Adjustment of Base Grant for Total Shareholder Return. Fifty percent (50%) of the Base Grant will increase or decrease based upon the Company’s “Total Shareholder Return” as compared to the Total Shareholder Return of the companies in the Growth Index during the Performance Period, as follows: If the Company’s Total Shareholder Return Over The Performance Period As Compared to the Total Shareholder Return of the Companies in the Growth Index is: The Number of Performance Shares will be: 90th Percentile or greater 1.0 X Base Grant 75th Percentile .75 X Base Grant 50th Percentile 0.5 X Base Grant 25th Percentile 0.25 X Base Grant Less than 25th Percentile None If intermediate percentiles are achieved, the number of Performance Shares awarded will be prorated (partial shares will be rounded down to the nearest whole share when applicable). For example, if the Company’s Total Shareholder Return during the Performance Period places the Company’s performance in the 60th percentile, then the number of Performance Shares would be increased to 0.60 (0.5 X 60/50) multiplied by the Base Grant. In no event will Employee be entitled to receive a number of Performance Shares pursuant to this Subsection 5(a) greater than 1.0 times the Base Grant.
Appears in 4 contracts
Samples: Performance Share Award Agreement (Arizona Public Service Co), Performance Share Award Agreement (Arizona Public Service Co), Performance Share Award Agreement (Pinnacle West Capital Corp)
Adjustment of Base Grant for Total Shareholder Return. Fifty percent (50%) of the Base Grant will increase or decrease based upon the Company’s “Total Shareholder Return” as compared to the Total Shareholder Return of the companies in the Growth Index during the Performance Period, as follows: If the Company’s Total Shareholder Return Over The Performance Period As Compared to the Total The Number of Shareholder Return of the Companies in the Growth Performance Shares will Index is: The Number of Performance Shares will be: 90th Percentile or greater 1.0 X Base Grant 75th Percentile .75 X Base Grant 50th Percentile 0.5 X Base Grant 25th Percentile 0.25 X Base Grant Less than 25th Percentile None If intermediate percentiles are achieved, the number of Performance Shares awarded will be prorated (partial shares will be rounded down to the nearest whole share when applicable). For example, if the Company’s Total Shareholder Return during the Performance Period places the Company’s performance in the 60th percentile, then the number of Performance Shares would be increased to 0.60 (0.5 X 60/50) multiplied by the Base Grant. In no event will Employee be entitled to receive a number of Performance Shares pursuant to this Subsection 5(a) greater than 1.0 times the Base Grant.
Appears in 2 contracts
Samples: Performance Share Agreement (Pinnacle West Capital Corp), Performance Share Agreement (Pinnacle West Capital Corp)
Adjustment of Base Grant for Total Shareholder Return. Fifty percent (50%) of the Base Grant will increase or decrease based upon the Company’s “Total Shareholder Return” as compared to the Total Shareholder Return of the companies in the Growth Index during the Performance Period, as follows: If the Company’s Total Shareholder Return Over The Performance Period As Compared to the Total Shareholder Return of the Companies in the Growth Index is: The Number of Performance Shares will be: 90th Percentile or greater greater75th Percentile 1.0 X Base Grant 75th Percentile .75 Grant.75 X Base Grant 50th 55th Percentile 0.5 X Base Grant 25th Percentile 0.25 X Base Grant Less than 25th Percentile None If intermediate percentiles are achieved, the number of Performance Shares awarded will be prorated (partial shares will be rounded down to the nearest whole share when applicable). For example, if the Company’s Total Shareholder Return during the Performance Period places the Company’s performance in the 60th percentile, then the number of Performance Shares would be increased to 0.60 (0.5 X 60/50) multiplied by the Base Grant. In no event will Employee be entitled to receive a number of Performance Shares pursuant to this Subsection 5(a) greater than 1.0 times the Base Grant.
Appears in 2 contracts
Samples: Performance Share Award Agreement (Arizona Public Service Co), Performance Share Award Agreement (Arizona Public Service Co)
Adjustment of Base Grant for Total Shareholder Return. Fifty percent (50%) of the Base Grant will increase or decrease based upon the Company’s “Total Shareholder Return” as compared to the Total Shareholder Return of the companies in the Growth Index during the Performance Period, as follows: If the Company’s Total Shareholder Return Over The Performance Period As Compared to the Total Shareholder Return of the Companies in the Growth Index is: The Number of Performance Shares will be: 90th Percentile or greater greater75th Percentile 1.0 X Base Grant 75th Percentile .75 Grant.75 X Base Grant 50th Percentile 0.5 X Base Grant 25th Percentile 0.25 X Base Grant Less than 25th Percentile None If intermediate percentiles are achieved, the number of Performance Shares awarded will be prorated (partial shares will be rounded down to the nearest whole share when applicable). For example, if the Company’s Total Shareholder Return during the Performance Period places the Company’s performance in the 60th percentile, then the number of Performance Shares would be increased to 0.60 (0.5 X 60/50) multiplied by the Base Grant. In no event will Employee be entitled to receive a number of Performance Shares pursuant to this Subsection 5(a) greater than 1.0 times the Base Grant.
Appears in 1 contract
Samples: Performance Share Award Agreement (Arizona Public Service Co)
Adjustment of Base Grant for Total Shareholder Return. Fifty percent (50%) of the Base Grant will increase or decrease based upon the Company’s “Total Shareholder Return” as compared to the Total Shareholder Return of the companies in the Growth Index during the Performance Period, as follows: If the Company’s Total Shareholder Return Over The Performance Period As Compared to the Total Shareholder Return of the Companies in the Growth Index is: The Number of Performance Shares will be: 90th Percentile or greater greater75th Percentile 1.0 X Base Grant 75th Percentile .75 Grant.75 X Base Grant 50th Percentile 0.5 X Base Grant 25th Percentile 0.25 X Base Grant Less than 25th Percentile None If intermediate percentiles are achieved, the number of Performance Shares awarded will be prorated (partial shares will be rounded down to the nearest whole share when applicable). For example, if the Company’s Total Shareholder Return during the Performance Period places the Company’s performance in the 60th percentile, then the number of Performance Shares would be increased to 0.60 (0.5 X 60/50) multiplied by the Base Grant. In no event will Employee be entitled to receive a number of Performance Shares pursuant to this Subsection 5(a) greater than 1.0 times the Base Grant.
Appears in 1 contract
Samples: Performance Share Award Agreement (Arizona Public Service Co)