Beginning and Ending Price for TSR. □ The beginning price for a company’s TSR shall be equal to the 20 trading-day average closing price for the publicly traded stock of the company immediately prior to, but not including the first day of, the Performance Period. The ending price for a company’s TSR shall be equal to the 20 trading-day average closing price for the publicly traded stock of the company ending with the last day of the Performance Period. Calculation of Percentile Rank □ After the end of the Performance Period, the percentile rank of the companies in the S&P 500, excluding the Company, will be ranked highest to lowest according to TSR, and a percentile rank will be calculated for each company. □ If the Company’s TSR is equal to or exceeds the highest TSR within the S&P 500 companies, then the Company’s percentile is the 100th. □ If the Company’s TSR is equal to or below the lowest TSR within the S&P 500 companies, then the Company’s percentile is zero. □ Otherwise, the Company’s percentile rank will be determined based on interpolation by reference to the two S&P 500 companies whose TSRs are immediately above and below the Company's TSR. Certification of □ During the period between May 1, 2023 and June 15, performance 2023, the Compensation Committee shall determine and certify the Company’s actual performance in relation to the aforementioned ROIC, EBITDA and TSR metrics and the extent to which Units are awarded. Dividend equivalents □ The Participant shall be entitled to dividend equivalents, which are the right to receive, for each Unit ultimately awarded to the Participant, a cash payment equal to the cash and the fair market value of stock dividends (determined as of the Settlement Date) paid to shareholders between the Grant Date and the applicable Vest Date. Dividend equivalents will be paid in cash on the applicable Settlement Date if and to the extent the applicable performance goals and time vesting requirements have been met.
Beginning and Ending Price for TSR. The beginning price for a company’s TSR shall be equal to the 20 trading-day average closing price for the publicly traded stock of the company immediately prior to, but not including the first day of, the Performance Period. The ending price for a company’s TSR shall be equal to the 20 trading-day average closing price for the publicly traded stock of the company ending with the last day of the Performance Period.
