20-162L 20-162L . . . Long Term Incentive Program For Senior Management under which Compensation Committee may award (a) stock appreciation rights and (b) performance share units. Performance share units entitle holder to receive cash payment equal to (i) average market price of one share of corporation common stock during December ("Measuring Month") in third calendar year following year in which award is made, plus (ii) aggregate dividends with respect to one share of corporation common stock from January 1 of year in which award is made until last day of Measuring Month. At maturity, number of units initially awarded shall be (i) multiplied by fraction that corresponds to average annual percentage increase or decrease in book value per share of corporation common stock over four year period prior to maturity, and (ii) then further adjusted based on ratio of market value of corporation common stock to its book value as compared to that of comparable electric utility companies
New Hampshire Long Term Incentive Program for Senior Management
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US-CC-20-162L
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FAQ
How does a long-term incentive plan work? An LTIP works by rewarding employees (usually senior employees) with cash or shares of company stock for meeting specific goals. The goals are usually long-term, running for 3-5 years to stimulate ongoing progress rather than a-few-months objectives.
Remuneration Value This is the target value to be provided in equity. In the case of LTI grants it is usually calculated as Base Package x Target LTI%. Thus, if an executive had a Base Package of $200,000 and the target LTI was set at 30% then the Remuneration Value would be $60,000.
Short-term incentives are typically tied to annual performance goals, while long-term incentives are designed to reward performance over a multi-year period.
term incentive plan (LTIP) is a company policy that rewards employees for reaching specific goals that lead to increased shareholder value. In a typical LTIP, the employee, usually an executive, must fulfill various conditions or requirements.
Long-term incentives, or LTI as they're often called, are a valuable part of a total compensation package both for delivering rewards and focusing employees on desired future outcomes and objectives.
Through LTIPs, a new long-term incentive can be granted to an employee every year, rather than a one-time incentive, similar to a holiday bonus.
LTI are typically granted with what is known as a vesting period. What this means is that grantees are conditionally granted equity, but they do not actually own it until the vesting period expires.
Long-term incentives are earned based on the achievement of goals over a longer period of time. The goals may be based on stock price or business performance. It's important to take a holistic approach to compensation ? if it's short- or long-term, cash vs.