Broward Florida Restricted Stock Plan of Sundstrand Corp.

• Category: Corporations - Public - Incentive Compensation Plans
• State: Multi-State
• County: Broward
• 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 Broward Florida Restricted Stock Plan of Bandstand Corp. is a specialized compensation program offered by Bandstand Corp., a prominent company operating in Broward County, Florida. This plan is designed to incentivize and reward employees by granting them restricted stock units (RSS) as a part of their compensation package. It ensures that eligible employees have the opportunity to acquire company stock while complying with certain restrictions and guidelines. The Broward Florida Restricted Stock Plan allows employees to receive a specified number of RSS, which represent a promise to receive a determined number of shares of Bandstand Corp.'s stock at a future date. However, participants are subject to certain restrictions and conditions before they can fully access these shares. There are several variants or types of the Broward Florida Restricted Stock Plan, each with its own set of conditions. Some common types may include: 1. Restricted Stock Unit Plan: Under this plan, eligible employees are granted RSS that vest over a designated period, typically subject to the employee's continued service with the company. Vesting refers to the gradual release of the stock units to the employee, usually in predetermined increments. 2. Performance-Based Restricted Stock Plan: This type of plan rewards employees based on certain performance criteria, such as meeting specific revenue targets or achieving predetermined objectives. The RSS granted will vest only if the employee successfully meets the performance goals set by the company. 3. Time-Based Restricted Stock Plan: In this variant, RSS are granted to employees subject to a predetermined vesting schedule based solely on their length of service or employment tenure. The employee must remain with the company for a certain period to access the shares. 4. Accelerated Vesting Restricted Stock Plan: This plan may come into effect during specific circumstances such as a change in control, merger, or acquisition of Bandstand Corp. In such situations, the vesting of RSS may accelerate, providing employees with quicker access to the stock units. It's important to note that the exact details and conditions of the Broward Florida Restricted Stock Plan of Bandstand Corp. may vary over time and be subject to specific rules and regulations set by both the company and relevant governmental entities. Participants in the plan should refer to the official plan documents and consult with their employers or legal advisors for accurate and up-to-date information.

Broward Florida Restricted Stock Plan of Bandstand Corp. is a specialized compensation program offered by Bandstand Corp., a prominent company operating in Broward County, Florida. This plan is designed to incentivize and reward employees by granting them restricted stock units (RSS) as a part of their compensation package. It ensures that eligible employees have the opportunity to acquire company stock while complying with certain restrictions and guidelines. The Broward Florida Restricted Stock Plan allows employees to receive a specified number of RSS, which represent a promise to receive a determined number of shares of Bandstand Corp.'s stock at a future date. However, participants are subject to certain restrictions and conditions before they can fully access these shares. There are several variants or types of the Broward Florida Restricted Stock Plan, each with its own set of conditions. Some common types may include: 1. Restricted Stock Unit Plan: Under this plan, eligible employees are granted RSS that vest over a designated period, typically subject to the employee's continued service with the company. Vesting refers to the gradual release of the stock units to the employee, usually in predetermined increments. 2. Performance-Based Restricted Stock Plan: This type of plan rewards employees based on certain performance criteria, such as meeting specific revenue targets or achieving predetermined objectives. The RSS granted will vest only if the employee successfully meets the performance goals set by the company. 3. Time-Based Restricted Stock Plan: In this variant, RSS are granted to employees subject to a predetermined vesting schedule based solely on their length of service or employment tenure. The employee must remain with the company for a certain period to access the shares. 4. Accelerated Vesting Restricted Stock Plan: This plan may come into effect during specific circumstances such as a change in control, merger, or acquisition of Bandstand Corp. In such situations, the vesting of RSS may accelerate, providing employees with quicker access to the stock units. It's important to note that the exact details and conditions of the Broward Florida Restricted Stock Plan of Bandstand Corp. may vary over time and be subject to specific rules and regulations set by both the company and relevant governmental entities. Participants in the plan should refer to the official plan documents and consult with their employers or legal advisors for accurate and up-to-date information.