San Antonio Texas Restricted Stock Plan of Sundstrand Corp.

• Category: Corporations - Public - Incentive Compensation Plans
• State: Multi-State
• City: San Antonio
• 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 San Antonio Texas Restricted Stock Plan of Bandstand Corp., also known as the San Antonio RS Plan, is an employee benefit program offered by Bandstand Corporation to its employees based in San Antonio, Texas. This plan aims to incentivize and reward employees by providing them with an opportunity to receive shares of the company's stock, subject to certain restrictions. Under the San Antonio RS Plan, eligible employees are granted restricted stock units (RSS) as a form of compensation. RSS represents a promise to deliver a certain number of shares of the company's stock in the future, typically upon the satisfaction of certain vesting requirements. These requirements may include the employee completing a certain period of service with the company or meeting specific performance targets. The San Antonio RS Plan allows employees to participate in the growth and success of Bandstand Corporation directly through ownership of company stock. By offering RSS, the plan aligns the interests of employees with the company's shareholders, promoting a sense of ownership and increased motivation among employees to drive the company's performance. There may be different types or variations of the San Antonio RS Plan within Bandstand Corporation. These variations might include different vesting periods, performance criteria, or allocation methods. Specific details of each variation would be outlined in the individual employee's RSU agreement and associated plan documents. It's important for employees participating in the San Antonio RS Plan to carefully review their RSU agreements and the plan documents to understand the terms and conditions, including the restrictions on the stock and any tax implications associated with the plan. Employees should also consult with a financial advisor or tax professional to ensure they make informed decisions regarding their participation in the San Antonio RS Plan. Overall, the San Antonio Texas Restricted Stock Plan of Bandstand Corp. provides a valuable opportunity for employees in San Antonio, Texas to be rewarded and benefit from the growth and success of Bandstand Corporation, promoting a greater sense of ownership and engagement within the company.

The San Antonio Texas Restricted Stock Plan of Bandstand Corp., also known as the San Antonio RS Plan, is an employee benefit program offered by Bandstand Corporation to its employees based in San Antonio, Texas. This plan aims to incentivize and reward employees by providing them with an opportunity to receive shares of the company's stock, subject to certain restrictions. Under the San Antonio RS Plan, eligible employees are granted restricted stock units (RSS) as a form of compensation. RSS represents a promise to deliver a certain number of shares of the company's stock in the future, typically upon the satisfaction of certain vesting requirements. These requirements may include the employee completing a certain period of service with the company or meeting specific performance targets. The San Antonio RS Plan allows employees to participate in the growth and success of Bandstand Corporation directly through ownership of company stock. By offering RSS, the plan aligns the interests of employees with the company's shareholders, promoting a sense of ownership and increased motivation among employees to drive the company's performance. There may be different types or variations of the San Antonio RS Plan within Bandstand Corporation. These variations might include different vesting periods, performance criteria, or allocation methods. Specific details of each variation would be outlined in the individual employee's RSU agreement and associated plan documents. It's important for employees participating in the San Antonio RS Plan to carefully review their RSU agreements and the plan documents to understand the terms and conditions, including the restrictions on the stock and any tax implications associated with the plan. Employees should also consult with a financial advisor or tax professional to ensure they make informed decisions regarding their participation in the San Antonio RS Plan. Overall, the San Antonio Texas Restricted Stock Plan of Bandstand Corp. provides a valuable opportunity for employees in San Antonio, Texas to be rewarded and benefit from the growth and success of Bandstand Corporation, promoting a greater sense of ownership and engagement within the company.