20-162L 20-162L . . . Long Term Incentive Program For Senior Management under which Compensation Committee may award (a) stock appreciation rights and (b) performance share units. Performance share units entitle holder to receive cash payment equal to (i) average market price of one share of corporation common stock during December ("Measuring Month") in third calendar year following year in which award is made, plus (ii) aggregate dividends with respect to one share of corporation common stock from January 1 of year in which award is made until last day of Measuring Month. At maturity, number of units initially awarded shall be (i) multiplied by fraction that corresponds to average annual percentage increase or decrease in book value per share of corporation common stock over four year period prior to maturity, and (ii) then further adjusted based on ratio of market value of corporation common stock to its book value as compared to that of comparable electric utility companies
Virginia Long Term Incentive Program for Senior Management
State:
Multi-State
Control #:
US-CC-20-162L
Format:
Word;
Rich Text
Instant download
Description
Free preview
How to fill out Long Term Incentive Program For Senior Management?
If you wish to comprehensive, obtain, or printing authorized document themes, use US Legal Forms, the most important variety of authorized forms, which can be found on the web. Make use of the site`s simple and easy handy look for to discover the files you require. Various themes for organization and individual uses are sorted by classes and claims, or keywords and phrases. Use US Legal Forms to discover the Virginia Long Term Incentive Program for Senior Management in just a number of mouse clicks.
When you are currently a US Legal Forms consumer, log in for your accounts and click the Down load key to have the Virginia Long Term Incentive Program for Senior Management. You can even entry forms you formerly delivered electronically from the My Forms tab of your accounts.
If you are using US Legal Forms the first time, follow the instructions below:
- Step 1. Be sure you have chosen the shape for the right area/region.
- Step 2. Utilize the Preview choice to check out the form`s content. Do not neglect to read the information.
- Step 3. When you are unhappy with the develop, use the Lookup field at the top of the screen to find other variations from the authorized develop template.
- Step 4. After you have identified the shape you require, click the Get now key. Choose the pricing plan you prefer and add your references to register to have an accounts.
- Step 5. Approach the transaction. You can use your bank card or PayPal accounts to complete the transaction.
- Step 6. Pick the structure from the authorized develop and obtain it on your gadget.
- Step 7. Full, edit and printing or indicator the Virginia Long Term Incentive Program for Senior Management.
Every authorized document template you get is your own permanently. You may have acces to each develop you delivered electronically in your acccount. Select the My Forms segment and choose a develop to printing or obtain once again.
Remain competitive and obtain, and printing the Virginia Long Term Incentive Program for Senior Management with US Legal Forms. There are thousands of specialist and condition-specific forms you may use for your organization or individual demands.
Form popularity
FAQ
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.
LTI are typically granted with what is known as a vesting period. What this means is that grantees are conditionally granted equity, but they do not actually own it until the vesting period expires.
Long-term incentives are earned based on the achievement of goals over a longer period of time. The goals may be based on stock price or business performance. It's important to take a holistic approach to compensation ? if it's short- or long-term, cash vs.
Long-term incentives, or LTI as they're often called, are a valuable part of a total compensation package both for delivering rewards and focusing employees on desired future outcomes and objectives.
Remuneration Value This is the target value to be provided in equity. In the case of LTI grants it is usually calculated as Base Package x Target LTI%. Thus, if an executive had a Base Package of $200,000 and the target LTI was set at 30% then the Remuneration Value would be $60,000.
How does a long-term incentive plan work? An LTIP works by rewarding employees (usually senior employees) with cash or shares of company stock for meeting specific goals. The goals are usually long-term, running for 3-5 years to stimulate ongoing progress rather than a-few-months objectives.
A MIP can be either an equity incentive plan or a cash incentive plan. It doesn't always have to result in a company giving away equity, as certain factors may preclude them from doing so. Cash-based plans usually involve either a cash bonus, pension contribution or shadow equity.
Criteria to Determine LTI Eligibility The most common criteria used to determine whether an employee is eligible for long-term incentives is job level. Individual employee performance, salary grade/level and job title are also frequently used as factors to determine eligibility for LTI awards.
Interesting Questions
More info
Aug 4, 2023 — Long Term Incentive Plans are plans to retain employees by rewarding them to reach certain performance targets or goals. The targets or goals ... Step 5 – Administer your plan​​ LTIP administration is a complex and ongoing process.The employee must provide proof of enrollment in an Invest 529 account with the Virginia 529 program. ... Budget Implications consider the short and long-term ... A recruitment incentive may be paid to an eligible individual who is appointed to a General Schedule (GS), senior-level (SL), scientific or professional (ST), ... Introduction to Long Term Incentive Plans. For the past 25 years, long-term incentive plans have been a sizeable component of the compensation packages at the ... Funding for each net new full-time job created or full-time employee retrained is based on a customized budget determined by an assessment of the company's ... A hiring incentive bonus is available to new full-time and part-time General ... A class that is difficult to fill is one that has taken a very long time to ... To discuss your goals and concerns with a business planning attorney, please call us at (571) 410-3500 or complete our online contact form. With offices in ... The purpose of the Long Term Cash Incentive Plan (the Plan) is twofold: (1) To reward key senior managers for their performance for their contribution to ... Jun 19, 2020 — Using an Employee Stock Ownership Plan (ESOP), businesses can incentivize the next generation of leaders and align the interests of these ...