Title: Oregon Proposed Book Value Phantom Stock Plan with Appendices for First Florida Bank, Inc.: A Comprehensive Overview Introduction: In this detailed description, we will provide an in-depth analysis of the Oregon Proposed Book Value Phantom Stock Plan with appendices specifically formulated for First Florida Bank, Inc. This plan offers a unique framework for compensating executives and employees based on the bank's book value. We will explore the key features and benefits of this plan, as well as its potential variations. Here, we offer relevant keywords to further enhance the understanding of this topic. Keywords: Oregon Proposed Book Value Phantom Stock Plan, Appendices, First Florida Bank, Inc. 1. Overview of the Oregon Proposed Book Value Phantom Stock Plan: The Oregon Proposed Book Value Phantom Stock Plan is an innovative compensation structure designed to align the interests of executives and employees with the financial performance of First Florida Bank, Inc. This plan provides incentives tied to the growth in the bank's book value, fostering a sense of ownership and motivation among participants. Keywords: Compensation structure, executives, employees, financial performance, incentives 2. Benefits of the Oregon Proposed Book Value Phantom Stock Plan: a. Performance-based incentives: The plan encourages executives and employees to enhance the bank's book value, leading to improved financial performance and organizational growth. Keywords: Performance-based incentives, financial performance, organizational growth b. Retention and attraction of top talent: By offering a unique compensation structure, the plan can attract talented individuals to join First Florida Bank, Inc. and retain existing high-performing employees. Keywords: Retention, attraction, top talent c. Financial planning and security: Participants of the plan gain access to potential financial rewards, enhancing their financial security and planning for the future. Keywords: Financial planning, security, potential rewards 3. Appendices in the Proposed Book Value Phantom Stock Plan: The appendices accompanying the Oregon Proposed Book Value Phantom Stock Plan provide additional details and information. There can be various types of appendices, such as: a. Definitions and interpretations: Appendix A may include a glossary of terms used within the plan, ensuring clarity and consistency for all participants. Keywords: Appendix A, definitions, interpretations, glossary b. Share vesting schedule: Appendix B outlines the timeline for the vesting of phantom shares, indicating when employees or executives can exercise their ownership rights. Keywords: Appendix B, share vesting schedule, phantom shares, ownership rights c. Tax implications: Appendix C focuses on the tax implications of participating in the plan, providing guidance to ensure compliance with relevant tax regulations. Keywords: Appendix C, tax implications, compliance, tax regulations d. Performance metrics and evaluations: Appendix D may specify the performance metrics used to evaluate the growth in book value and determine the rewards. Keywords: Appendix D, performance metrics, evaluations, book value growth, rewards determination Conclusion: The Oregon Proposed Book Value Phantom Stock Plan, with its accompanying appendices, enables First Florida Bank, Inc. to incentivize and reward executives and employees based on the bank's book value. This comprehensive compensation structure promotes performance-driven growth, talent retention, and financial security. By properly understanding the proposed plan and utilizing the relevant appendices, First Florida Bank, Inc. can construct a robust and effective compensation system. Keywords: Compensation structure, growth, talent retention, financial security
Oregon Proposed book value phantom stock plan with appendices for First Florida Bank, Inc.
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A cash payment from Company A as the difference between the current common share price and phantom stock issue price: ($70 ? $50) x 500 = $10,000; or. A cash payment from Company A equal to the current common share price: $50 x 500 = $25,000.
Phantom stock plans are considered ?liability awards? for accounting purposes (assuming they will be settled in cash rather than stock). As such, the sponsoring company must recognize the plan expense ratably over the vesting period. Varying accrual schedules can be found in the market.
As a default, this form plan provides for forfeiture of all unvested phantom stock units upon a participant's termination of employment (subject to the terms of the award agreement).
Phantom stock plans are considered ?liability awards? for accounting purposes (assuming they will be settled in cash rather than stock).
The definition of Exit Event used in this form phantom plan complies with Section 409A as the plan is designed so that awards are settled upon an Exit Event or, if earlier, a termination of a participant's employment, which is also a permissible payment event for purposes of Section 409A.
The answer involves two variables: (a) the presumed value of the company, and (b) the number of shares to be used in the plan. Once these two answers are known, the phantom share price is calculated as the former (the value) divided by the latter (the number of shares).
For example, capping the cash payment to a company share price limit of $50. If the issuing phantom stock price is $30, and the company's share price at redemption is $100, the cash payment per phantom stock would be capped at $50 ? $30 = $20.
If a business is sold, employees that own phantom stock receive money that is equal to the amount they would have received had they owned actual stock in the company. For that reason, it's financially beneficial to employees to own phantom stock, as they don't need to worry about dilution.