Dividend Equivalent RSUs. If dividends are declared on Stock during the Award Period, upon vesting of the Award, you shall be entitled to receive a number of dividend equivalent RSUs determined by (i) multiplying the number of RSUs outstanding on each dividend payment date by the dividend per share of Stock to determine the dividend equivalent amount for each dividend payment date; and (ii) dividing the amount determined in (i) by the Fair Market Value of a share of Stock on the applicable vesting date to determine the number of dividend equivalent RSUs. Dividend equivalent RSUs shall be paid at the same time, in the same manner, and subject to the same vesting and other requirements and restrictions as the RSUs to which they relate.
Dividend Equivalent RSUs. Beginning after the later of the Effective Date or the Grant Date, additional Dividend Equivalent RSUs with a value equal to the value of dividends paid on AEP Common Stock are credited on outstanding (un-canceled) RSUs. The number of additional RSUs awarded due to dividends is calculated as the value of the dividend for a number of Shares of AEP Common Stock equal to the number of outstanding RSUs on the dividend payment date divided by the closing price of AEP Common Stock on the dividend payment date. No additional RSUs will be awarded as Dividend Equivalent RSUs after conversion of the related RSUs into Shares of AEP Common Stock. See Conversion of Vested Stock Units and Delivery of Shares, below.
Dividend Equivalent RSUs. On or near each date that a cash dividend is paid to holders of Common Stock, the Participant will receive additional RSUs equal to: (i) the cash dividend the Participant would have received in connection with the aggregate of each unvested RSU if each such unvested RSU had been in the form of one Share actually held by the Participant (such aggregate cash dividend, “Dividend Equivalents”), divided by (ii) the Fair Market Value of a Share on the dividend payment date (the quotient of (i) and (ii), the “Dividend Equivalent RSUs”). The Dividend Equivalent RSUs shall be deemed to be reinvested in additional RSUs (which may thereafter accrue additional Dividend Equivalents). Each Dividend Equivalent RSU will vest on the same vesting date corresponding to the underlying RSU with respect to which it was awarded, and will otherwise be subject to the same conditions applicable to the underlying RSUs. Unless expressly provided otherwise, as used elsewhere in this Agreement “RSUs” shall include any Dividend Equivalent RSUs that have been credited to Participant.
Dividend Equivalent RSUs. RSUs shall not pay cash dividends. Prior to the consummation of the Transaction, the Participant shall be entitled to receive additional RSUs equal to the number of whole Shares that could have been purchased on the date that any dividends on Shares may be paid, at the Fair Market Value of Shares on that date, as if the dollar amount of any ordinary dividends that are declared on Shares applied to the Shares underlying the RSUs. All such additional RSUs shall be subject to the same terms and conditions applicable herein to the underlying RSUs, including terms and conditions related to vesting of RSUs. Notwithstanding the foregoing, if on any date while RSUs are outstanding hereunder the Company shall pay any extraordinary dividend on the Shares, the Committee shall equitably adjust the outstanding RSUs pursuant to Section 10 of the Plan.
Dividend Equivalent RSUs. With respect to any cash dividend paid by the Company with respect to Shares for which the record date occurs while the Award remains outstanding and that occurs on or after the beginning of the first calendar quarter commencing after the Date of Xxxxx, on the payment date of such dividend the number of RSUs then underlying the Award shall be increased by a number of additional dividend equivalent RSUs equal to the quotient (rounded down to the nearest whole number of RSUs) of (a) the product of
(i) the dollar amount of the cash dividend paid per Share on such date, multiplied by (ii) the number of RSUs that remain outstanding and subject to the Award as of such date, divided by (b) the closing price of a Share on The Nasdaq Global Select Market on such date. Any such additional dividend equivalents shall be subject to the same terms and conditions, and shall be earned and vested, and be settled or forfeited, in the same manner and at the same time, as the RSUs with respect to which they have been credited.
Dividend Equivalent RSUs. RSUs shall not pay cash dividends. The Participant shall be entitled to receive additional RSUs equal to the number of whole Shares that could have been purchased on the date that any dividends on Shares may be paid, at the Fair Market Value of Shares on that date, as if the dollar amount of any ordinary dividends that are declared on Shares applied to the Shares underlying the RSUs. All such additional RSUs shall be subject to the same terms and conditions applicable herein to the underlying RSUs , including such RSUs becoming Vested RSUs. Notwithstanding the foregoing, if on any date while RSUs are outstanding hereunder the Company shall pay any extraordinary dividend on the Shares, the Committee shall equitably adjust the outstanding RSUs pursuant to Section 10 of the Plan.
Dividend Equivalent RSUs. When cash dividends are paid by the Corporation on outstanding Shares, the Corporation shall credit additional dividend equivalent RSUs ("DEUs") with respect to the RSUs in accordance with this Section 2. The number of such DEUs (including fractional DEUs) to be credited in respect of each dividend record date will be calculated by dividing the aggregate amount of the cash dividend that would have been paid to Participant if the RSUs and DEUs outstanding at such dividend record date had been Shares by the closing price per Share on the Applicable Exchange on the Trading Day immediately preceding the dividend payment date for such cash dividends. Each whole DEU represents the right to receive, subject to the terms and conditions of the Plan and this Agreement, the Settlement RSU Payment. DEUs shall be subject to the same terms and conditions as the RSUs and shall be settled at the same time and in the same form as the RSUs to which such DEUs relate. Fractional DEUs shall be rounded up to the nearest whole number as of the date of settlement.
Dividend Equivalent RSUs. On any payment date for dividends (other than stock dividends) paid on Shares, the Participant shall be credited with dividend-equivalents in respect of RSUs credited to the Participant’s account as of the record date for payment of dividends. Such dividend equivalents shall be expressed as additional RSUs (including fractional RSUs) based on the Fair Market Value as of the date on which the dividends on the Shares are paid, and shall be subject to the same vesting and payout conditions as the underlying RSUs in respect of which they were credited.
Dividend Equivalent RSUs. With respect to any cash dividend paid by the Company with respect to Shares for which the record date occurs while the Award remains outstanding, on the payment date of such dividend the number of RSUs then underlying the Award shall be increased by a number of additional dividend equivalent RSUs equal to the quotient of (a) the product of (i) the dollar amount of the cash dividend paid per Share on such date, multiplied by (ii) the number of RSUs that remain outstanding and subject to the Award as of such date, divided by (b) the closing price of a Share on The Nasdaq Global Select Market on such date. Any such additional dividend equivalent RSUs shall be subject to the same terms and conditions, and shall become vested, and be settled or forfeited, in the same and at the same time, as the RSUs with respect to which they have been credited.
Dividend Equivalent RSUs. You will be entitled to receive a dividend equivalent equal to any dividends declared on each share of Stock represented by a related RSU with a record date occurring between the Award Date and the applicable vesting date, subject to the terms and conditions of the related RSU. Any dividend equivalents described in this Section 8.3 will be distributed to you upon vesting of the RSUs subject to the Award. Any such distributions shall be made in (i) cash, for any dividend equivalents relating to cash dividends and (ii) Stock, for any dividend equivalents relating to Stock dividends.
