Travis Texas Restricted Stock Plan of Sundstrand Corp.

• Category: Corporations - Public - Incentive Compensation Plans
• State: Multi-State
• County: Travis
• 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 Travis Texas Restricted Stock Plan of Bandstand Corp. is a comprehensive employee stock ownership program designed to provide eligible employees of Bandstand Corp. in Travis, Texas, with an opportunity to acquire company shares. This program aims to incentivize and reward employees by granting them restricted stock units (RSS) that vest over a specified period, aligning their interests with those of the company and its shareholders. Under the Travis Texas Restricted Stock Plan, individuals who meet the eligibility criteria are granted RSS, which represent an ownership interest in the company. RSS are typically subject to a vesting schedule, meaning that employees must remain with the company for a certain period before they can claim full ownership of the granted shares. The Travis Texas Restricted Stock Plan allows employees to participate in the company's growth and success over time. As the value of the company increases, so does the value of the RSS granted to employees, providing them with a potential financial benefit. It is important to note that the Travis Texas Restricted Stock Plan is specific to Bandstand Corp. in Travis, Texas. Other locations or divisions within Bandstand Corp. may have their own restricted stock plans tailored to their respective employee populations. Beneficiaries of this plan may include employees in various departments, such as engineering, manufacturing, sales, marketing, finance, and administration, among others. The plan aims to encourage long-term commitment and retention of talented employees by offering them a stake in the company's performance. Participation in the Travis Texas Restricted Stock Plan is typically contingent upon meeting certain criteria, including length of service, employment status, and performance evaluations. Detailed terms and conditions of the plan, including the vesting schedule, are determined by Bandstand Corp. and communicated to eligible employees upon enrollment. In summary, the Travis Texas Restricted Stock Plan of Bandstand Corp. is an employee stock ownership initiative that grants employees RSS as a reward for their service and performance. This program fosters a sense of shared ownership, aligns employee interests with company goals, and motivates employees to contribute to the long-term success of Bandstand Corp.

Travis Texas Restricted Stock Plan of Bandstand Corp. is a comprehensive employee stock ownership program designed to provide eligible employees of Bandstand Corp. in Travis, Texas, with an opportunity to acquire company shares. This program aims to incentivize and reward employees by granting them restricted stock units (RSS) that vest over a specified period, aligning their interests with those of the company and its shareholders. Under the Travis Texas Restricted Stock Plan, individuals who meet the eligibility criteria are granted RSS, which represent an ownership interest in the company. RSS are typically subject to a vesting schedule, meaning that employees must remain with the company for a certain period before they can claim full ownership of the granted shares. The Travis Texas Restricted Stock Plan allows employees to participate in the company's growth and success over time. As the value of the company increases, so does the value of the RSS granted to employees, providing them with a potential financial benefit. It is important to note that the Travis Texas Restricted Stock Plan is specific to Bandstand Corp. in Travis, Texas. Other locations or divisions within Bandstand Corp. may have their own restricted stock plans tailored to their respective employee populations. Beneficiaries of this plan may include employees in various departments, such as engineering, manufacturing, sales, marketing, finance, and administration, among others. The plan aims to encourage long-term commitment and retention of talented employees by offering them a stake in the company's performance. Participation in the Travis Texas Restricted Stock Plan is typically contingent upon meeting certain criteria, including length of service, employment status, and performance evaluations. Detailed terms and conditions of the plan, including the vesting schedule, are determined by Bandstand Corp. and communicated to eligible employees upon enrollment. In summary, the Travis Texas Restricted Stock Plan of Bandstand Corp. is an employee stock ownership initiative that grants employees RSS as a reward for their service and performance. This program fosters a sense of shared ownership, aligns employee interests with company goals, and motivates employees to contribute to the long-term success of Bandstand Corp.