Queens New York Restricted Stock Plan of Sundstrand Corp.

• Category: Corporations - Public - Incentive Compensation Plans
• State: Multi-State
• County: Queens
• 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 Queens, New York Restricted Stock Plan of Bandstand Corp. is an employee incentive program that provides eligible employees with restricted stock units (RSS) as a form of compensation. This plan is specific to Bandstand Corp., a renowned company operating in Queens, New York. The Queens, New York Restricted Stock Plan aims to incentivize and reward employees for their contributions to the company's growth and success. It acts as a retention tool, encouraging employees to remain with Bandstand Corp. in the long term. By granting RSS, the company offers employees an opportunity to become partial owners and benefit from the organization's future performance. Restricted stock units are a common type of equity-based compensation granted to employees. RSS represents the right to receive a specific number of shares at a predetermined future date, subject to certain vesting requirements. When RSS vest, employees receive the shares, which they can choose to hold or sell in the open market. Bandstand Corp. offers various types of Restricted Stock Plans under this program, tailored to different employee groups or levels within the company. Some examples of these plans may include: 1. Executive Restricted Stock Plan: This plan may be specifically designed for high-level executives within Bandstand Corp. Executives often receive a more substantial stock grant as a reflection of their critical roles and responsibilities. 2. Employee Stock Purchase Plan: This type of plan may be available to all eligible employees, allowing them to purchase company stock at a discounted price. It encourages employee ownership and aligns their interests with the organization's success. 3. Performance-Based Restricted Stock Plan: This plan may be offered to employees based on performance metrics and achievement of specific goals. It rewards employees for their exceptional contributions and motivates them to excel in their roles. The Queens, New York Restricted Stock Plan of Bandstand Corp. serves as an attractive compensation package, encouraging employee engagement and loyalty. By granting RSS, Bandstand Corp. seeks to align the interests of its employees with the company's overall performance and growth, fostering a collaborative and mutually beneficial relationship.

The Queens, New York Restricted Stock Plan of Bandstand Corp. is an employee incentive program that provides eligible employees with restricted stock units (RSS) as a form of compensation. This plan is specific to Bandstand Corp., a renowned company operating in Queens, New York. The Queens, New York Restricted Stock Plan aims to incentivize and reward employees for their contributions to the company's growth and success. It acts as a retention tool, encouraging employees to remain with Bandstand Corp. in the long term. By granting RSS, the company offers employees an opportunity to become partial owners and benefit from the organization's future performance. Restricted stock units are a common type of equity-based compensation granted to employees. RSS represents the right to receive a specific number of shares at a predetermined future date, subject to certain vesting requirements. When RSS vest, employees receive the shares, which they can choose to hold or sell in the open market. Bandstand Corp. offers various types of Restricted Stock Plans under this program, tailored to different employee groups or levels within the company. Some examples of these plans may include: 1. Executive Restricted Stock Plan: This plan may be specifically designed for high-level executives within Bandstand Corp. Executives often receive a more substantial stock grant as a reflection of their critical roles and responsibilities. 2. Employee Stock Purchase Plan: This type of plan may be available to all eligible employees, allowing them to purchase company stock at a discounted price. It encourages employee ownership and aligns their interests with the organization's success. 3. Performance-Based Restricted Stock Plan: This plan may be offered to employees based on performance metrics and achievement of specific goals. It rewards employees for their exceptional contributions and motivates them to excel in their roles. The Queens, New York Restricted Stock Plan of Bandstand Corp. serves as an attractive compensation package, encouraging employee engagement and loyalty. By granting RSS, Bandstand Corp. seeks to align the interests of its employees with the company's overall performance and growth, fostering a collaborative and mutually beneficial relationship.