Examples of Average Fair Market Value in a sentence
As of the end of each quarter, a Participant’s Stock Unit Account shall be credited with additional Units in an amount equal to the Dividend Equivalent representing dividends paid during the quarter on a number of shares equal to the aggregate number of Stock Units in the Participant’s Stock Unit Account as of the end of the preceding quarter divided by the Average Fair Market Value of a share of Common Stock as of the applicable crediting date.
In lieu of fractional shares, the Company shall pay therefor, at the time of any conversion of shares of Series C Preferred Stock as herein provided, an amount in cash equal to such fraction multiplied by the Average Fair Market Value of a share of Class A Common Stock on such date.
The Corporation shall satisfy state or federal income tax withholding obligations, if any, arising upon distribution of a Director's accounts by reducing the number of shares of Common Stock otherwise deliverable to the Director by the appropriate number of shares (based on the Average Fair Market Value) required to satisfy such tax withholding obligation.
The Committee by declaration may accelerate any payment date (using for valuation purposes the Average Fair Market Value as of the date of its decision) in extraordinary circumstances where it determines that such action is necessary or advisable to prevent a forfeiture or permit the realization of intended benefits and is otherwise fair to the Participant and the Company.
Payment of Performance Awards may be in cash or in shares of Common Stock valued at Fair Market Value or Average Fair Market Value on the date of payment, or a combination of Common Stock and cash, as the Committee in its discretion may determine.