Collin Texas Restricted Stock Plan of Sundstrand Corp.

• Category: Corporations - Public - Incentive Compensation Plans
• State: Multi-State
• County: Collin
• 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 Collin Texas Restricted Stock Plan of Bandstand Corp. is a comprehensive and incentive-based program designed to reward and provide long-term benefits to eligible employees of Bandstand Corp. operating in Collin, Texas. Under this plan, qualified employees are granted restricted stock units (RSS) as a form of compensation. This RSS represents an ownership interest in the company, and their value is tied to the performance and success of Bandstand Corp. With the goal of aligning the interests of employees and shareholders, the Collin Texas Restricted Stock Plan serves as an essential tool for attracting, retaining, and motivating talented individuals within the organization. Through the issuance of RSS, eligible employees gain the opportunity to share in the growth and profitability of Bandstand Corp., ultimately fostering a culture of ownership and dedication. The RSS granted under the Collin Texas Restricted Stock Plan are subject to certain restrictions, such as a predetermined vesting period. This period typically ranges from one to five years, during which employees must remain employed by Bandstand Corp. to receive full ownership of the granted stock units. The vesting schedule ensures a continued commitment and engagement from employees, as they have a vested interest in the long-term success of the company. Upon the completion of the vesting period, restricted stock units convert into freely tradable shares, allowing employees to reap the financial benefits of their ownership stake in Bandstand Corp. These shares can be sold or held, providing employees with the flexibility to decide the most suitable course of action based on their individual financial goals. The Collin Texas Restricted Stock Plan of Bandstand Corp. aims to offer a variety of benefits to employees, including potential capital gains, dividends, and voting rights. By directly linking employee compensation to the company's performance, this plan fosters a sense of shared success and encourages employees to take an active role in contributing to the growth and profitability of Bandstand Corp. It is important to note that while the Collin Texas Restricted Stock Plan is a general framework provided here, exact details and variations of this plan may exist based on the specific needs and goals of Bandstand Corp. and its employees in Collin, Texas. It is recommended to refer to the official plan documents or consult the HR department for more detailed information about the specific types and intricacies of the Collin Texas Restricted Stock Plan offered by Bandstand Corp.

The Collin Texas Restricted Stock Plan of Bandstand Corp. is a comprehensive and incentive-based program designed to reward and provide long-term benefits to eligible employees of Bandstand Corp. operating in Collin, Texas. Under this plan, qualified employees are granted restricted stock units (RSS) as a form of compensation. This RSS represents an ownership interest in the company, and their value is tied to the performance and success of Bandstand Corp. With the goal of aligning the interests of employees and shareholders, the Collin Texas Restricted Stock Plan serves as an essential tool for attracting, retaining, and motivating talented individuals within the organization. Through the issuance of RSS, eligible employees gain the opportunity to share in the growth and profitability of Bandstand Corp., ultimately fostering a culture of ownership and dedication. The RSS granted under the Collin Texas Restricted Stock Plan are subject to certain restrictions, such as a predetermined vesting period. This period typically ranges from one to five years, during which employees must remain employed by Bandstand Corp. to receive full ownership of the granted stock units. The vesting schedule ensures a continued commitment and engagement from employees, as they have a vested interest in the long-term success of the company. Upon the completion of the vesting period, restricted stock units convert into freely tradable shares, allowing employees to reap the financial benefits of their ownership stake in Bandstand Corp. These shares can be sold or held, providing employees with the flexibility to decide the most suitable course of action based on their individual financial goals. The Collin Texas Restricted Stock Plan of Bandstand Corp. aims to offer a variety of benefits to employees, including potential capital gains, dividends, and voting rights. By directly linking employee compensation to the company's performance, this plan fosters a sense of shared success and encourages employees to take an active role in contributing to the growth and profitability of Bandstand Corp. It is important to note that while the Collin Texas Restricted Stock Plan is a general framework provided here, exact details and variations of this plan may exist based on the specific needs and goals of Bandstand Corp. and its employees in Collin, Texas. It is recommended to refer to the official plan documents or consult the HR department for more detailed information about the specific types and intricacies of the Collin Texas Restricted Stock Plan offered by Bandstand Corp.