Minnesota Restricted Stock Plan of RPM, Inc.

State:
Multi-State
Control #:
US-CC-18-200A
Format:
Word; 
Rich Text
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Description

18-200A 18-200A . . . Restricted Stock Plan under which (a) Compensation Committee determines those employees of corporation and subsidiaries who are eligible to receive awards of Restricted Shares, (b) Restricted Shares are forfeitable and nontransferable for specified period of time, (c) transfer restrictions remain in place until earliest of (i) later of either employee's termination of employment or lapse of forfeiture restrictions, (ii) change in control with respect to corporation, or (iii) termination of Plan. Restricted Shares are subject to compete forfeiture until earliest to occur of (i) later of either employee's attainment of age 55 or fifth anniversary of May 31st immediately preceding date on which Restricted Shares were awarded, (ii) retirement of employee on or after attainment of age 65, or (iii) change in control with respect to corporation
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FAQ

Restricted stocks are unregistered shares that are non-transferable for holders until they meet certain conditions. Well-established companies offer restricted stocks to company executives and directors as a form of equity compensation. Some restrictive conditions may be particular tenure or specific performance goals.

Restricted Stock. transfers share of stock to employees, subject to an agreement that the shares cannot be sold, transferred, or pledged until vesting occurs.

Restricted Stock Units cannot be sold or transferred while they are subject to forfeiture. This means that the employee cannot sell or transfer the units until they are vested.

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Minnesota Restricted Stock Plan of RPM, Inc.