Dex Restricted Stock Units Sample Clauses
The 'Dex Restricted Stock Units' clause defines the terms under which restricted stock units (RSUs) are granted to individuals, typically employees or service providers, by the company Dex. This clause outlines the conditions for vesting, transferability, and potential forfeiture of the RSUs, such as requiring continued employment or achievement of certain milestones before the units convert into actual shares. Its core practical function is to incentivize and retain key personnel by aligning their interests with the company's performance, while also protecting the company by setting clear conditions for earning and receiving equity.
Dex Restricted Stock Units. Effective as of the Dex Effective Time, each outstanding restricted stock unit denominated in shares of Dex Common Stock granted to, or held in a deferral account for the benefit of, any current or former employee or director of Dex or any Dex Subsidiary under any Dex Stock Plan that is unsettled immediately prior to the Dex Effective Time (collectively, the “Dex Stock Units”), shall, by virtue of the Dex Merger and without any action on the part of the holder thereof, become vested and converted into the right to receive a number of shares of Newco Common Stock equal to (i) the target number of Dex Stock Units (as specified on the applicable Dex Stock Unit award agreement) multiplied by (ii) the Dex Exchange Ratio.