Form of Settlement. Performance Share Units will be settled in the form of Shares of Class A Stock. Fractional Shares will not be issued upon the vesting of Performance Share Units. In the event that a fractional Share is owed to the Participant, instead of paying such fractional Share, the Company shall round up the Shares that are payable to the Participant to the nearest whole number. Upon issuance, Shares will be electronically transferred to an account in the Participant’s name at the provider then administering the Plan as it relates to the Performance Share Units.
Appears in 10 contracts
Samples: Performance Share Unit Agreement (Constellation Brands, Inc.), Performance Share Unit Agreement (Constellation Brands, Inc.), Performance Share Unit Agreement (Constellation Brands, Inc.)
Form of Settlement. Performance Share Units will be settled in the form of Shares of Class A Stock. Fractional Shares will not be issued upon the vesting of Performance Share Units. In the event that a fractional Share is owed to the Participant, instead of paying such fractional Share, the Company shall may (i) round up the Shares that are payable to the Participant to the nearest whole number, or (ii) pay a cash payment equivalent in place of such fractional Share. Upon issuance, Shares will be electronically transferred to an account in the Participant’s name at the provider then administering the Plan as it relates to the Performance Share Units.
Appears in 5 contracts
Samples: Performance Share Unit Agreement, Performance Share Unit Agreement (Constellation Brands, Inc.), Performance Share Unit Agreement (Constellation Brands, Inc.)
