New York 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 New York Long Term Performance and Restricted Stock Incentive Plan of INALCOL Enterprises, Inc. is a comprehensive compensation program designed to reward key employees for their commitment, performance, and long-term dedication to the organization. This plan aims to align the interests of executives with those of the company's shareholders, ensuring a sustainable and prosperous future for all stakeholders involved. Under this incentive plan, eligible employees are granted restricted stock units (RSS) that vest over time and are subject to certain performance criteria. RSS represents an ownership interest in the company and provide employees with the opportunity to share in the success and growth of INALCOL Enterprises. The plan utilizes a long-term performance framework where employees must meet specific performance targets over an extended period to unlock the full benefits of their RSS. Performance targets may include financial goals, such as revenue growth, earnings per share, or total shareholder return, as well as non-financial targets related to strategic initiatives, customer satisfaction, or employee engagement. The New York Long Term Performance and Restricted Stock Incentive Plan recognizes the importance of retaining top talent and motivating employees to drive sustained excellence. It includes provisions for retention grants that provide additional RSS to key employees who have demonstrated exceptional performance or possess critical skills vital to the company's success. These retention grants serve as a tool to enhance employee loyalty and reduce turnover. Different types of New York Long Term Performance and Restricted Stock Incentive Plans may exist within INALCOL Enterprises. These variations might include plan structures tailored for different employee levels, such as executive officers, senior management, or key professionals. Each plan is designed to accommodate the unique needs and expectations of employees at various levels in the organization, aligning their incentives appropriately. In conclusion, the New York Long-Term Performance and Restricted Stock Incentive Plan of INALCOL Enterprises, Inc. is a strategic and dynamic compensation program that aims to attract, retain, and motivate key talent through the issuance of RSS and performance-based incentives. By combining long-term performance goals and restricted stock awards, the plan encourages employees to actively contribute to the company's success while fostering a sense of ownership and alignment with shareholders.