King Washington Restricted Stock Plan of Sundstrand Corp.

• Category: Corporations - Public - Incentive Compensation Plans
• State: Multi-State
• County: King
• 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 King Washington Restricted Stock Plan is a comprehensive employee benefit program offered by Bandstand Corp., a prominent corporation in Washington. This plan aims to reward and incentivize company employees by providing them with restricted stock units (RSS) as a form of compensation. RSS are company shares that are granted to employees, subject to certain restrictions and conditions. Under the King Washington Restricted Stock Plan, employees are granted a specific number of RSS, which represent an ownership stake in Bandstand Corp. This RSS is typically subject to a vesting period, during which employees must remain with the company to fully access the granted shares. Once vested, employees have the opportunity to sell, retain, or transfer the shares based on their preferences and future business decisions. The King Washington Restricted Stock Plan primarily aims to align the interests of employees with the long-term success of Bandstand Corp. By offering RSS, the company incentivizes employees to contribute their best efforts, increase their productivity, and actively participate in the growth and success of the organization. The plan may have different types or variations based on the specific terms and conditions implemented by Bandstand Corp. Some possible variations of the King Washington Restricted Stock Plan include: 1. Performance-based RSS: In this variation, the number of RSS granted to employees is linked to predefined performance goals or targets. Employees must achieve these targets to unlock or fully vest the RSS. 2. Time-based RSS: This type of RSU grant vests over a specific period of time, with a percentage of the granted RSS becoming accessible to the employee at predetermined intervals. For example, an employee may be granted 1,000 RSS, with 25% vesting after one year, and the remaining RSS vesting in subsequent years. 3. Dividend-equivalent RSS: This variation allows employees to receive dividends or dividend equivalents on their RSS, even before the RSS fully vest. Dividend equivalents are payments made by the company to mimic the cash dividends paid to shareholders. 4. Restricted Stock Unit options: This type of King Washington Restricted Stock Plan offers employees the flexibility to choose between receiving RSS or stock options. Stock options grant employees the right to purchase company shares at a predetermined price, allowing them to potentially benefit from any future increase in stock value. It is important for employees to carefully review the terms, vesting schedules, and tax implications of the King Washington Restricted Stock Plan before making any decisions. Consulting with a financial advisor or legal professional may be beneficial in understanding the complete details and potential benefits associated with the plan.

The King Washington Restricted Stock Plan is a comprehensive employee benefit program offered by Bandstand Corp., a prominent corporation in Washington. This plan aims to reward and incentivize company employees by providing them with restricted stock units (RSS) as a form of compensation. RSS are company shares that are granted to employees, subject to certain restrictions and conditions. Under the King Washington Restricted Stock Plan, employees are granted a specific number of RSS, which represent an ownership stake in Bandstand Corp. This RSS is typically subject to a vesting period, during which employees must remain with the company to fully access the granted shares. Once vested, employees have the opportunity to sell, retain, or transfer the shares based on their preferences and future business decisions. The King Washington Restricted Stock Plan primarily aims to align the interests of employees with the long-term success of Bandstand Corp. By offering RSS, the company incentivizes employees to contribute their best efforts, increase their productivity, and actively participate in the growth and success of the organization. The plan may have different types or variations based on the specific terms and conditions implemented by Bandstand Corp. Some possible variations of the King Washington Restricted Stock Plan include: 1. Performance-based RSS: In this variation, the number of RSS granted to employees is linked to predefined performance goals or targets. Employees must achieve these targets to unlock or fully vest the RSS. 2. Time-based RSS: This type of RSU grant vests over a specific period of time, with a percentage of the granted RSS becoming accessible to the employee at predetermined intervals. For example, an employee may be granted 1,000 RSS, with 25% vesting after one year, and the remaining RSS vesting in subsequent years. 3. Dividend-equivalent RSS: This variation allows employees to receive dividends or dividend equivalents on their RSS, even before the RSS fully vest. Dividend equivalents are payments made by the company to mimic the cash dividends paid to shareholders. 4. Restricted Stock Unit options: This type of King Washington Restricted Stock Plan offers employees the flexibility to choose between receiving RSS or stock options. Stock options grant employees the right to purchase company shares at a predetermined price, allowing them to potentially benefit from any future increase in stock value. It is important for employees to carefully review the terms, vesting schedules, and tax implications of the King Washington Restricted Stock Plan before making any decisions. Consulting with a financial advisor or legal professional may be beneficial in understanding the complete details and potential benefits associated with the plan.