Maricopa Arizona Restricted Stock Plan of Sundstrand Corp.

• Category: Corporations - Public - Incentive Compensation Plans
• State: Multi-State
• County: Maricopa
• 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 Maricopa Arizona Restricted Stock Plan of Bandstand Corp. is an employee compensation program that offers eligible employees the opportunity to acquire company stock, subject to certain restrictions and conditions. This plan is designed to incentivize employees, align their interests with the long-term success of the company, and promote employee retention. Under this plan, eligible employees are granted restricted stock units (RSS) as part of their compensation package. RSS represents a promise to deliver a certain number of shares of company stock at a future date, usually after a vesting period. The vesting period is an important component of the plan, as it determines when employees gain ownership rights to the granted RSS. One key aspect of the Maricopa Arizona Restricted Stock Plan is the restriction on the transferability of the RSS. Typically, employees cannot sell, transfer, or pledge their RSS until they have vested. This restriction ensures that employees remain committed to the company's success, as they must wait until they have fulfilled the vesting requirements before realizing the full benefits of the RSS. Another notable feature of this plan is the eligibility criteria. Different types of employees may have different eligibility requirements to participate in the Maricopa Arizona Restricted Stock Plan. For instance, the plan may be available only to certain levels of employees, such as executives or managers, while excluding lower-ranking employees. The specific eligibility criteria can vary depending on the organization's policies and objectives. Additionally, the Maricopa Arizona Restricted Stock Plan may include provisions for accelerated vesting. In certain circumstances, such as a change of control, merger, acquisition, or the death or disability of the participant, the vesting restrictions on RSS may be relaxed or waived, allowing employees to receive the stock earlier than originally scheduled. These provisions are intended to provide flexibility while ensuring employee incentives and overall program effectiveness. Overall, the Maricopa Arizona Restricted Stock Plan of Bandstand Corp. is an effective tool for attracting and retaining talented employees. By offering the opportunity to acquire company stock, this plan motivates employees to work towards the company's success and fosters a sense of ownership and loyalty. By incorporating vesting periods and transfer restrictions, the plan reinforces the long-term commitment of employees and aligns their interests with the growth and profitability of the organization.

The Maricopa Arizona Restricted Stock Plan of Bandstand Corp. is an employee compensation program that offers eligible employees the opportunity to acquire company stock, subject to certain restrictions and conditions. This plan is designed to incentivize employees, align their interests with the long-term success of the company, and promote employee retention. Under this plan, eligible employees are granted restricted stock units (RSS) as part of their compensation package. RSS represents a promise to deliver a certain number of shares of company stock at a future date, usually after a vesting period. The vesting period is an important component of the plan, as it determines when employees gain ownership rights to the granted RSS. One key aspect of the Maricopa Arizona Restricted Stock Plan is the restriction on the transferability of the RSS. Typically, employees cannot sell, transfer, or pledge their RSS until they have vested. This restriction ensures that employees remain committed to the company's success, as they must wait until they have fulfilled the vesting requirements before realizing the full benefits of the RSS. Another notable feature of this plan is the eligibility criteria. Different types of employees may have different eligibility requirements to participate in the Maricopa Arizona Restricted Stock Plan. For instance, the plan may be available only to certain levels of employees, such as executives or managers, while excluding lower-ranking employees. The specific eligibility criteria can vary depending on the organization's policies and objectives. Additionally, the Maricopa Arizona Restricted Stock Plan may include provisions for accelerated vesting. In certain circumstances, such as a change of control, merger, acquisition, or the death or disability of the participant, the vesting restrictions on RSS may be relaxed or waived, allowing employees to receive the stock earlier than originally scheduled. These provisions are intended to provide flexibility while ensuring employee incentives and overall program effectiveness. Overall, the Maricopa Arizona Restricted Stock Plan of Bandstand Corp. is an effective tool for attracting and retaining talented employees. By offering the opportunity to acquire company stock, this plan motivates employees to work towards the company's success and fosters a sense of ownership and loyalty. By incorporating vesting periods and transfer restrictions, the plan reinforces the long-term commitment of employees and aligns their interests with the growth and profitability of the organization.