Fractional Performance Shares Clause Samples
The Fractional Performance Shares clause defines how fractional shares are handled when performance-based equity awards are calculated. Typically, when a participant earns a number of shares based on performance metrics, the resulting amount may not be a whole number. This clause specifies whether such fractional shares are rounded up, rounded down, or settled in cash instead of issuing partial shares. Its core function is to ensure administrative clarity and consistency in the distribution of equity awards, preventing complications that could arise from issuing or managing fractional shares.
Fractional Performance Shares. Notwithstanding any provisions in this Agreement to the contrary, no full share of Common Stock or cash will be issued for a fractional Stock-Settled Performance Share unless the fractional Stock-Settled Performance Share is for at least one-half of a Performance Share.
Fractional Performance Shares. Notwithstanding any provisions in this Agreement to the contrary, no full share of Common Stock or cash will be issued for a fractional Stock-Settled Performance Share unless the fractional Stock-Settled Performance Share is for at least one-half of a Performance Share; provided that if the Company determines to allow fractional shares of Common Stock to be distributed or made available under the Company’s compensation and benefit plans, any fractional share of Common Stock due under this Plan shall be distributed in the form of a fractional share of Common Stock, and the foregoing rounding rules shall cease to apply.