Long Term Performance and Restricted Stock Incentive Plan of Ipalco Enterprises, Inc.
What is this form?
The Long Term Performance and Restricted Stock Incentive Plan of Ipalco Enterprises, Inc. is a structured plan designed to offer key executives an incentive through performance-based compensation, specifically using restricted stock. This plan aims to align the interests of the company's executives with those of its shareholders by establishing performance measures and a peer comparison for determining share grants. Unlike standard stock option plans, this plan incorporates a performance period and conditions for share release, making it a targeted approach to executive compensation that fosters long-term company growth and retention of talent.
Key parts of this document
- Performance Measures: Defined benchmarks used to evaluate executive performance against peers.
- Eligibility Criteria: Key executives selected by the Compensation Committee who contribute significantly to the company's success.
- Share Grant Structure: Granting of shares based on a percentage of base salary during specified performance periods.
- Adjustment Procedures: Mechanisms in place to adjust share grants based on actual performance results.
- Restriction Terms: Conditions under which shares may be forfeited if employment is terminated before the restrictions lapse.
When to use this document
This form is necessary when Ipalco Enterprises, Inc. seeks to implement or modify its Long Term Performance and Restricted Stock Incentive Plan to provide incentives to its executives. Companies may refer to this form during annual meetings to secure shareholder approval or when adjustments to the performance measures need to be communicated to eligible executives. It is particularly relevant when aiming to enhance executive commitment to long-term company performance through stock awards tied to performance metrics.
Who needs this form
- Corporate executives of Ipalco Enterprises, Inc. who are eligible for participation in the plan.
- Members of the Compensation Committee responsible for administering the plan.
- Shareholders attending the company's annual meeting to vote on proposed changes to the plan.
How to prepare this document
- Identify the key executives to be included in the incentive plan.
- Determine the performance measurements that will define success during the performance period.
- Outline the percentage of base salary that corresponds to stock grants for each executive.
- Document timelines for performance assessment and share restrictions.
- Ensure shareholder approval through a vote at the annual meeting, reflecting any changes in the plan.
Notarization requirements for this form
Notarization is not commonly needed for this form. However, certain documents or local rules may make it necessary. Our notarization service, powered by Notarize, allows you to finalize it securely online anytime, day or night.
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Make edits, fill in missing information, and update formatting in US Legal Forms—just like you would in MS Word.
Download a copy, print it, send it by email, or mail it via USPS—whatever works best for your next step.
Sign and collect signatures with our SignNow integration. Send to multiple recipients, set reminders, and more. Go Premium to unlock E-Sign.
If this form requires notarization, complete it online through a secure video call—no need to meet a notary in person or wait for an appointment.
We protect your documents and personal data by following strict security and privacy standards.
Common mistakes to avoid
- Failing to clearly define performance measures, leading to confusion about executive eligibility for stock grants.
- Not updating the plan to reflect changes in corporate or legal requirements.
- Neglecting to obtain the necessary shareholder approvals which may invalidate the incentive plan.
Benefits of using this form online
- Convenience of accessing a standardized form that meets legal requirements without extensive legal knowledge.
- Streamlined editing allows for quick adjustments to specific terms and execution timelines.
- Trust in reliable source material that has been drafted by licensed attorneys, ensuring compliance.
