Los Angeles California Restricted Stock Plan of Sundstrand Corp.

• Category: Corporations - Public - Incentive Compensation Plans
• State: Multi-State
• County: Los Angeles
• 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 Los Angeles California Restricted Stock Plan of Bandstand Corp. is a comprehensive equity-based compensation program that provides eligible employees with an opportunity to acquire and own company stocks. It is specifically designed for employees based in Los Angeles, California, who work for Bandstand Corp., a prominent company operating in various industries. The plan aims to incentivize and reward employees for their dedication, loyalty, and contribution to the company's growth and success. Under the Los Angeles California Restricted Stock Plan of Bandstand Corp., eligible employees are granted restricted stock units (RSS) as a part of their overall compensation package. This RSS represents an ownership interest in the company and are restricted in terms of their transferability until specific vesting conditions are met. This encourages employees to stay with the company for a certain period, aligning their interests with the long-term success of Bandstand Corp. The Los Angeles California Restricted Stock Plan includes various key features and benefits. Firstly, it offers employees the opportunity to share in the company's performance and financial success. As the stock value increases over time, employees can potentially realize gains when they sell their vested shares. This feature aligns the interests of employees with the shareholders, fostering a sense of ownership and dedication to enhancing the company's performance. Additionally, the plan provides a tax advantage for eligible employees. The RSS are subject to specific tax treatment, which can be beneficial for employees in terms of reducing their overall tax liability. This feature contributes to the attractiveness and value of participating in the plan. The Los Angeles California Restricted Stock Plan also incorporates a vesting schedule, which outlines the timeline and conditions for employees to become fully vested in their awarded RSS. Vesting periods can vary depending on the specific terms of the plan, job roles, and employee seniority. Once the vesting requirements are met, employees gain full ownership of their RSS and can exercise their right to sell or retain the shares. It is important to note that Bandstand Corp. may have designed different types or variations of the Los Angeles California Restricted Stock Plan to accommodate specific employee categories or job levels. These variations may include plans tailored for executives, upper management, or specific departments. These specialized plans may have additional features such as accelerated vesting schedules, performance-based criteria, or other unique provisions. Overall, the Los Angeles California Restricted Stock Plan of Bandstand Corp. is a robust and attractive equity compensation program for eligible employees based in Los Angeles, California. It serves as an effective tool to attract and retain top talent, motivate employees, and align their interests with the long-term success of Bandstand Corp.

The Los Angeles California Restricted Stock Plan of Bandstand Corp. is a comprehensive equity-based compensation program that provides eligible employees with an opportunity to acquire and own company stocks. It is specifically designed for employees based in Los Angeles, California, who work for Bandstand Corp., a prominent company operating in various industries. The plan aims to incentivize and reward employees for their dedication, loyalty, and contribution to the company's growth and success. Under the Los Angeles California Restricted Stock Plan of Bandstand Corp., eligible employees are granted restricted stock units (RSS) as a part of their overall compensation package. This RSS represents an ownership interest in the company and are restricted in terms of their transferability until specific vesting conditions are met. This encourages employees to stay with the company for a certain period, aligning their interests with the long-term success of Bandstand Corp. The Los Angeles California Restricted Stock Plan includes various key features and benefits. Firstly, it offers employees the opportunity to share in the company's performance and financial success. As the stock value increases over time, employees can potentially realize gains when they sell their vested shares. This feature aligns the interests of employees with the shareholders, fostering a sense of ownership and dedication to enhancing the company's performance. Additionally, the plan provides a tax advantage for eligible employees. The RSS are subject to specific tax treatment, which can be beneficial for employees in terms of reducing their overall tax liability. This feature contributes to the attractiveness and value of participating in the plan. The Los Angeles California Restricted Stock Plan also incorporates a vesting schedule, which outlines the timeline and conditions for employees to become fully vested in their awarded RSS. Vesting periods can vary depending on the specific terms of the plan, job roles, and employee seniority. Once the vesting requirements are met, employees gain full ownership of their RSS and can exercise their right to sell or retain the shares. It is important to note that Bandstand Corp. may have designed different types or variations of the Los Angeles California Restricted Stock Plan to accommodate specific employee categories or job levels. These variations may include plans tailored for executives, upper management, or specific departments. These specialized plans may have additional features such as accelerated vesting schedules, performance-based criteria, or other unique provisions. Overall, the Los Angeles California Restricted Stock Plan of Bandstand Corp. is a robust and attractive equity compensation program for eligible employees based in Los Angeles, California. It serves as an effective tool to attract and retain top talent, motivate employees, and align their interests with the long-term success of Bandstand Corp.