San Bernardino California Restricted Stock Plan of Sundstrand Corp.

• Category: Corporations - Public - Incentive Compensation Plans
• State: Multi-State
• County: San Bernardino
• 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 Bernardino California Restricted Stock Plan of Bandstand Corp. is a comprehensive equity-based compensation plan designed specifically for eligible employees within the company. This plan offers a unique opportunity for employees to acquire and hold restricted stock units (RSS) as part of their overall compensation package. The San Bernardino California Restricted Stock Plan aims to incentivize and reward employees for their hard work, dedication, and contribution to the success of Bandstand Corp. It aims to align employees' interests with the long-term growth and profitability of the company by offering them ownership opportunities through RSS. Under this plan, eligible employees are granted RSS, which represent a specific number of shares of the company's stock. This RSS is subject to a vesting schedule, which means that employees can only access and sell their shares after a certain period, usually three to five years. This vesting period is designed to retain employees and ensure their continued commitment to the company's success. One of the advantages of the San Bernardino California Restricted Stock Plan is that it allows employees to benefit from the company's stock price appreciation over time. As the RSS vest, employees can convert them into regular shares of the company's stock and potentially profit from any increase in its value. There may be variations or different types of the San Bernardino California Restricted Stock Plan within Bandstand Corp. to accommodate specific employee groups or levels. For example, there could be separate plans for executives, senior management, or employees in different departments or divisions. These variations might be based on different vesting periods, grant sizes, or other terms to ensure appropriate alignment with the company's compensation philosophy and employee hierarchy. Overall, the San Bernardino California Restricted Stock Plan of Bandstand Corp. serves as a valuable tool to attract, motivate, and retain talented individuals within the company by providing them with an opportunity to share in its financial success. It promotes employee engagement, aligns their interests with those of the shareholders, and fosters a sense of ownership and loyalty, all vital components for a thriving and successful corporation.

The San Bernardino California Restricted Stock Plan of Bandstand Corp. is a comprehensive equity-based compensation plan designed specifically for eligible employees within the company. This plan offers a unique opportunity for employees to acquire and hold restricted stock units (RSS) as part of their overall compensation package. The San Bernardino California Restricted Stock Plan aims to incentivize and reward employees for their hard work, dedication, and contribution to the success of Bandstand Corp. It aims to align employees' interests with the long-term growth and profitability of the company by offering them ownership opportunities through RSS. Under this plan, eligible employees are granted RSS, which represent a specific number of shares of the company's stock. This RSS is subject to a vesting schedule, which means that employees can only access and sell their shares after a certain period, usually three to five years. This vesting period is designed to retain employees and ensure their continued commitment to the company's success. One of the advantages of the San Bernardino California Restricted Stock Plan is that it allows employees to benefit from the company's stock price appreciation over time. As the RSS vest, employees can convert them into regular shares of the company's stock and potentially profit from any increase in its value. There may be variations or different types of the San Bernardino California Restricted Stock Plan within Bandstand Corp. to accommodate specific employee groups or levels. For example, there could be separate plans for executives, senior management, or employees in different departments or divisions. These variations might be based on different vesting periods, grant sizes, or other terms to ensure appropriate alignment with the company's compensation philosophy and employee hierarchy. Overall, the San Bernardino California Restricted Stock Plan of Bandstand Corp. serves as a valuable tool to attract, motivate, and retain talented individuals within the company by providing them with an opportunity to share in its financial success. It promotes employee engagement, aligns their interests with those of the shareholders, and fosters a sense of ownership and loyalty, all vital components for a thriving and successful corporation.