Bronx New York Restricted Stock Plan of Sundstrand Corp.

• Category: Corporations - Public - Incentive Compensation Plans
• State: Multi-State
• County: Bronx
• 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 Bronx New York Restricted Stock Plan offered by Bandstand Corp. is an employee benefit program designed to incentivize and reward employees for their dedicated service and contributions to the company. This plan provides eligible employees with an opportunity to acquire company stocks at a discounted price, encouraging them to invest in the company's future growth and success. Bandstand Corp., a renowned aerospace and industrial company headquartered in the Bronx, New York, offers different types of restricted stock plans to suit the diverse needs and requirements of its employees. Let's explore some of these plans: 1. Performance-Based Restricted Stock Plan: This type of plan links the vesting and availability of stocks to specific performance goals and criteria established by the company. By achieving these objectives, employees become eligible for receiving and owning the restricted stocks granted under this plan. 2. Time-Vesting Restricted Stock Plan: This plan grants employees restricted stocks that vest over a certain period of time. Employees are required to remain with the company for a specified period to gain complete ownership of the granted shares. The longer an employee stays with Bandstand Corp., the more stocks they are entitled to, motivating long-term commitment and loyalty. 3. Performance and Time-Based Restricted Stock Plan: This hybrid plan combines performance criteria and employment tenure for restricted stock vesting. Employees need to meet both performance targets and specific time-based requirements to receive full ownership of granted stocks. This plan aims to incentivize the achievement of company goals while also recognizing continuous service to the organization. 4. Executive-Level Restricted Stock Plan: Bandstand Corp. may also offer a specialized restricted stock plan exclusively for executives and key management personnel. This plan is tailored to attract and retain top talent by granting higher-value restricted stocks and incorporating additional performance metrics and vesting conditions personalized for leadership roles. It is important to note that the specifics of each restricted stock plan, such as eligibility criteria, grant amounts, vesting periods, and stock pricing, may vary based on individual employee agreements and the company's objectives. Bandstand Corp. ensures transparency and fairness in implementing its restricted stock plans, giving all eligible employees an opportunity to participate in the company's growth and ultimately share in its success.

The Bronx New York Restricted Stock Plan offered by Bandstand Corp. is an employee benefit program designed to incentivize and reward employees for their dedicated service and contributions to the company. This plan provides eligible employees with an opportunity to acquire company stocks at a discounted price, encouraging them to invest in the company's future growth and success. Bandstand Corp., a renowned aerospace and industrial company headquartered in the Bronx, New York, offers different types of restricted stock plans to suit the diverse needs and requirements of its employees. Let's explore some of these plans: 1. Performance-Based Restricted Stock Plan: This type of plan links the vesting and availability of stocks to specific performance goals and criteria established by the company. By achieving these objectives, employees become eligible for receiving and owning the restricted stocks granted under this plan. 2. Time-Vesting Restricted Stock Plan: This plan grants employees restricted stocks that vest over a certain period of time. Employees are required to remain with the company for a specified period to gain complete ownership of the granted shares. The longer an employee stays with Bandstand Corp., the more stocks they are entitled to, motivating long-term commitment and loyalty. 3. Performance and Time-Based Restricted Stock Plan: This hybrid plan combines performance criteria and employment tenure for restricted stock vesting. Employees need to meet both performance targets and specific time-based requirements to receive full ownership of granted stocks. This plan aims to incentivize the achievement of company goals while also recognizing continuous service to the organization. 4. Executive-Level Restricted Stock Plan: Bandstand Corp. may also offer a specialized restricted stock plan exclusively for executives and key management personnel. This plan is tailored to attract and retain top talent by granting higher-value restricted stocks and incorporating additional performance metrics and vesting conditions personalized for leadership roles. It is important to note that the specifics of each restricted stock plan, such as eligibility criteria, grant amounts, vesting periods, and stock pricing, may vary based on individual employee agreements and the company's objectives. Bandstand Corp. ensures transparency and fairness in implementing its restricted stock plans, giving all eligible employees an opportunity to participate in the company's growth and ultimately share in its success.