20-270 20-270 . . . Executive Incentive Plan under which corporation can award restricted stock and units. Restricted stock consists of common stock of corporation which contains restrictions on transfer and forfeiture in event of termination of employment prior to expiration of time period specified in grant. units are equivalent of corporation's book value per share and are issued and credited on corporation's books to employees on condition that said units must be resold to corporation. Corporation must purchase units at end of 5 year incentive period or upon termination of employment (whichever comes first) for amount equivalent to book value at that time plus dividends declared during incentive period and less book value on date of grant
North Dakota Executive Incentive Plan
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US-CC-20-270
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FAQ
North Dakota's government first proposed the Legacy Fund in 2008. Following a statewide vote approving a constitutional amendment, it was established in 2010 to save a portion of oil and gas revenue windfalls from the development of the Parshall Oil Field.
North Dakota owns more than it owes. North Dakota's Taxpayer Surplus? is $47,400, and it received an "A" from TIA. North Dakota is a Sunshine State with enough assets to cover its debt.
Legacy fundraising is the practice of asking individuals to leave a gift to a charity in their Will. Legacies can be a sensitive issue for individuals and their families.
The legacy fund was established to ensure that the financial windfall gained from the Bakken Oil Boom would benefit the state in the long-run, even if oil prices collapse.
The 2023-25 biennium compensation adjustments for permanent state employees are to average 6 percent per eligible employee for the first fiscal year of the biennium and are to average 4 percent per eligible employee for the second year of the biennium.
When all 53 counties in North Dakota were considered, 11 reported average weekly wages of less than $850, 19 registered wages from $850 to $999, 11 had wages from $1,000 to $1,149, and 12 had average weekly wages of $1,150 or higher.
Ing to NASBO, North Dakota's recent expenditure totals (general fund spending/total spending, including federal transfers) were: FY 2022: $2.2 billion/$7.2 billion. FY 2021: $2.3 billion/$8.6 billion. FY 2020: $2.3 billion/$7.1 billion.
A Legacy Fund will make gifts to a donor's preferred charity or cause, in perpetuity or for a specific number of years. Contributions can be made during the donor's lifetime, or through a charitable bequest or other planned gift.