Houston Texas Restricted Stock Plan of Sundstrand Corp.

• Category: Corporations - Public - Incentive Compensation Plans
• State: Multi-State
• City: Houston
• 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 Houston Texas Restricted Stock Plan of Bandstand Corp. is an employee benefit program that grants eligible employees of Bandstand Corp. in Houston, Texas, the opportunity to acquire shares of the company's stock. The plan is designed to incentivize and retain talented employees by offering them a long-term financial stake in the company's success. Under the Houston Texas Restricted Stock Plan, employees are provided with restricted stock units (RSS) that represent a specific number of shares of Bandstand Corp.'s common stock. This RSS is subject to certain restrictions and vesting schedules, which may vary based on the employee's position, tenure, and performance. The plan offers employees an opportunity to become shareholders and participate in the potential growth and profitability of Bandstand Corp. The granted RSS typically have a vesting period, during which the stock units are considered "restricted" and not yet fully owned by the employee. Vesting periods can span over a period of several years, during which employees must continue their employment with the company to gradually gain ownership of the stock. Upon the completion of the vesting period, employees receive the full ownership of the vested RSS. At this point, employees can choose to either sell the shares and receive the monetary value or retain them as long-term investments, potentially benefiting from future stock price appreciation. The Houston Texas Restricted Stock Plan of Bandstand Corp. serves as a valuable tool for employee retention and motivation. By aligning employees' interests with the company's success, it encourages them to work towards achieving long-term goals and fosters a sense of loyalty and dedication. Different types of Houston Texas Restricted Stock Plans offered by Bandstand Corp. may include variations in vesting schedules, eligibility criteria, and the number of RSS provided. Some plans may also incorporate performance-based metrics, where the number of RSS granted can be influenced by individual or company-wide achievements. To summarize, the Houston Texas Restricted Stock Plan of Bandstand Corp. enables eligible employees in Houston, Texas, to acquire shares of the company's stock through the issuance of RSS. By offering employees a financial stake in the company's success, the plan aims to motivate and retain talented individuals while fostering a culture of loyalty and dedication within the organization.

Houston Texas Restricted Stock Plan of Bandstand Corp. is an employee benefit program that grants eligible employees of Bandstand Corp. in Houston, Texas, the opportunity to acquire shares of the company's stock. The plan is designed to incentivize and retain talented employees by offering them a long-term financial stake in the company's success. Under the Houston Texas Restricted Stock Plan, employees are provided with restricted stock units (RSS) that represent a specific number of shares of Bandstand Corp.'s common stock. This RSS is subject to certain restrictions and vesting schedules, which may vary based on the employee's position, tenure, and performance. The plan offers employees an opportunity to become shareholders and participate in the potential growth and profitability of Bandstand Corp. The granted RSS typically have a vesting period, during which the stock units are considered "restricted" and not yet fully owned by the employee. Vesting periods can span over a period of several years, during which employees must continue their employment with the company to gradually gain ownership of the stock. Upon the completion of the vesting period, employees receive the full ownership of the vested RSS. At this point, employees can choose to either sell the shares and receive the monetary value or retain them as long-term investments, potentially benefiting from future stock price appreciation. The Houston Texas Restricted Stock Plan of Bandstand Corp. serves as a valuable tool for employee retention and motivation. By aligning employees' interests with the company's success, it encourages them to work towards achieving long-term goals and fosters a sense of loyalty and dedication. Different types of Houston Texas Restricted Stock Plans offered by Bandstand Corp. may include variations in vesting schedules, eligibility criteria, and the number of RSS provided. Some plans may also incorporate performance-based metrics, where the number of RSS granted can be influenced by individual or company-wide achievements. To summarize, the Houston Texas Restricted Stock Plan of Bandstand Corp. enables eligible employees in Houston, Texas, to acquire shares of the company's stock through the issuance of RSS. By offering employees a financial stake in the company's success, the plan aims to motivate and retain talented individuals while fostering a culture of loyalty and dedication within the organization.