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
District of Columbia Long Term Performance and Restricted Stock Incentive Plan of Ipalco Enterprises, Inc.
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RSUs are bonuses that are paid in the form of company stock. The RSU income is calculated as the RSUs vest: Quantity of RSUs vested. Times your company's closing stock price.
RSUs are assigned a fair market value at the time they become vested. In other words, if the company's stock is valued at $20 per share at the time the RSU becomes vested, then the per-unit value of the RSUs is $20.
Each RSU will correspond to a certain number and value of employer stock. For example, suppose your RSU agreement states that one RSU corresponds to one share of company stock, which currently trades for $20 per share. If you're offered 100 RSUs, then your units are worth 100 shares of stock with a value of $2,000.
Once the RSUs vest, the employee can keep, sell, or transfer the shares, just like any other stock. Companies use RSUs as a form of employee compensation or bonus.
RSUs are a type of restricted stock (which may also be known as ?letter stock? or ?restricted securities?). Restricted stock is company stock that cannot be fully transferable until certain restrictions have been met. These can be performance or timing restrictions, similar to restrictions for options.
RSUs and Taxes The value of the shares is determined by the market price on the day of vesting/distribution. Since this is compensation income, the company will withhold the taxes from the employee's wages.
Even for terminated employees, companies withhold taxes upon exercises of nonqualified stock options (NQSOs) and the vesting of restricted stock/RSUs. The income and withholding are typically still reported to you on Form W-2, even if the option exercise occurred after your employment ended?but not always.
To summarize: RSU tax at vesting date is: The # of shares vesting x price of shares = Income taxed in the current year. If held beyond the vesting date, the RSU tax when shares are sold is: (Sales price ? price at vesting) x # of shares = Capital gain (or loss)