Salt Lake Utah Restricted Stock Plan of Sundstrand Corp.

• Category: Corporations - Public - Incentive Compensation Plans
• State: Multi-State
• County: Salt Lake
• 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 Salt Lake Utah Restricted Stock Plan of Bandstand Corp. is an employee benefit program that offers restricted stock to eligible employees based in Salt Lake City, Utah. This plan is designed to provide additional compensation and incentives to employees as a part of their overall compensation package. The Salt Lake Utah Restricted Stock Plan of Bandstand Corp. allows employees to acquire shares of the company's stock at a discounted price or no cost with certain restrictions. These shares are typically subject to vesting periods, which means employees can only fully own the shares after a specified period of time or upon meeting certain performance goals. One type of Salt Lake Utah Restricted Stock Plan of Bandstand Corp. is the Restricted Stock Unit (RSU) Plan. Under this plan, eligible employees are granted a specific number of RSS, which represent the right to receive a predetermined number of shares in the future. RSS are subject to vesting schedules and usually convert into actual company shares once the vesting requirements are met. Another type of Salt Lake Utah Restricted Stock Plan of Bandstand Corp. is the Performance-Based Restricted Stock Plan. This plan ties the issuance of restricted stock to specific performance metrics or goals, such as achieving revenue targets or increasing market share. Eligible employees are granted restricted stock units or shares based on their performance during a designated performance period. The Salt Lake Utah Restricted Stock Plan of Bandstand Corp. is designed to align the interests of employees with those of the company's shareholders. By offering restricted stock, employees have the potential to share in the company's success and be motivated to work towards its long-term growth and profitability. It is important to note that the specific details and terms of the Salt Lake Utah Restricted Stock Plan may vary depending on individual employment agreements and the policies set forth by Bandstand Corp. Eligible employees are encouraged to consult the plan documents and seek guidance from human resources or financial professionals for accurate and up-to-date information.

The Salt Lake Utah Restricted Stock Plan of Bandstand Corp. is an employee benefit program that offers restricted stock to eligible employees based in Salt Lake City, Utah. This plan is designed to provide additional compensation and incentives to employees as a part of their overall compensation package. The Salt Lake Utah Restricted Stock Plan of Bandstand Corp. allows employees to acquire shares of the company's stock at a discounted price or no cost with certain restrictions. These shares are typically subject to vesting periods, which means employees can only fully own the shares after a specified period of time or upon meeting certain performance goals. One type of Salt Lake Utah Restricted Stock Plan of Bandstand Corp. is the Restricted Stock Unit (RSU) Plan. Under this plan, eligible employees are granted a specific number of RSS, which represent the right to receive a predetermined number of shares in the future. RSS are subject to vesting schedules and usually convert into actual company shares once the vesting requirements are met. Another type of Salt Lake Utah Restricted Stock Plan of Bandstand Corp. is the Performance-Based Restricted Stock Plan. This plan ties the issuance of restricted stock to specific performance metrics or goals, such as achieving revenue targets or increasing market share. Eligible employees are granted restricted stock units or shares based on their performance during a designated performance period. The Salt Lake Utah Restricted Stock Plan of Bandstand Corp. is designed to align the interests of employees with those of the company's shareholders. By offering restricted stock, employees have the potential to share in the company's success and be motivated to work towards its long-term growth and profitability. It is important to note that the specific details and terms of the Salt Lake Utah Restricted Stock Plan may vary depending on individual employment agreements and the policies set forth by Bandstand Corp. Eligible employees are encouraged to consult the plan documents and seek guidance from human resources or financial professionals for accurate and up-to-date information.