Utah Long Term Performance and Restricted Stock Incentive Plan of Ipalco Enterprises, Inc.

• Category: Corporations - Public - Incentive Compensation Plans
• State: Multi-State
• Control #: US-CC-20-174D
• Format: Word; Rich Text

Description

20-174D 20-174D . . . Restricted Stock Incentive Plan under which Compensation Committee selects participants, determines number of shares of common stock covered by each grant, establishes appropriate performance measures, and chooses appropriate corporation peer group. The number of shares granted is equal to a percentage of participant's base salary for first calendar year of each three-year program. The base salary percentage target of first three-year grants range from 10% to 35%; maximum base salary grant permitted by Plan may not exceed 70% of participant's base salary. After end of a Performance Period, Committee determines adjustments, if any, that are required to be made to share grants for Performance Period based on actual results under Performance Measures (performance of corporation versus its peer group) for such Performance Period. After adjustments, restrictions on shares held by participant are lifted as to 1/3 on July 1 immediately following Performance Period and additional 1/3 increments on the first and second anniversaries of such July 1, provided participant is still employed by corporation on such date. If participant ceases to be employed by corporation before restrictions lapse on shares held by him or her, shares still subject to restrictions are immediately forfeited

The Utah Long Term Performance and Restricted Stock Incentive Plan of INALCOL Enterprises, Inc. is a comprehensive compensation program designed to reward and incentivize employees based on their long-term performance and commitment. This plan provides an opportunity for eligible employees to receive stock-based incentives that can be earned and redeemed over an extended period. Under this plan, employees are offered restricted stock units (RSS) as performance incentives. RSS are grants of company stock that vest over a specified period, encouraging and aligning employee efforts with the long-term goals and success of INALCOL Enterprises, Inc. RSS are subject to certain restrictions, such as vesting schedules and performance goals, ensuring that employees are continually motivated to contribute to the company's growth and profitability. The primary objective of the Utah Long Term Performance and Restricted Stock Incentive Plan is to attract, retain, and motivate high-performing employees by linking their compensation directly to INALCOL Enterprises, Inc.'s performance. By offering equity-based incentives, the plan aligns the interests of employees with those of the company, fostering a sense of ownership and commitment to long-term success. The plan may have different variations and types, tailored to various roles and levels within the organization. For instance, there may be specific plans designed for executives, senior management, or employees in critical positions. These targeted plans reflect differences in compensation, performance metrics, and vesting schedules, aiming to align incentives with the unique responsibilities and contributions of each employee category. Keywords: Utah Long Term Performance and Restricted Stock Incentive Plan, INALCOL Enterprises, Inc., compensation program, stock-based incentives, restricted stock units, RSS, vesting schedules, performance goals, growth and profitability, attract, retain, motivate, high-performing employees, equity-based incentives, ownership, commitment, executives, senior management, critical positions.