The Virginia Officer Long Term Incentive Compensation Plan (OLT ICP) is a program implemented by Southern California Edison Co. (SHE) to provide long-term incentives and rewards for its officers based in Virginia. This plan aims to attract, retain and motivate talented individuals by linking their compensation to the company's performance and long-term objectives. Under the Virginia OLT ICP, officers are eligible to receive various forms of compensation based on their performance and the performance of SHE. These incentives are designed to align the interests of the officers with the company's shareholders and encourage them to contribute towards SHE's long-term success. The Virginia Officer Long Term Incentive Compensation Plan includes several types of compensation components, which may vary depending on the officer's position within the organization and their individual performance. Some of these plan components may include: 1. Performance Shares: Officers may be granted performance shares, which represent a specific number of SHE's common shares that are subject to performance-based vesting conditions. The number of shares granted is determined based on the officer's performance and predetermined performance goals set by the company. 2. Stock Options: The plan may also include stock options, allowing officers to purchase SHE's common shares at a predetermined price within a specified period. This provides the opportunity for officers to benefit from the potential appreciation of SHE's stock price. 3. Restricted Stock Units (RSS): Officers may be awarded RSS, which represent the right to receive shares of SHE's common stock in the future. RSS typically vest over a specific period, providing a long-term incentive for officers to remain with the company. 4. Cash Bonuses: In addition to equity-based incentives, officers participating in the Virginia OLT ICP may be eligible for cash bonuses based on their individual and company performance. These bonuses may be subject to predetermined performance goals and may vary annually. It is important to note that the specific details and terms of the Virginia Officer Long Term Incentive Compensation Plan may vary and are subject to the company's discretion and governance practices. The plan is designed to attract, retain, and motivate officers in Virginia while aligning their interests with the long-term success of Southern California Edison Co.
Virginia Officer Long Term Incentive Compensation Plan for Southern California Edison Co.
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How to fill out Virginia Officer Long Term Incentive Compensation Plan For Southern California Edison Co.?
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How much does a Vice President make at Southern California Edison in the United States? The estimated average pay for Vice President at this company in the United States is $136,420 per year, which is 8% below the national average.
Incentive compensation is a form of variable compensation in which a salesperson's (or other employee's) earnings are directly tied to the amount of product they sell, the success of their team, or the organization's success.
Average Southern California Edison Manager yearly pay in the United States is approximately $117,344, which is 64% above the national average.
term incentive plan (LTIP) is a company policy that rewards employees for reaching specific goals that lead to increased shareholder value. In a typical LTIP, the employee, usually an executive, must fulfill various conditions or requirements.
The median estimated compensation for executives at Southern California Edison including base salary and bonus is $203,470, or $97 per hour. At Southern California Edison, the most compensated executive makes $652,000, annually, and the lowest compensated makes $65,000.
term incentive plan (LTIP or LTI plan) is a deferred compensation strategy to attract, reward and motivate your employees, while also helping your company to retain valued talent and grow. LTIP prevalence: 98% of public companies provide LTIPs while 63% of private companies offer LTIPs. ( Source: SHRM)
Through LTIPs, a new long-term incentive can be granted to an employee every year, rather than a one-time incentive, similar to a holiday bonus.
The estimated total pay for a Director at Southern California Edison is $253,348 per year.
Long-term incentive programs allow companies to set up time- or performance-based vesting requirements as well. Time-based vesting requires the executive to provide future services to receive the benefit. For example, they must be employed three years from the date of grant to receive the payment.
Compensation by Company Name And TitleTotal CashTotal CompensationMaria Rigatti EIX EVP and CFOTotal Cash $1,493,685Total Compensation $3,423,066Steven D. Powell SCE President and CEOTotal Cash $1,241,175Total Compensation $2,791,218Caroline Choi EIX and SCE SVPTotal Cash $831,458Total Compensation $1,601,9992 more rows