Oakland Michigan Restricted Stock Plan of Sundstrand Corp.

• Category: Corporations - Public - Incentive Compensation Plans
• State: Multi-State
• County: Oakland
• 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 Oakland Michigan Restricted Stock Plan of Bandstand Corp is a comprehensive employee incentive program that provides eligible employees with an opportunity to acquire company stock at a discounted price or as part of their compensation package. The plan is designed to reward employees for their hard work and commitment to the company's success. Under this program, eligible employees are granted restricted stock units (RSS) as part of their compensation. RSS represents a promise to deliver company stock to the employee after a certain vesting period. During the vesting period, the employee does not have full ownership rights to the RSS and cannot sell or transfer them. However, once the vesting period is completed, the RSS convert into actual company stock that is fully owned by the employee. The Oakland Michigan Restricted Stock Plan offers different types of RSS, including time-based RSS and performance-based RSS. Time-based RSS vest over a specific period of time, usually ranging from one to five years. On the other hand, performance-based RSS vest based on achieving predetermined performance targets, such as reaching certain financial goals or increasing shareholder value. The plan aims to align the interests of the company's employees with the long-term success and growth of the company. By granting employees ownership in the form of restricted stock, Bandstand Corp. motivates them to work towards achieving the company's objectives and increasing shareholder value. Participants in the Oakland Michigan Restricted Stock Plan often benefit from the potential increase in the company's stock price over time. As the stock price rises, the value of the RSS increases, providing employees with a valuable financial incentive. Additionally, the plan helps retain top talent by creating a sense of ownership and loyalty among employees. It's important to note that the specific details and terms of the Oakland Michigan Restricted Stock Plan may vary and are subject to the provisions outlined in the plan documents and agreements. Employees should carefully review the plan's terms and consult with professionals to understand the tax implications and requirements associated with participating in the plan. Overall, the Oakland Michigan Restricted Stock Plan of Bandstand Corp. is a significant employee incentive program that rewards and retains employees by granting them company stock, fostering a sense of ownership and commitment while aligning their interests with the company's long-term success.

The Oakland Michigan Restricted Stock Plan of Bandstand Corp is a comprehensive employee incentive program that provides eligible employees with an opportunity to acquire company stock at a discounted price or as part of their compensation package. The plan is designed to reward employees for their hard work and commitment to the company's success. Under this program, eligible employees are granted restricted stock units (RSS) as part of their compensation. RSS represents a promise to deliver company stock to the employee after a certain vesting period. During the vesting period, the employee does not have full ownership rights to the RSS and cannot sell or transfer them. However, once the vesting period is completed, the RSS convert into actual company stock that is fully owned by the employee. The Oakland Michigan Restricted Stock Plan offers different types of RSS, including time-based RSS and performance-based RSS. Time-based RSS vest over a specific period of time, usually ranging from one to five years. On the other hand, performance-based RSS vest based on achieving predetermined performance targets, such as reaching certain financial goals or increasing shareholder value. The plan aims to align the interests of the company's employees with the long-term success and growth of the company. By granting employees ownership in the form of restricted stock, Bandstand Corp. motivates them to work towards achieving the company's objectives and increasing shareholder value. Participants in the Oakland Michigan Restricted Stock Plan often benefit from the potential increase in the company's stock price over time. As the stock price rises, the value of the RSS increases, providing employees with a valuable financial incentive. Additionally, the plan helps retain top talent by creating a sense of ownership and loyalty among employees. It's important to note that the specific details and terms of the Oakland Michigan Restricted Stock Plan may vary and are subject to the provisions outlined in the plan documents and agreements. Employees should carefully review the plan's terms and consult with professionals to understand the tax implications and requirements associated with participating in the plan. Overall, the Oakland Michigan Restricted Stock Plan of Bandstand Corp. is a significant employee incentive program that rewards and retains employees by granting them company stock, fostering a sense of ownership and commitment while aligning their interests with the company's long-term success.