The Kansas Officer Long Term Incentive Compensation Plan is a comprehensive reward system designed specifically for key executives serving at Southern California Edison Co. The plan aims to motivate top-tier officers by offering long-term incentives beyond their base salary. Under this plan, Kansas officers are eligible to receive additional compensation based on their individual performance and the company's overall success. The program is structured to align the interests of the executives with the long-term goals and objectives of Southern California Edison Co. This ensures that the officers are incentivized to drive continuous growth and enhance shareholder value. Keywords: Kansas Officer Long Term Incentive Compensation Plan, Southern California Edison Co., executives, reward system, long-term incentives, base salary, individual performance, company's success, interests alignment, goals, objectives, growth, shareholder value. Different Types of Kansas Officer Long Term Incentive Compensation Plan: 1. Performance-Based Stock Options: This type of plan offers Kansas officers the opportunity to receive stock options based on the achievement of predetermined performance targets. The stock options are usually granted at a predetermined exercise price and can be exercised at a later date. 2. Restricted Stock Units (RSS): In this plan, Kansas officers are awarded RSS that represent a specific number of shares of Southern California Edison Co.'s stock. These units are subject to a vesting schedule, which means that officers must remain with the company for a certain period before they can receive the shares. 3. Performance Share Units (Plus): Plus are similar to RSS, but the number of shares awarded to Kansas officers depends on the company's performance against predetermined goals or key performance indicators (KPIs). The Plus usually vest over a multi-year period, incentivizing officers to focus on long-term success rather than short-term gains. 4. Cash Bonuses: Alongside equity-based incentives, the Kansas Officer Long Term Incentive Compensation Plan may also include cash bonuses tied to individual or company performance. These bonuses can provide immediate financial rewards to officers based on achieving specified targets or milestones. 5. Deferred Compensation Plans: Some Kansas officers may have the option to defer a portion of their annual compensation, including base salary and bonuses, into a separate account. These funds are typically invested and can accumulate earnings over time. Deferred compensation plans provide officers with a tax-advantaged means to supplement their retirement savings. By implementing various types of incentives within the Kansas Officer Long Term Incentive Compensation Plan, Southern California Edison Co. aims to retain top talent, drive high-performance outcomes, and ensure alignment between officer interests and company growth objectives.
Kansas Officer Long Term Incentive Compensation Plan for Southern California Edison Co.
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A typical executive compensation package has financial and non-financial components. They are salary, benefits, bonuses and equity. Commonly, an executive would get more amount of equity than a normal worker and a normal worker quite often wouldn't get any equity in a private company.
LTI Bonus Compensation means all amounts awarded to a Participant under the Company LTI (Long Term Incentive) Plan that the Company determines to be eligible as compensation for purposes of the Plan.
Incentive compensation is a form of variable compensation in which a salesperson's (or other employee's) earnings are directly tied to the amount of product they sell, the success of their team, or the organization's success.
The median estimated compensation for executives at Southern California Edison including base salary and bonus is $203,470, or $97 per hour. At Southern California Edison, the most compensated executive makes $652,000, annually, and the lowest compensated makes $65,000.
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.
Long-term incentives are usually provided to induce an executive to achieve results over a period of longer than one year. Often, they are paid in stock. Sometimes executives receive a balance of short- and long-term variable compensation.
Through LTIPs, a new long-term incentive can be granted to an employee every year, rather than a one-time incentive, similar to a holiday bonus.
An annual incentive plan is a plan for compensation that is earned and paid based upon the achievement of performance goals over a one-year period. These plans motivate performance and align executives' work with the company's short-term performance goals.