Mississippi Phantom Stock Plan of Hercules, Inc.
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How to fill out Phantom Stock Plan Of Hercules, Inc.?
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FAQ
Holders of phantom stock have no choice over when they receive their cash settlement. They have to wait for a liquidity event, when phantom stock holders are usually 'cashed out' automatically. In contrast, people who hold shares as part of an ESOP can elect when to cash out.
Phantom shares usually get liquid when the company gets acquired or goes public or if the company decides to do a buyback. Any gains from the assets must be reported to tax authorities as ordinary income upon vesting.
However, phantom stocks come with a considerable amount of disadvantages that can diminish participants' perceived control and influence, strain company liquidity, require extensive administrative efforts, introduce tax complexities, create disagreements, and subject participants to volatility in financial benefits ...
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).
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.
Summary. A phantom stock plan refers to a type of deferred employee compensation plan where plan participants benefit from the upside of a company's share price without actually receiving company shares. In a phantom stock plan, upon redemption of phantom stock, the plan participant receives cash compensation.
On redemption, in a phantom stock plan, the plan participant receives a cash payment. This is in comparison to a stock option plan, where the plan participant receives common stock. As a result, a phantom stock plan allows the participant to reap the benefits of an increasing share price without shareholder dilution.
Providing phantom stock allows the company to reward employees for their hard work without worrying about those big problems. Phantom shares are typically used to encourage senior leadership to produce better results for the company.
