing company based in Wake County, North Carolina. This stock plan provides employees with the opportunity to acquire company shares, serving as a long-term incentive to promote loyalty, retention, and productivity. Under the Wake North Carolina Restricted Stock Plan, eligible employees are granted restricted stock units (RSS) as part of their compensation package. RSS is a form of compensation denoting the promise of future company shares, subject to certain vesting requirements. Guilford Mills employs various types of RSU plans to cater to the diverse needs of its workforce. 1. Standard RSU Plan: This is the primary stock plan offered by Guilford Mills. Employees who meet the specific criteria set by the company are eligible to receive RSS. This RSS typically vest over a defined period, encouraging individuals to remain with the company and contribute to its long-term growth and success. 2. Performance-Based RSU Plan: In addition to the standard RSU plan, Guilford Mills may offer a performance-based RSU plan. This type of plan requires employees to fulfill predetermined performance targets, such as meeting revenue goals or achieving top quality ratings. Meeting or exceeding these targets results in the vesting of RSS, providing employees additional motivation to excel in their roles. 3. Option to Buy RSS: Guilford Mills may also offer employees the option to purchase RSS at a predetermined price. This variation of the stock plan allows individuals to acquire additional company shares beyond what they are granted as part of their compensation. The Wake North Carolina Restricted Stock Plan of Guilford Mills, Inc. emphasizes the company's commitment to rewarding and retaining its employees. By offering RSS as a benefit, Guilford Mills aligns the interests of its workforce with the overall success of the company. This stock plan serves as a valuable tool in attracting and retaining top talent, fostering a productive and motivated workforce, and driving the company's long-term growth strategy.

The Wake North Carolina Restricted Stock Plan of Guilford Mills, Inc. is an essential corporate benefit offered to employees by Guilford Mills, a prominent textile manufacturing company based in Wake County, North Carolina. This stock plan provides employees with the opportunity to acquire company shares, serving as a long-term incentive to promote loyalty, retention, and productivity. Under the Wake North Carolina Restricted Stock Plan, eligible employees are granted restricted stock units (RSS) as part of their compensation package. RSS is a form of compensation denoting the promise of future company shares, subject to certain vesting requirements. Guilford Mills employs various types of RSU plans to cater to the diverse needs of its workforce. 1. Standard RSU Plan: This is the primary stock plan offered by Guilford Mills. Employees who meet the specific criteria set by the company are eligible to receive RSS. This RSS typically vest over a defined period, encouraging individuals to remain with the company and contribute to its long-term growth and success. 2. Performance-Based RSU Plan: In addition to the standard RSU plan, Guilford Mills may offer a performance-based RSU plan. This type of plan requires employees to fulfill predetermined performance targets, such as meeting revenue goals or achieving top quality ratings. Meeting or exceeding these targets results in the vesting of RSS, providing employees additional motivation to excel in their roles. 3. Option to Buy RSS: Guilford Mills may also offer employees the option to purchase RSS at a predetermined price. This variation of the stock plan allows individuals to acquire additional company shares beyond what they are granted as part of their compensation. The Wake North Carolina Restricted Stock Plan of Guilford Mills, Inc. emphasizes the company's commitment to rewarding and retaining its employees. By offering RSS as a benefit, Guilford Mills aligns the interests of its workforce with the overall success of the company. This stock plan serves as a valuable tool in attracting and retaining top talent, fostering a productive and motivated workforce, and driving the company's long-term growth strategy.