North Dakota Long Term Performance and Restricted Stock Incentive Plan of Ipalco Enterprises, Inc.

• Category: Corporations - Public - Incentive Compensation Plans
• State: Multi-State
• Control #: US-CC-20-174D
• Format: Word; Rich Text

Description

20-174D 20-174D . . . Restricted Stock Incentive Plan under which Compensation Committee selects participants, determines number of shares of common stock covered by each grant, establishes appropriate performance measures, and chooses appropriate corporation peer group. The number of shares granted is equal to a percentage of participant's base salary for first calendar year of each three-year program. The base salary percentage target of first three-year grants range from 10% to 35%; maximum base salary grant permitted by Plan may not exceed 70% of participant's base salary. After end of a Performance Period, Committee determines adjustments, if any, that are required to be made to share grants for Performance Period based on actual results under Performance Measures (performance of corporation versus its peer group) for such Performance Period. After adjustments, restrictions on shares held by participant are lifted as to 1/3 on July 1 immediately following Performance Period and additional 1/3 increments on the first and second anniversaries of such July 1, provided participant is still employed by corporation on such date. If participant ceases to be employed by corporation before restrictions lapse on shares held by him or her, shares still subject to restrictions are immediately forfeited

The North Dakota Long Term Performance and Restricted Stock Incentive Plan is a comprehensive compensation program implemented by INALCOL Enterprises, Inc., a prominent company operating in North Dakota. This plan is designed to reward and motivate employees by linking their compensation to the long-term success and performance of the company. By providing both stock-based incentives and performance-based bonuses, the plan aims to align the interests of employees with those of the company's shareholders. Under this plan, employees are eligible to receive restricted stock units (RSS), which represent a certain number of shares in the company's stock. However, this RSS is subject to specific vesting requirements, thereby ensuring that employees remain with the company for a certain period and effectively contribute to its long-term growth and stability. The North Dakota Long Term Performance and Restricted Stock Incentive Plan of INALCOL Enterprises, Inc. includes multiple types of awards that employees can earn based on their performance and tenure with the company: 1. Performance Stock Units (Plus): These units are awarded to employees based on predefined performance criteria, such as financial targets, customer satisfaction, or strategic goals. The number of Plus granted to an employee depends on the level of achievement against these metrics. Once earned, Plus vest over a specific period, incentivizing employees to remain proactive in achieving company objectives. 2. Restricted Stock Awards (SAS): These awards offer employees the opportunity to acquire shares of the company's stock at a predetermined price, generally below market value. SAS may vest over time or upon achieving certain performance targets, ensuring employees are aligned with the company's long-term growth and success. 3. Stock Appreciation Rights (SARS): SARS are granted to employees and provide them with the right to receive the appreciation in the stock value over a specific period. Employees can exercise their SARS at the end of the vesting period, taking advantage of any increase in the stock's value. 4. Performance Bonuses: In addition to stock-based incentives, the plan also includes performance bonuses as part of the overall compensation package. These bonuses are contingent on meeting predetermined performance goals, such as revenue growth, cost reduction, or operational efficiencies. The North Dakota Long Term Performance and Restricted Stock Incentive Plan of INALCOL Enterprises, Inc. aims to attract, retain, and motivate top talent by offering a comprehensive compensation package that aligns employee interests with the company's long-term objectives. Through the utilization of RSS, Plus, SAS, SARS, and performance bonuses, the plan encourages active employee participation in driving the company's growth and financial success, ultimately benefiting both the employees and the shareholders.