Wayne Michigan Restricted Stock Plan of Guilford Mills, Inc.

• Category: Corporations - Public - Incentive Compensation Plans
• State: Multi-State
• County: Wayne
• 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 Wayne Michigan Restricted Stock Plan offered by Guilford Mills, Inc. is a comprehensive employee benefit program designed to incentivize and reward its workforce. Under this plan, eligible employees are granted restricted stock units (RSS) as a form of compensation. This RSS represents company shares that are restricted for a specified period, commonly referred to as the vesting period. The Wayne Michigan Restricted Stock Plan includes various types of awards and provisions to meet diverse employee needs and objectives. One of the main types is the Performance-Based Restricted Stock Units (Versus). Versus are granted to employees based on the achievement of predetermined performance goals set by the company. This encourages employees to strive for superior performance and aligns their efforts with the organization's growth. Another type of restricted stock award is the Time-Based Restricted Stock Units (Tarsus). Tarsus are granted to employees based on their tenure or time of service with Guilford Mills, Inc. Over time, these units vest and convert into company shares, providing an additional motivation for employees to stay with the organization and contribute to its long-term success. The Wayne Michigan Restricted Stock Plan also includes provisions for stock grants to non-employee directors, such as the Non-Employee Director Stock Option Plans. These plans offer eligible non-employee directors the opportunity to receive stock options instead of restricted stock units, providing an alternative way to align their interests with the company. Additionally, the Wayne Michigan Restricted Stock Plan of Guilford Mills, Inc. allows for the purchase of shares through an employee stock purchase plan (ESPN). The ESPN permits eligible employees to buy the company's stock at a discounted price, usually through payroll deductions. This encourages employees to become shareholders and fosters a sense of ownership and loyalty. Overall, the Wayne Michigan Restricted Stock Plan of Guilford Mills, Inc. is a comprehensive program that offers various types of restricted stock awards to employees, including Performance-Based Restricted Stock Units, Time-Based Restricted Stock Units, stock option plans for non-employee directors, and an employee stock purchase plan. These programs aim to motivate employees, align their interests with the company's growth, and foster a sense of ownership within the organization.

The Wayne Michigan Restricted Stock Plan offered by Guilford Mills, Inc. is a comprehensive employee benefit program designed to incentivize and reward its workforce. Under this plan, eligible employees are granted restricted stock units (RSS) as a form of compensation. This RSS represents company shares that are restricted for a specified period, commonly referred to as the vesting period. The Wayne Michigan Restricted Stock Plan includes various types of awards and provisions to meet diverse employee needs and objectives. One of the main types is the Performance-Based Restricted Stock Units (Versus). Versus are granted to employees based on the achievement of predetermined performance goals set by the company. This encourages employees to strive for superior performance and aligns their efforts with the organization's growth. Another type of restricted stock award is the Time-Based Restricted Stock Units (Tarsus). Tarsus are granted to employees based on their tenure or time of service with Guilford Mills, Inc. Over time, these units vest and convert into company shares, providing an additional motivation for employees to stay with the organization and contribute to its long-term success. The Wayne Michigan Restricted Stock Plan also includes provisions for stock grants to non-employee directors, such as the Non-Employee Director Stock Option Plans. These plans offer eligible non-employee directors the opportunity to receive stock options instead of restricted stock units, providing an alternative way to align their interests with the company. Additionally, the Wayne Michigan Restricted Stock Plan of Guilford Mills, Inc. allows for the purchase of shares through an employee stock purchase plan (ESPN). The ESPN permits eligible employees to buy the company's stock at a discounted price, usually through payroll deductions. This encourages employees to become shareholders and fosters a sense of ownership and loyalty. Overall, the Wayne Michigan Restricted Stock Plan of Guilford Mills, Inc. is a comprehensive program that offers various types of restricted stock awards to employees, including Performance-Based Restricted Stock Units, Time-Based Restricted Stock Units, stock option plans for non-employee directors, and an employee stock purchase plan. These programs aim to motivate employees, align their interests with the company's growth, and foster a sense of ownership within the organization.