Bexar Texas Restricted Stock Plan of Sundstrand Corp.

• Category: Corporations - Public - Incentive Compensation Plans
• State: Multi-State
• County: Bexar
• Control #: US-CC-20-171D
• Format: Word; Rich Text

Description

20-171D 20-171D . . . Restricted Stock Plan under which a committee of Board of Directors sells shares of common stock to certain officers and senior employees at a price substantially below current market price. The shares are subject to following restrictions: (a) prohibition against any sale or other transfer and (b) obligation that participant (at corporation's option) must resell shares to corporation at price he paid for them if he ceases to be employed by corporation prior to expiration of from five to nine years after shares were sold to him, for reasons other than normal retirement, death, total disability or early retirement with consent of Board or committee. Except as otherwise provided, restrictions lapse as to 1/5 of aggregate number of participant's shares at expiration or each of fifth through ninth years after his purchase of such shares The Bexar Texas Restricted Stock Plan is a comprehensive employee benefit program offered by Bandstand Corp., a renowned corporation operating in the aerospace and industrial sectors. It provides eligible employees with the opportunity to acquire company shares, commonly known as restricted stocks, at a discounted price. This plan is designed to motivate and reward employees for their dedication, contributions, and loyalty to the company. The Bexar Texas Restricted Stock Plan grants employees the right to purchase restricted stock units (RSS) based on their performance and tenure at Bandstand Corp. This RSS is typically subject to a vesting period, during which employees cannot sell or transfer their shares. The vesting period is established to encourage long-term commitment and alignment with the company's objectives. The Bexar Texas Restricted Stock Plan offers different types of restricted stocks, including: 1. Performance-Based Restricted Stock: This type of stock is granted to employees based on achieving specific performance targets set by the company. Once these targets are met, the shares become fully vested and employees gain unrestricted ownership rights. 2. Time-Based Restricted Stock: With this type of stock, employees become eligible to receive shares after a certain period of employment, typically through a graded vesting schedule. For example, employees may be granted 25% of the shares initially and receive an additional percentage each year until they become fully vested. 3. Restricted Stock Units: This plan may also include the allocation of restricted stock units. Instead of granting actual company shares, RSS represent the right to receive a specific number of shares in the future. RSS are typically subject to the same vesting requirements as other restricted stocks. The Bexar Texas Restricted Stock Plan of Bandstand Corp. not only provides employees with an opportunity for financial growth but also promotes a sense of ownership and commitment towards the company's success. It aligns the interests of employees with those of shareholders, fostering a culture of teamwork, dedication, and excellence. To participate in this plan, employees must meet certain eligibility requirements established by Bandstand Corp. These requirements may include minimum employment duration, job performance criteria, and other factors determined by the company. Overall, the Bexar Texas Restricted Stock Plan of Bandstand Corp. is a valuable employee benefit program that drives motivation, engagement, and dedication among its workforce. It serves as an excellent tool for attracting and retaining talented employees while aligning their interests with the company's long-term growth objectives.

The Bexar Texas Restricted Stock Plan is a comprehensive employee benefit program offered by Bandstand Corp., a renowned corporation operating in the aerospace and industrial sectors. It provides eligible employees with the opportunity to acquire company shares, commonly known as restricted stocks, at a discounted price. This plan is designed to motivate and reward employees for their dedication, contributions, and loyalty to the company. The Bexar Texas Restricted Stock Plan grants employees the right to purchase restricted stock units (RSS) based on their performance and tenure at Bandstand Corp. This RSS is typically subject to a vesting period, during which employees cannot sell or transfer their shares. The vesting period is established to encourage long-term commitment and alignment with the company's objectives. The Bexar Texas Restricted Stock Plan offers different types of restricted stocks, including: 1. Performance-Based Restricted Stock: This type of stock is granted to employees based on achieving specific performance targets set by the company. Once these targets are met, the shares become fully vested and employees gain unrestricted ownership rights. 2. Time-Based Restricted Stock: With this type of stock, employees become eligible to receive shares after a certain period of employment, typically through a graded vesting schedule. For example, employees may be granted 25% of the shares initially and receive an additional percentage each year until they become fully vested. 3. Restricted Stock Units: This plan may also include the allocation of restricted stock units. Instead of granting actual company shares, RSS represent the right to receive a specific number of shares in the future. RSS are typically subject to the same vesting requirements as other restricted stocks. The Bexar Texas Restricted Stock Plan of Bandstand Corp. not only provides employees with an opportunity for financial growth but also promotes a sense of ownership and commitment towards the company's success. It aligns the interests of employees with those of shareholders, fostering a culture of teamwork, dedication, and excellence. To participate in this plan, employees must meet certain eligibility requirements established by Bandstand Corp. These requirements may include minimum employment duration, job performance criteria, and other factors determined by the company. Overall, the Bexar Texas Restricted Stock Plan of Bandstand Corp. is a valuable employee benefit program that drives motivation, engagement, and dedication among its workforce. It serves as an excellent tool for attracting and retaining talented employees while aligning their interests with the company's long-term growth objectives.