Common use of Distribution of Stock Clause in Contracts

Distribution of Stock. (i) Shares shall be distributed to Participant (or in the event of Participant’s death, to his or her estate) with respect to such Participant’s vested RSUs granted to Participant pursuant to this RSU Agreement, subject to the terms and provisions of the Plan and this RSU Agreement, within thirty (30) days following each vesting date as the RSUs vest pursuant to the Vesting Schedule set forth in the Grant Notice. (ii) All distributions shall be made by the Company in the form of whole Shares. (iii) Notwithstanding the foregoing, Shares shall be issuable with respect to the RSUs at such times and upon such events as are specified in this RSU Agreement only to the extent issuance under such terms will not cause the RSUs or such Shares to be includible in the gross income of Participant under Section 409A of the Code prior to such times or the occurrence of such events, as permitted by the Code and the regulations and other guidance thereunder.

Appears in 2 contracts

Samples: Restricted Stock Unit Award Agreement (Xperi Inc.), Performance Based Restricted Stock Unit Award Agreement (Xperi Inc.)

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Distribution of Stock. (i) Shares shall be distributed to Participant (or in the event of Participant’s death, to his or her estate) with respect to such Participant’s vested RSUs granted to Participant pursuant to this RSU Agreement, subject to the terms and provisions of the Plan and this RSU Agreement, within thirty (30) days following each vesting date as the RSUs vest pursuant to the Vesting Schedule set forth in the Grant Notice. (ii) All distributions shall be made by the Company in the form of whole Sharesshares of Common Stock. (iii) Notwithstanding the foregoing, Shares shall be issuable with respect to the RSUs at such times and upon such events as are specified in this RSU Agreement only to the extent issuance under such terms will not cause the RSUs or such Shares to be includible in the gross income of Participant under Section 409A of the Code prior to such times or the occurrence of such events, as permitted by the Code and the regulations and other guidance thereunder.

Appears in 2 contracts

Samples: Restricted Stock Unit Award Agreement (Xperi Holding Corp), Restricted Stock Unit Award Agreement (Tessera Technologies Inc)

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