The Oklahoma Stock Appreciation Right Plan of Helene Curtis Industries, Inc. is a unique compensation program designed to provide additional incentives to its employees. It allows eligible employees to share in the growth and success of the company through stock appreciation rights (SARS). This plan aims to motivate and retain talented individuals, aligning their financial interests with the company's long-term goals. The Oklahoma Stock Appreciation Right Plan offers two types of SARS: the Phantom Stock Appreciation Right and the Stock-Settled Appreciation Right. 1. Phantom Stock Appreciation Right: This type of SAR is a cash-settled incentive program that mimics the value and appreciation of the company's stock. Employees are granted hypothetical units, or phantom shares, equivalent to a predetermined number of actual shares. As the company's stock value increases, the employee receives a cash payment reflecting the appreciation in the value of their phantom shares. This type of SAR provides employees with a direct financial benefit without actually owning company stock. 2. Stock-Settled Appreciation Right: Unlike the Phantom Stock Appreciation Right, this type of SAR is settled in actual shares of the company's stock. Eligible employees are granted SARS, which represent the right to receive a specific number of shares at a future date. When the SARS vest, meaning they become exercisable, employees have the option to receive the shares directly or request a cash payout equivalent to the stock's value. This type of SAR aligns the employee's interests with the company's stock performance, as they directly benefit from any increase in stock value. The Oklahoma Stock Appreciation Right Plan of Helene Curtis Industries, Inc. is a valuable tool for attracting and retaining top talent. It offers employees the opportunity to participate in the company's growth, providing both financial rewards and a sense of ownership. By linking employee compensation to the performance of the company's stock, this plan encourages employees to contribute to the overall success of Helene Curtis Industries, Inc. while fostering a culture of long-term commitment and dedication.
Oklahoma Stock Appreciation Right Plan of Helene Curtis Industries, Inc.
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A SAR is very similar to a stock option, but with a key difference. When a stock option is exercised, an employee has to pay the grant price and acquire the underlying security. However, when a SAR is exercised, the employee does not have to pay to acquire the underlying security.
The company continued to grow, manufacturing products as varied as deodorant to skin creams, until 1996 when Helene Curtis was acquired by Unilever for $770 million.
Stock Appreciation Right (SAR) entitles an employee, who is a shareholder in a company, to a cash payment proportionate to the appreciation of stock traded on a public exchange market. SAR programs provide companies with the flexibility to structure the compensation scheme in a way that suits their beneficiaries.
Stock Appreciation Rights plans do not result in equity dilution because actual shares are not being transferred to the employee. Participants do not become owners. Instead, they are potential cash beneficiaries in the appreciation of the underlying company value.
How Do Stock Appreciation Rights Work? Stock Appreciation Rights are similar to Stock Options in that they are granted at a set price, and they generally have a vesting period and an expiration date. Once a SAR vests, an employee can exercise it at any time prior to its expiration.
However, when a stock appreciation right is exercised, the employee does not have to pay to acquire the underlying security. Instead, the employee receives the appreciation in value of the underlying security, which would equal the current market value less the grant price.