Salt Lake Utah Long Term Performance and Restricted Stock Incentive Plan of Ipalco Enterprises, Inc.

• Category: Corporations - Public - Incentive Compensation Plans
• State: Multi-State
• County: Salt Lake
• Control #: US-CC-20-174D
• Format: Word; Rich Text

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 The Salt Lake Utah Long Term Performance and Restricted Stock Incentive Plan of INALCOL Enterprises, Inc. is a comprehensive employee compensation and retention program that aims to reward long-term performance and incentivize employees through stock-based awards. This plan is specifically tailored for employees of INALCOL Enterprises, Inc. based in Salt Lake City, Utah. The Salt Lake Utah Long Term Performance and Restricted Stock Incentive Plan comprises several types of awards and incentives designed to align employee interests with the company's overall performance and growth. These awards include restricted stock units (RSS), performance stock units (Plus), and performance-based stock options (Pesos). Restricted stock units (RSS) are awards granted to eligible employees, subject to certain vesting requirements. RSS represents a specific number of shares of INALCOL Enterprises, Inc.'s common stock, which are granted to employees at no cost. However, employees cannot sell, transfer, or pledge the RSS until they have vested. Performance stock units (Plus) are another type of award offered under this plan. These Plus are granted based on predetermined performance goals set by INALCOL Enterprises, Inc. Employees receive a specific number of pluses, which convert into actual shares of company stock upon achieving the performance goals. The Salt Lake Utah Long Term Performance and Restricted Stock Incentive Plan also includes performance-based stock options (Pesos). Stock options grant an employee the right to purchase a specified number of company shares at a predetermined price within a defined exercise period. Pesos are granted based on performance criteria and are subject to specific vesting terms. These various types of awards under the Salt Lake Utah Long Term Performance and Restricted Stock Incentive Plan seek to motivate employees by linking their compensations to the company's long-term success and shareholder value creation. By using a combination of RSS, Plus, and Pesos, INALCOL Enterprises, Inc. aims to retain top talent, encourage strong performance, and align employees' interests with the company's growth objectives. It's important to note that the specific terms and conditions of the Salt Lake Utah Long Term Performance and Restricted Stock Incentive Plan may vary, and employees should refer to the official plan documents and their individual agreements for full details on eligibility, vesting schedules, performance metrics, and other pertinent information.

The Salt Lake Utah Long Term Performance and Restricted Stock Incentive Plan of INALCOL Enterprises, Inc. is a comprehensive employee compensation and retention program that aims to reward long-term performance and incentivize employees through stock-based awards. This plan is specifically tailored for employees of INALCOL Enterprises, Inc. based in Salt Lake City, Utah. The Salt Lake Utah Long Term Performance and Restricted Stock Incentive Plan comprises several types of awards and incentives designed to align employee interests with the company's overall performance and growth. These awards include restricted stock units (RSS), performance stock units (Plus), and performance-based stock options (Pesos). Restricted stock units (RSS) are awards granted to eligible employees, subject to certain vesting requirements. RSS represents a specific number of shares of INALCOL Enterprises, Inc.'s common stock, which are granted to employees at no cost. However, employees cannot sell, transfer, or pledge the RSS until they have vested. Performance stock units (Plus) are another type of award offered under this plan. These Plus are granted based on predetermined performance goals set by INALCOL Enterprises, Inc. Employees receive a specific number of pluses, which convert into actual shares of company stock upon achieving the performance goals. The Salt Lake Utah Long Term Performance and Restricted Stock Incentive Plan also includes performance-based stock options (Pesos). Stock options grant an employee the right to purchase a specified number of company shares at a predetermined price within a defined exercise period. Pesos are granted based on performance criteria and are subject to specific vesting terms. These various types of awards under the Salt Lake Utah Long Term Performance and Restricted Stock Incentive Plan seek to motivate employees by linking their compensations to the company's long-term success and shareholder value creation. By using a combination of RSS, Plus, and Pesos, INALCOL Enterprises, Inc. aims to retain top talent, encourage strong performance, and align employees' interests with the company's growth objectives. It's important to note that the specific terms and conditions of the Salt Lake Utah Long Term Performance and Restricted Stock Incentive Plan may vary, and employees should refer to the official plan documents and their individual agreements for full details on eligibility, vesting schedules, performance metrics, and other pertinent information.