Mississippi Proposed book value phantom stock plan with appendices for First Florida Bank, Inc.
Description
How to fill out Proposed Book Value Phantom Stock Plan With Appendices For First Florida Bank, Inc.?
You may invest hours online searching for the lawful record template that meets the state and federal demands you will need. US Legal Forms offers thousands of lawful forms which are reviewed by specialists. It is simple to download or print the Mississippi Proposed book value phantom stock plan with appendices for First Florida Bank, Inc. from your assistance.
If you have a US Legal Forms account, you are able to log in and click on the Acquire button. Next, you are able to comprehensive, change, print, or indication the Mississippi Proposed book value phantom stock plan with appendices for First Florida Bank, Inc.. Every lawful record template you acquire is the one you have eternally. To acquire another version of the acquired develop, visit the My Forms tab and click on the related button.
If you work with the US Legal Forms web site the first time, adhere to the straightforward instructions beneath:
- Very first, ensure that you have selected the proper record template for the county/city of your liking. Read the develop description to make sure you have picked out the appropriate develop. If offered, take advantage of the Preview button to look with the record template too.
- If you wish to discover another variation in the develop, take advantage of the Search industry to obtain the template that suits you and demands.
- Upon having identified the template you would like, just click Buy now to proceed.
- Pick the pricing strategy you would like, type in your qualifications, and register for a free account on US Legal Forms.
- Total the deal. You should use your credit card or PayPal account to fund the lawful develop.
- Pick the format in the record and download it to the product.
- Make modifications to the record if necessary. You may comprehensive, change and indication and print Mississippi Proposed book value phantom stock plan with appendices for First Florida Bank, Inc..
Acquire and print thousands of record templates making use of the US Legal Forms website, that provides the most important collection of lawful forms. Use expert and state-particular templates to handle your small business or specific demands.
Form popularity
FAQ
Phantom stock is a contract between an employer and an employee that grants the employee the right to receive a payment based on the value of the employer's stock. When granting phantom stock, the employer does not grant the employee any shares of the employer's stock.
For example, capping the cash payment to a company share price limit of $50. If the issuing phantom stock price is $30, and the company's share price at redemption is $100, the cash payment per phantom stock would be capped at $50 ? $30 = $20.
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.
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 stock plans are considered ?liability awards? for accounting purposes (assuming they will be settled in cash rather than stock).
Payments from phantom stock plans are subject to typical income taxes, not capital gains taxes. In turn, companies can deduct phantom plan payouts the year the employee reports the income. Employers must ensure their plans follow federal laws in section 409A of the Internal Revenue Code (IRC).
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.
Phantom stock generally represents a company's unsecured and unfunded promise to make a payment to an employee or other service provider upon certain specified events (e.g., change in control or termination of employment) equal to the value of a specified number of shares of the company.