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Long Term Performance and Restricted Stock Incentive Plan of Ipalco...

Clark Nevada Long Term Performance and Restricted Stock Incentive Plan of Ipalco Enterprises, Inc.

Name: Clark Nevada Long Term Performance and Restricted Stock Incentive Plan of Ipalco Enterprises, Inc.
Brand: US Legal Forms
Rating: 4.59 (363 reviews)

Category:

Corporations - Public - Incentive Compensation Plans

State:

Multi-State

County:

Clark

Control #:

US-CC-20-174D

Format:

Instant download

Description

20-174D 20-174D . . . Restricted Stock Incentive Plan under which Compensation Committee selects participants, determines number of shares of common stock covered by each grant, establishes appropriate performance measures, and chooses appropriate corporation peer group. The number of shares granted is equal to a percentage of participant's base salary for first calendar year of each three-year program. The base salary percentage target of first three-year grants range from 10% to 35%; maximum base salary grant permitted by Plan may not exceed 70% of participant's base salary. After end of a Performance Period, Committee determines adjustments, if any, that are required to be made to share grants for Performance Period based on actual results under Performance Measures (performance of corporation versus its peer group) for such Performance Period. After adjustments, restrictions on shares held by participant are lifted as to 1/3 on July 1 immediately following Performance Period and additional 1/3 increments on the first and second anniversaries of such July 1, provided participant is still employed by corporation on such date. If participant ceases to be employed by corporation before restrictions lapse on shares held by him or her, shares still subject to restrictions are immediately forfeited

Restricted Stock Plan of Sundstrand Corp.

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FAQ

The advantages of restricted stock bonus/purchase plans are (1) the employee can make the §83(b) election; (2) the employee is generally entitled to capital gain treatment on sale of vested stock; and (3) the Company gets a wage deduction without paying cash wages.

Restricted stock (also called letter stock or section 1244 stock) is usually awarded to company directors and other high-level executives, whereas restricted stock units (RSUs) are typically awarded to lower-level employees. Restricted stock tends to have more conditions and restrictions than an RSU.

A Restricted Stock Plan is a common way to share stock with employees in public companies. The shareholder approved plan simply allows for the issuance of stock to selected employees. Unlike stock options, employees receive the full starting value of the shares.

Restricted stock units are a way an employer can grant company shares to employees. The grant is "restricted" because it is subject to a vesting schedule, which can be based on length of employment or on performance goals, and because it is governed by other limits on transfers or sales that your company can impose.

RSUs are generally subject to a vesting schedule, meaning the stock does not fully belong to the employee until such a time it is vested. During the vesting period, the stock cannot be sold. Once vested, the stock is given a Fair Market Value and is considered taxable compensation to the employee.

Restricted stock refers to unregistered shares of ownership in a corporation that are issued to corporate affiliates, such as executives and directors. Restricted stock is non-transferable and must be traded in compliance with special Securities and Exchange Commission (SEC) regulations.

Restricted stock units are issued to employees through a vesting plan and distribution schedule after they achieve required performance milestones or upon remaining with their employer for a particular length of time. RSUs give employees interest in company stock but no tangible value until vesting is complete.

Advantages. RSUs provide an incentive for employees to stay with a company for the long term and help it perform well so that their shares increase in value.

A restricted stock award (RSA) is a form of equity compensation used in stock compensation programs. An RSA is a grant of company stock in which the recipient's rights in the stock are restricted until the shares vest.

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We believe that the following plans are an appropriate mechanism to align the interests of the Company and its executives to achieve the Company's strategy for long- term performance and to address our obligations under the terms of its 401(k) plan. The Company has not considered whether the Incentive Plans are similar to other existing retirement plans that are available to us. Accordingly, we have a written policy regarding the timing and terms of payment of incentives.

Disclaimer
The materials in this section are taken from public sources. We disclaim all representations or any warranties, express or implied, as to the accuracy, authenticity, reliability, accessibility, adequacy, or completeness of any data in this paragraph. Nevertheless, we make every effort to cite public sources deemed reliable and trustworthy.

Clark Nevada Long Term Performance and Restricted Stock Incentive Plan of Ipalco Enterprises, Inc.

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How do I get a restricted stock unit?

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What is the meaning of restricted stock?

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