Riverside California Restricted Stock Plan of Sundstrand Corp.

• Category: Corporations - Public - Incentive Compensation Plans
• State: Multi-State
• County: Riverside
• 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 Riverside California Restricted Stock Plan of Bandstand Corp. is an employee benefit program offered by the company to eligible employees in the Riverside, California area. This plan allows employees to purchase or receive shares of Bandstand Corp. stock at a discounted price, subject to certain restrictions and conditions. The purpose of the Riverside California Restricted Stock Plan is to incentivize and reward employees for their contributions to the company's success. It aims to align the interests of employees with the performance and growth of Bandstand Corp. by providing them with an ownership stake in the company. Under this plan, eligible employees are granted a predetermined number of restricted stock units (RSS) or stock options, which they can convert into shares of Bandstand Corp. stock over a specified period. The RSS or stock options are typically subject to a vesting period, during which the employees must remain employed with the company to fully own the granted shares. There may be different types or variations of the Riverside California Restricted Stock Plan, depending on the specific terms and conditions set forth by Bandstand Corp. Some variations might include different vesting schedules, performance-based criteria, or eligibility requirements based on job level or tenure with the company. Employees participating in the Riverside California Restricted Stock Plan have the opportunity to benefit from the potential appreciation of Bandstand Corp. stock over time. When the RSS or stock options fully vest, employees can sell the shares at their market value, potentially realizing a profit. It is important for employees to understand the terms, restrictions, and tax implications associated with the plan before participating. It is advisable to consult with a financial advisor or review the plan's documentation and guidelines provided by Bandstand Corp. Overall, the Riverside California Restricted Stock Plan of Bandstand Corp. offers employees in the Riverside area a valuable opportunity to become company shareholders and potentially share in the company's success.

The Riverside California Restricted Stock Plan of Bandstand Corp. is an employee benefit program offered by the company to eligible employees in the Riverside, California area. This plan allows employees to purchase or receive shares of Bandstand Corp. stock at a discounted price, subject to certain restrictions and conditions. The purpose of the Riverside California Restricted Stock Plan is to incentivize and reward employees for their contributions to the company's success. It aims to align the interests of employees with the performance and growth of Bandstand Corp. by providing them with an ownership stake in the company. Under this plan, eligible employees are granted a predetermined number of restricted stock units (RSS) or stock options, which they can convert into shares of Bandstand Corp. stock over a specified period. The RSS or stock options are typically subject to a vesting period, during which the employees must remain employed with the company to fully own the granted shares. There may be different types or variations of the Riverside California Restricted Stock Plan, depending on the specific terms and conditions set forth by Bandstand Corp. Some variations might include different vesting schedules, performance-based criteria, or eligibility requirements based on job level or tenure with the company. Employees participating in the Riverside California Restricted Stock Plan have the opportunity to benefit from the potential appreciation of Bandstand Corp. stock over time. When the RSS or stock options fully vest, employees can sell the shares at their market value, potentially realizing a profit. It is important for employees to understand the terms, restrictions, and tax implications associated with the plan before participating. It is advisable to consult with a financial advisor or review the plan's documentation and guidelines provided by Bandstand Corp. Overall, the Riverside California Restricted Stock Plan of Bandstand Corp. offers employees in the Riverside area a valuable opportunity to become company shareholders and potentially share in the company's success.