San Diego California Restricted Stock Plan of Sundstrand Corp.

• Category: Corporations - Public - Incentive Compensation Plans
• State: Multi-State
• County: San Diego
• 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 Diego California Restricted Stock Plan of Bandstand Corp. is a comprehensive compensation program offered to employees of Bandstand Corp. based in San Diego, California. This program provides eligible employees with the opportunity to receive shares of restricted stock as a form of additional compensation. Under this plan, employees are granted a specific number of shares of restricted stock that are subject to certain restrictions and limitations. These restrictions may include a vesting period, during which the shares are non-transferable and the employee must remain with the company to fully own them. Typically, vesting occurs over a predetermined period, ensuring employee loyalty and incentivizing long-term commitment. Upon reaching the end of the vesting period, employees gain full ownership of the restricted stock. At this point, they can decide to keep the shares or sell them on the open market, potentially realizing a gain if the stock has appreciated in value. It is worth noting that different types of restricted stock plans may exist within Bandstand Corp., tailored to specific employee groups or varying compensation levels. The San Diego California Restricted Stock Plan of Bandstand Corp. serves as an effective tool for attracting and retaining talented professionals by providing an additional financial incentive. By tying a portion of employee compensation to the company's stock performance, this plan encourages employees to align their interests with the success of the organization. In summary, the San Diego California Restricted Stock Plan of Bandstand Corp. is a compensation program that allows eligible employees to receive shares of restricted stock. By offering the potential for ownership in the company, this plan aims to incentivize long-term commitment, boost employee retention, and align employee interests with the success of Bandstand Corp.

The San Diego California Restricted Stock Plan of Bandstand Corp. is a comprehensive compensation program offered to employees of Bandstand Corp. based in San Diego, California. This program provides eligible employees with the opportunity to receive shares of restricted stock as a form of additional compensation. Under this plan, employees are granted a specific number of shares of restricted stock that are subject to certain restrictions and limitations. These restrictions may include a vesting period, during which the shares are non-transferable and the employee must remain with the company to fully own them. Typically, vesting occurs over a predetermined period, ensuring employee loyalty and incentivizing long-term commitment. Upon reaching the end of the vesting period, employees gain full ownership of the restricted stock. At this point, they can decide to keep the shares or sell them on the open market, potentially realizing a gain if the stock has appreciated in value. It is worth noting that different types of restricted stock plans may exist within Bandstand Corp., tailored to specific employee groups or varying compensation levels. The San Diego California Restricted Stock Plan of Bandstand Corp. serves as an effective tool for attracting and retaining talented professionals by providing an additional financial incentive. By tying a portion of employee compensation to the company's stock performance, this plan encourages employees to align their interests with the success of the organization. In summary, the San Diego California Restricted Stock Plan of Bandstand Corp. is a compensation program that allows eligible employees to receive shares of restricted stock. By offering the potential for ownership in the company, this plan aims to incentivize long-term commitment, boost employee retention, and align employee interests with the success of Bandstand Corp.