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
Guam Long Term Performance and Restricted Stock Incentive Plan of Ipalco Enterprises, Inc.
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There are 5 main purposes behind LTIP implementation and benefits they are believed to provide: Align executive and shareholder interests. ... Attract, retain and motivate top talent. ... Focus on long-term vision and key performance criteria. ... The win-win strategy: provide competitive pay based on performance. ... Create wealth.
Payout may be tied to achievement of performance goals, but ultimately, employees will receive a share of the company stock. Note that some companies may grant ?phantom shares,? which track the movement of the value of the underlying shares but pay out in cash.
An LTIP works by rewarding employees (usually senior employees) with cash or shares of company stock for meeting specific goals. The goals are usually long-term, running for 3-5 years to stimulate ongoing progress rather than a-few-months objectives.
term incentive plan (LTIP) is a company policy that rewards employees for reaching specific goals that lead to increased shareholder value. In a typical LTIP, the employee, usually an executive, must fulfill various conditions or requirements.
An example of a long-term incentive could be a cash plan, equity plan or share plan.
Examples of types of LTIPs are stock options, cash, restricted stock, 401(k) retirement plans, and phantom stocks.
Cash-based LTIPs offer executives a guaranteed cash reward when certain performance targets are met, while equity-based LTIPs offer stock options or restricted stock units (RSUs) that align executives' interests with those of the company and its shareholders.
Long-term incentives, or LTI as they're often called, are a valuable part of a total compensation package both for delivering rewards and focusing employees on desired future outcomes and objectives.