The Utah Stock Appreciation Right (SAR) Plan of Helene Curtis Industries, Inc. is a unique compensation program designed to incentivize and reward employees through the appreciation of company stock. This plan offers employees the opportunity to benefit financially as the value of company stock increases over time. Under the Utah SAR Plan, eligible employees are granted stock appreciation rights, which are essentially the right to receive an amount equal to the appreciation in the value of a specified number of company shares. This appreciation is measured from the grant date to the exercise date of the SAR. It provides employees with a valuable financial incentive tied directly to the success and growth of the company. One of the key advantages of the Utah SAR Plan is that it aligns the interests of employees with the shareholders of Helene Curtis Industries, Inc. It encourages employees to contribute to the company's long-term success, as they directly benefit from any increase in the stock price. This fosters a sense of ownership and motivates employees to perform at their best, ultimately driving the company's growth and profitability. There are different types of SAR plans within the broader Utah SAR Plan, offering varying eligibility criteria and exercise periods. These may include: 1. Standard SAR Plan: Employees are granted stock appreciation rights, and they can exercise these rights after a specific vesting period. The exercise period may vary, typically ranging from a few years to several years. 2. Performance-based SAR Plan: This plan incorporates specific performance metrics that employees must meet to be eligible to exercise their stock appreciation rights. These metrics may include individual, team, or company-wide goals, ensuring that the company's growth objectives are met before employees can reap the benefits. 3. Restricted Stock SAR Plan: In this type of plan, employees are granted restricted stock units (RSS) instead of stock appreciation rights directly. This RSS convert into actual company shares after a predetermined time frame or upon achieving specific performance objectives. It is important to note that the specifics of the Utah Stock Appreciation Right Plan of Helene Curtis Industries, Inc. may vary, and employees should refer to official documentation, including the plan's terms and conditions, for comprehensive and accurate information.
Utah Stock Appreciation Right Plan of Helene Curtis Industries, Inc.
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For purposes of financial disclosure, you may value a stock appreciation right based on the difference between the current market value and the grant price. This formula is: (current market value ? grant price) x number of shares = value.
The rights are valued once, divided evenly over the vesting period and marked as rights paid in capital. For example, a company that issues $5,000 in rights with a five-year vesting period would debit compensation expense for $1,000 and credit rights paid in capital for $1,000 once a year for five years.
If you receive net shares and sell them at a later point, the appreciation in value of the shares from the time of exercise to the time of sale will be treated as a capital gain or loss. Whether it is a long-term or short-term gain or loss will depend on how long the shares are held.
SARs are taxed the same way as non-qualified stock options (NSOs). There are no tax consequences of any kind on either the grant date or when they are vested. However, participants must recognize ordinary income on the spread at the time of exercise. 2 Most employers will also withhold supplemental federal income tax.
In February 1996, Helene Curtis agreed to be acquired by Unilever for about $770 million. In contract law, the company is known for the 1963 case Helene Curtis Industries, Inc. v.
Helene Curtis, which was controlled by the Gidwitz family until it was sold to Unilever for $910 million in 1996, has been manufacturing at the 92-year-old facility since the late 1940s, ing to a Unilever spokesman.
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.