20-162A 20-162A . . . Book Value Phantom Stock Plan under which Committee of Board of Directors may, from time to time, grant quantity of phantom shares to selected employees, each share being equivalent to one share of corporation common stock. Phantom shares may be exercised at any time within ten years of date of grant (subject to certain limitations in event of termination of employment) Upon exercise, employee is paid cash equal to increase in underlying net book value per share on fully diluted basis of shares between date of grant and date of exercise
Minnesota Book Value Phantom Stock Plan of First Florida Banks, Inc.
State:
Multi-State
Control #:
US-CC-20-162A
Format:
Word;
Rich Text
Instant download
Description
Free preview
How to fill out Book Value Phantom Stock Plan Of First Florida Banks, Inc.?
You are able to spend hours on the Internet attempting to find the legal record template that fits the federal and state requirements you will need. US Legal Forms offers a huge number of legal forms which are evaluated by professionals. You can easily acquire or print the Minnesota Book Value Phantom Stock Plan of First Florida Banks, Inc. from the support.
If you currently have a US Legal Forms bank account, it is possible to log in and click on the Obtain button. After that, it is possible to total, revise, print, or indicator the Minnesota Book Value Phantom Stock Plan of First Florida Banks, Inc.. Each and every legal record template you get is your own property permanently. To acquire an additional duplicate associated with a purchased type, proceed to the My Forms tab and click on the corresponding button.
If you are using the US Legal Forms site for the first time, adhere to the straightforward recommendations under:
- Initial, make certain you have selected the best record template for your county/city of your liking. Look at the type description to make sure you have selected the correct type. If offered, use the Preview button to check with the record template at the same time.
- If you want to find an additional variation from the type, use the Lookup industry to discover the template that meets your needs and requirements.
- Upon having located the template you desire, just click Purchase now to proceed.
- Pick the costs plan you desire, enter your accreditations, and sign up for a merchant account on US Legal Forms.
- Total the transaction. You can utilize your bank card or PayPal bank account to fund the legal type.
- Pick the file format from the record and acquire it to the device.
- Make alterations to the record if necessary. You are able to total, revise and indicator and print Minnesota Book Value Phantom Stock Plan of First Florida Banks, Inc..
Obtain and print a huge number of record web templates while using US Legal Forms Internet site, which offers the biggest selection of legal forms. Use skilled and state-specific web templates to tackle your small business or person requires.
Form popularity
FAQ
Phantom stock plans are considered ?liability awards? for accounting purposes (assuming they will be settled in cash rather than stock).
If a business is sold, employees that own phantom stock receive money that is equal to the amount they would have received had they owned actual stock in the company. For that reason, it's financially beneficial to employees to own phantom stock, as they don't need to worry about dilution.
Phantom stock plans are considered ?liability awards? for accounting purposes (assuming they will be settled in cash rather than stock). As such, the sponsoring company must recognize the plan expense ratably over the vesting period. Varying accrual schedules can be found in the market.
As a default, this form plan provides for forfeiture of all unvested phantom stock units upon a participant's termination of employment (subject to the terms of the award agreement).
A cash payment from Company A as the difference between the current common share price and phantom stock issue price: ($70 ? $50) x 500 = $10,000; or. A cash payment from Company A equal to the current common share price: $50 x 500 = $25,000.
Since the benefits of phantom stocks can only be contingent upon the company's performance or predetermined benchmarks, employees with phantom stocks will not get the cash payout if the company does not meet the benchmark. Phantom stocks cannot be freely traded or transferred.
The answer involves two variables: (a) the presumed value of the company, and (b) the number of shares to be used in the plan. Once these two answers are known, the phantom share price is calculated as the former (the value) divided by the latter (the number of shares).
Phantom shares are usually paid out when the company gets acquired or IPOes. The phantom shares are paid out in cash for their corresponding value.