Pennsylvania Restricted Stock Plan of RPM, Inc.

• Category: Corporations - Public - Stock Options
• State: Multi-State
• Control #: US-CC-18-200A
• Format: Word; Rich Text

Description

18-200A 18-200A . . . Restricted Stock Plan under which (a) Compensation Committee determines those employees of corporation and subsidiaries who are eligible to receive awards of Restricted Shares, (b) Restricted Shares are forfeitable and nontransferable for specified period of time, (c) transfer restrictions remain in place until earliest of (i) later of either employee's termination of employment or lapse of forfeiture restrictions, (ii) change in control with respect to corporation, or (iii) termination of Plan. Restricted Shares are subject to compete forfeiture until earliest to occur of (i) later of either employee's attainment of age 55 or fifth anniversary of May 31st immediately preceding date on which Restricted Shares were awarded, (ii) retirement of employee on or after attainment of age 65, or (iii) change in control with respect to corporation

Pennsylvania Restricted Stock Plan of RPM, Inc. is a comprehensive employee benefit program offered by RPM, Inc., a leading company in the chemical industry. This plan encourages and rewards employee loyalty, dedication, and long-term commitment by providing an opportunity for employees to acquire stock ownership in the company. Under the Pennsylvania Restricted Stock Plan, eligible employees of RPM, Inc. are granted a specified number of restricted stock units (RSS) as part of their compensation package. This RSS is subject to certain restrictions and conditions, which are designed to ensure that employees are aligned with the long-term success of the company. One key aspect of the plan is that the RSS granted to employees are subject to a vesting schedule. This means that employees do not have immediate ownership rights to the stock units but rather earn them over a certain period of time or upon achieving predetermined milestones. The vesting schedule may vary depending on the employee's position, tenure, and job performance. Once the RSS are fully vested, employees have the opportunity to convert them into actual shares of RPM, Inc. stock. This allows employees to become shareholders of the company and participate in its growth and success. By having ownership in the company, employees not only benefit from potential capital appreciation but also have a vested interest in the company's overall performance. Additionally, the Pennsylvania Restricted Stock Plan may offer employees certain tax advantages. The RSS are generally taxed as ordinary income upon vesting. However, employees have the option to defer taxes on the RSS until the shares are sold, potentially allowing for a more favorable tax treatment. It is important to note that there may be different types or variations of the Pennsylvania Restricted Stock Plan within RPM, Inc. These variations may be tailored to specific groups of employees, such as executives or key contributors, and may have additional features or benefits. In summary, the Pennsylvania Restricted Stock Plan of RPM, Inc. is a valuable employee benefit program that promotes retention, aligns employee interests with company goals, and provides employees with the opportunity to share in the company's success. By offering employees ownership in the form of restricted stock units, RPM, Inc. aims to attract and retain top talent while fostering a sense of ownership and commitment throughout the organization.