Tarrant Texas Restricted Stock Plan of Sundstrand Corp.

• Category: Corporations - Public - Incentive Compensation Plans
• State: Multi-State
• County: Tarrant
• 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 Tarrant Texas Restricted Stock Plan is a compensation plan offered by Bandstand Corp., a leading company in the aerospace and defense industry. This plan is designed to reward and incentivize eligible employees by providing them with restricted stock units (RSS). Restricted stock units are a form of compensation that grant employees the right to receive company stock at a predetermined future date, subject to certain conditions and restrictions. The Tarrant Texas Restricted Stock Plan allows employees to accumulate RSS, which vest over a specific period of time or upon achieving predetermined performance goals. The plan is open to eligible employees of Bandstand Corp. located in Tarrant, Texas. It is an integral part of the company's comprehensive employee benefits package, aimed at attracting and retaining talented individuals. There are several types of Tarrant Texas Restricted Stock Plans available to eligible employees. These may include: 1. Performance-Based Restricted Stock Plan: This type of plan links the vesting of RSS to the company's performance metrics or individual performance goals. Employees who meet or exceed these objectives are granted the vested shares. 2. Time-Vested Restricted Stock Plan: In this type of plan, RSS vest over time, typically in predetermined increments. For example, 25% of the RSS may vest after one year of service, and the remaining 75% vesting gradually over the subsequent years. 3. Performance and Time-Based Restricted Stock Plan: This plan combines the aspects of performance-based and time-vested plans. It sets both performance targets and a service period before RSS fully vest. Employees must achieve the predetermined performance goals and remain with the company for the specified duration to receive the shares. Participation in the Tarrant Texas Restricted Stock Plan is voluntary, allowing eligible employees to choose whether to participate based on their individual financial planning and career goals. The plan serves as a valuable long-term incentive, aligning the interests of employees and shareholders and motivating employees to contribute to the company's success. The Tarrant Texas Restricted Stock Plan of Bandstand Corp. showcases the company's commitment to recognizing and rewarding its employees' contributions to the organization's growth while fostering a sense of ownership and loyalty.

The Tarrant Texas Restricted Stock Plan is a compensation plan offered by Bandstand Corp., a leading company in the aerospace and defense industry. This plan is designed to reward and incentivize eligible employees by providing them with restricted stock units (RSS). Restricted stock units are a form of compensation that grant employees the right to receive company stock at a predetermined future date, subject to certain conditions and restrictions. The Tarrant Texas Restricted Stock Plan allows employees to accumulate RSS, which vest over a specific period of time or upon achieving predetermined performance goals. The plan is open to eligible employees of Bandstand Corp. located in Tarrant, Texas. It is an integral part of the company's comprehensive employee benefits package, aimed at attracting and retaining talented individuals. There are several types of Tarrant Texas Restricted Stock Plans available to eligible employees. These may include: 1. Performance-Based Restricted Stock Plan: This type of plan links the vesting of RSS to the company's performance metrics or individual performance goals. Employees who meet or exceed these objectives are granted the vested shares. 2. Time-Vested Restricted Stock Plan: In this type of plan, RSS vest over time, typically in predetermined increments. For example, 25% of the RSS may vest after one year of service, and the remaining 75% vesting gradually over the subsequent years. 3. Performance and Time-Based Restricted Stock Plan: This plan combines the aspects of performance-based and time-vested plans. It sets both performance targets and a service period before RSS fully vest. Employees must achieve the predetermined performance goals and remain with the company for the specified duration to receive the shares. Participation in the Tarrant Texas Restricted Stock Plan is voluntary, allowing eligible employees to choose whether to participate based on their individual financial planning and career goals. The plan serves as a valuable long-term incentive, aligning the interests of employees and shareholders and motivating employees to contribute to the company's success. The Tarrant Texas Restricted Stock Plan of Bandstand Corp. showcases the company's commitment to recognizing and rewarding its employees' contributions to the organization's growth while fostering a sense of ownership and loyalty.