Dividend Credits Sample Clauses
The Dividend Credits clause defines how dividend payments or credits are handled between parties, typically in the context of financial agreements or derivative contracts. It specifies the conditions under which one party is entitled to receive the economic benefit of dividends paid on underlying securities, such as during the life of a swap or when holding synthetic positions. This clause ensures that the party with economic exposure to the asset receives appropriate compensation for dividends, thereby maintaining the intended financial equivalence and preventing disputes over dividend entitlements.
Dividend Credits. The Participant shall receive dividend credits upon the Company’s payment of cash dividends for its Common Stock during the Performance Period as follows:
Dividend Credits. If applicable, the Participant shall receive dividend credits upon the Company’s payment of cash dividends for its Common Stock during the Performance Period as follows:
a. The Participant shall receive dividend credits on the unvested portion of the original number of Performance Shares awarded on the Date of Grant (“Original Performance Shares”), with the amount of such dividend credits credited to the Participant in the form of additional unvested Performance Shares, as calculated pursuant to the Plan.
b. The Participant’s Performance Shares attributable to any dividend credits will be vested and earned in accordance with the schedule of the Original Performance Shares (as described above).
Dividend Credits. During the period of time between the Grant Date and the date on which Grantee receives a distribution of the shares of Common Stock related to the Restricted Stock Units awarded hereunder, the Award of Restricted Stock Units hereunder shall be evidenced by book entry registration. As of each date that dividends are paid with respect to Common Stock (the “Dividend Payment Date”), the Grantee shall have an amount credited to his account equal to the amount of the dividend paid per share of Common Stock as of such Dividend Payment Date multiplied by the number of Restricted Stock Units credited to the Grantee’s account immediately prior to such Dividend Payment Date. Such amount shall be paid to the Grantee on the 15th business day following the Dividend Payment Date.
Dividend Credits. Unless the Committee has designated that a Restricted Stock Unit Award is not eligible for dividend credits, on each date on which a dividend is distributed by the Company on shares of Common Stock (whether paid in cash, Common Stock or other property), the Participant’s Restricted Stock Unit account shall be credited with an additional whole or fractional number of Restricted Stock Units as a dividend credit. The number of additional Restricted Stock Units to be credited shall be determined by dividing the product of the dividend value times the number of Restricted Stock Units standing in the Participant’s account on the dividend record date by the Fair Market Value of the Common Stock on the date of the distribution of the dividend (i.e., dividend amount x number of whole and fractional Restricted Stock Units as of the dividend record date / Fair Market Value of Common Stock as of dividend distribution date). Accounts shall be maintained and determinations shall be calculated to three decimal places.
Dividend Credits. Beginning after the later of the Effective Date or the Grant Date, dividend credits are awarded as additional performance shares when a dividend is paid on AEP Common Stock. The number of additional performance shares awarded due to dividends is calculated by multiplying the value of the dividend on a per share basis by the number of performance shares credited to you as of the dividend record date and dividing this result by the closing price of AEP Common Stock on the dividend payment date. These additional performance shares are subject to the same performance measures and vesting requirements as the original underlying performance shares on which they were awarded.
Dividend Credits. During the period of time between the Grant Date and the date on which Grantee receives a distribution of the shares of Common Stock related to the Restricted Stock Units awarded hereunder, the Award of Restricted Stock Units hereunder shall be evidenced by book entry registration. As of each date that dividends are paid with respect to Common Stock, the Grantee shall have an amount credited to his account equal to the amount of the dividend paid per share of Common Stock as of such dividend payment date multiplied by the number of Restricted Stock Units credited to the Grantee’s account immediately prior to such dividend payment date, with such amount to be payable to the Grantee on the earlier of (i) the date of which the Grantee receives his or her next quarterly payment of the annual retainer paid to Grantee for service as a director of the Board of Directors of the Company, or (ii) the date that the Grantee no longer serves as a director of the Company.
Dividend Credits. The Director's Deferment Account shall be ---------------- credited with an amount equal to the dividend that would have been paid on the same number of shares of the Company's Common Stock as the number of Phantom Shares in the Deferment Account as of the dividend payment date. The amount of such dividend credits shall be converted as of the last day of each quarter of the Company's fiscal year into Phantom Shares in the same manner as the Director's fees are converted.
Dividend Credits. Beginning after the later of the Effective Date or the Grant Date, dividend credits are awarded on all outstanding (un-canceled) performance units as of the dividend record date as additional performance shares when a dividend is paid on AEP Common Stock. The number of additional performance shares awarded due to dividends is calculated by multiplying the value of the dividend on a per share basis by the number of performance shares credited to you as of the dividend record date and dividing this result by the closing price of AEP Common Stock on the dividend payment date. These additional performance shares are subject to the same performance measures and vesting requirements as the original underlying performance shares on which they were awarded. As such, they will be canceled if and to the extent that the underlying performance shares on which they were granted are or have been canceled.