Pima Arizona Long Term Incentive Compensation Plan of A.M. Castle and Co.

• Category: Corporations - Public - Incentive Compensation Plans
• State: Multi-State
• County: Pima
• Control #: US-CC-20-181
• Format: Word; Rich Text

Description

20-181 20-181 . . . Long Term Incentive Compensation Plan under which Human Resources Committee designates employees who will be participants in Plan and establishes Maximum Award Percentage with respect to each participant for each three year performance cycle. Each participant is entitled to a Performance Award if annual compounded total return (based upon stock appreciation and deemed reinvestment of dividends) on corporation common stock for that performance cycle equals or exceeds 1.5% plus annual compounded total return on common stock of Standard & Poor's 500 Industrials for such period. A participant's Performance Award for a performance cycle is amount equal to product of (a) participant's base salary multiplied by (b) his Maximum Award Percentage multiplied by (c) applicable Attainment Percentage for that performance cycle The Lima Arizona Long Term Incentive Compensation Plan offered by A.M. Castle and Co. is a comprehensive program designed to reward and retain key employees of the company in Lima, Arizona. This plan comprises several types of incentives tailored to align the employees' long-term goals with the company's overall growth and success. One type of incentive offered under the Lima Arizona Long Term Incentive Compensation Plan is the stock options. Stock options allow eligible employees to purchase company shares at a predetermined price, known as the exercise price, within a specific timeframe. This gives employees the opportunity to benefit from the company's stock performance over the long term while encouraging them to stay committed to their roles and contribute to the company's growth. Another component of the plan is the restricted stock units (RSS). RSS grant eligible employees a certain number of company shares, which are subject to vesting conditions. Once these conditions are met, employees gain ownership of the granted shares. RSS serve as a retention tool by encouraging employees to remain with the company until the vesting period is complete, thus aligning their interests with the long-term success of A.M. Castle and Co. The Lima Arizona Long Term Incentive Compensation Plan also includes performance-based cash incentives. These incentives are determined based on the achievement of specific performance targets and goals set by the company. Eligible employees may receive cash bonuses or awards based on their individual or team performances, fostering a culture of high performance, accountability, and teamwork within the organization. Furthermore, the plan may offer other forms of long-term incentives, such as performance share units (Plus) or multi-year cash bonus programs. Plus grant employees the opportunity to receive shares of the company's stock, similar to RSS, based on the achievement of predetermined performance metrics. Multi-year cash bonus programs provide additional monetary rewards over an extended period, motivating employees to contribute to the company's long-term success and growth. Overall, the Lima Arizona Long Term Incentive Compensation Plan of A.M. Castle and Co. contemplates a variety of incentives tailored to engage, reward, and retain key employees. By combining stock options, restricted stock units, performance-based cash incentives, and potentially other long-term incentives, the plan aims to foster a sense of ownership, loyalty, and commitment among employees towards the company's prosperity in Lima, Arizona.

The Lima Arizona Long Term Incentive Compensation Plan offered by A.M. Castle and Co. is a comprehensive program designed to reward and retain key employees of the company in Lima, Arizona. This plan comprises several types of incentives tailored to align the employees' long-term goals with the company's overall growth and success. One type of incentive offered under the Lima Arizona Long Term Incentive Compensation Plan is the stock options. Stock options allow eligible employees to purchase company shares at a predetermined price, known as the exercise price, within a specific timeframe. This gives employees the opportunity to benefit from the company's stock performance over the long term while encouraging them to stay committed to their roles and contribute to the company's growth. Another component of the plan is the restricted stock units (RSS). RSS grant eligible employees a certain number of company shares, which are subject to vesting conditions. Once these conditions are met, employees gain ownership of the granted shares. RSS serve as a retention tool by encouraging employees to remain with the company until the vesting period is complete, thus aligning their interests with the long-term success of A.M. Castle and Co. The Lima Arizona Long Term Incentive Compensation Plan also includes performance-based cash incentives. These incentives are determined based on the achievement of specific performance targets and goals set by the company. Eligible employees may receive cash bonuses or awards based on their individual or team performances, fostering a culture of high performance, accountability, and teamwork within the organization. Furthermore, the plan may offer other forms of long-term incentives, such as performance share units (Plus) or multi-year cash bonus programs. Plus grant employees the opportunity to receive shares of the company's stock, similar to RSS, based on the achievement of predetermined performance metrics. Multi-year cash bonus programs provide additional monetary rewards over an extended period, motivating employees to contribute to the company's long-term success and growth. Overall, the Lima Arizona Long Term Incentive Compensation Plan of A.M. Castle and Co. contemplates a variety of incentives tailored to engage, reward, and retain key employees. By combining stock options, restricted stock units, performance-based cash incentives, and potentially other long-term incentives, the plan aims to foster a sense of ownership, loyalty, and commitment among employees towards the company's prosperity in Lima, Arizona.