GPS: Performance Awards
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There has been a recent explosion in the use of performance awards. Even when performance awards represent only a fraction of the total outstanding equity compensation, their unique aspects present a host of administrative challenges, financial reporting issues, and communication concerns. This publication, produced by the Certified Equity Professional Institute (CEPI) at Santa Clara University and distributed by the NCEO, is part of the CEPI's GPS (Guidance, Procedures, Systems) series. It gives stock plan professionals much-needed guidance about the unique aspects of performance awards and how those issues must be addressed in administration, employee communication, and financial reporting. Offering very specific and practical guidance and reading almost like a primer on managing performance plans, this publication is a comprehensive resource for companies presently offering performance awards and a must-read for companies considering performance awards.
Format: Perfect-bound book, 68 pages
Dimensions: 8.5 x 11 inches
Edition: 1st (December 2010)
Performance and Service Period
Tax and Payroll Issues
Change of Employment Status
6.1. Overview of Performance and Service Period.6.1.1. After a performance award is granted, the performance conditions and market conditions must be tracked. In addition the requisite service period must be monitored. Frequent employee communication during the performance and service period reinforces the potential benefits of the award. At the end of the performance and service period, the performance results are certified and the award vests (to the extent the performance conditions, market conditions, and service period are met). In the case of a PSU, the payout of shares may be immediate or deferred. In the case of a PSA, the payout of shares is usually immediate. In the case of PSOs, the vested award may be exercised at the discretion of the employee and subject to the terms of the award.