Connecticut Restricted Stock Plan of Sundstrand Corp.

• Category: Corporations - Public - Incentive Compensation Plans
• State: Multi-State
• 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

Connecticut Restricted Stock Plan of Bandstand Corp. The Connecticut Restricted Stock Plan of Bandstand Corp. is a comprehensive stock-based compensation program offered to eligible employees working in the state of Connecticut. This plan incorporates various types of stock grants and is designed to attract, motivate, and retain talented individuals within the organization. Under this plan, eligible employees are granted restricted stock units (RSS) as part of their total compensation package. This RSS represents a promise to deliver a specific number of company shares to the employee at a later date, subject to certain restrictions and conditions. The stock is typically restricted for a specific period, during which the employee cannot sell or transfer the shares. The Connecticut Restricted Stock Plan of Bandstand Corp. aims to align the interests of employees with those of the company's shareholders. By granting RSS, employees have a vested interest in the success and performance of the company, as the value of their stock will fluctuate with the company's stock price. There are different types of restricted stock plans under the Connecticut Restricted Stock Plan of Bandstand Corp., tailored to meet the specific needs of employees at various levels within the organization. These plans may include: 1. Senior Executive Restricted Stock Plan: This plan is exclusively designed for senior executives and aims to provide them with significant incentives to drive the company's growth and achieve key strategic goals. Participants in this plan may receive larger RSU grants and longer vesting periods. 2. Management Restricted Stock Plan: This plan is intended for mid-level managers and offers them the opportunity to share in the company's success. By incorporating RSS as a part of their compensation, the plan encourages managers to act in the company's best interest and enhance shareholder value. 3. Employee Stock Purchase Plan: This plan allows all eligible employees to purchase company stock at a discounted price through payroll deductions. Unlike RSS, these shares are not restrictive and can be sold or transferred immediately upon purchase. 4. Long-Term Incentive Plan: This type of plan is focused on rewarding long-term performance and commitment. It may include a combination of RSS, stock options, and performance-based awards, further motivating employees to contribute to the company's prosperity over an extended period. The Connecticut Restricted Stock Plan of Bandstand Corp. is carefully designed to comply with state regulations and ensure transparency and fairness in granting equity-based awards. It plays a crucial role in attracting and retaining top talent by offering competitive compensation packages and aligning the interests of employees with the company's growth objectives.