Wisconsin Restricted Stock Plan of Sundstrand Corp.

• Category: Corporations - Public - Incentive Compensation Plans
• State: Multi-State
• Control #: US-CC-20-171D
• Format: Word; Rich Text

Description

20-171D 20-171D . . . Restricted Stock Plan under which a committee of Board of Directors sells shares of common stock to certain officers and senior employees at a price substantially below current market price. The shares are subject to following restrictions: (a) prohibition against any sale or other transfer and (b) obligation that participant (at corporation's option) must resell shares to corporation at price he paid for them if he ceases to be employed by corporation prior to expiration of from five to nine years after shares were sold to him, for reasons other than normal retirement, death, total disability or early retirement with consent of Board or committee. Except as otherwise provided, restrictions lapse as to 1/5 of aggregate number of participant's shares at expiration or each of fifth through ninth years after his purchase of such shares

The Wisconsin Restricted Stock Plan of Bandstand Corp. is a comprehensive employee benefit program designed to incentivize and reward employees based in the state of Wisconsin. It allows eligible employees to receive shares of the company's stock as a form of compensation or bonus. The plan is subject to specific restrictions and regulations outlined by the state of Wisconsin. Under this plan, employees are granted a specified number of shares of Bandstand Corp. stock. However, unlike ordinary shares, these restricted shares are subject to certain restrictions and conditions before they can be fully owned by the employee. These restrictions are put in place to ensure that the employees remain with the company for a specified period or achieve certain performance targets. The Wisconsin Restricted Stock Plan not only offers financial benefits to employees but also aligns their interests with the long-term success of Bandstand Corp. Employees have a vested interest in the company's performance as the value of their shares increases with the company's growth and profitability. Several types of Wisconsin Restricted Stock Plans may be available under Bandstand Corp., tailored to meet the varying needs of different employee groups or job levels. These plans may include: 1. Executive Restricted Stock Plan: This plan is designed specifically for top-level executives within the organization, providing them with substantial stock-based incentives to drive strategic decision-making and overall corporate performance. 2. Employee Stock Option Plan: This plan grants employees the right to purchase a specific number of company shares at a predetermined price within a specified time frame. It serves as a flexible tool to attract and retain talent by offering potential future gains. 3. Performance-Based Restricted Stock Plan: This plan links the issuance of restricted stock to the achievement of predefined performance targets. It motivates employees to excel in their respective roles and contribute to the company's growth. 4. Director Restricted Stock Plan: Exclusive to members of Bandstand Corp.'s Board of Directors, this plan provides directors with shares as a form of compensation for their guidance and governance responsibilities. It's important to note that the specifics of each Wisconsin Restricted Stock Plan may vary, and employees are advised to review the plan documentation and consult with HR or plan administrators to fully understand the features, vesting schedules, and potential tax implications associated with the plan.