IPO RSU Grant Clause Samples

IPO RSU Grant. Subject to the approval of SGE’s Board of Directors, Employee will be granted upon the initial public offering of SGE (the “IPO”) 25,000 restricted stock units of SGE, pursuant to the terms and conditions of the Company’s 2023 Share Compensation Plan and related restricted stock unit (“RSU”) award agreement. Such RSUs shall be fully-vested upon their grant.
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IPO RSU Grant. Subject to the approval of the Board of Directors of Silvaco, on or promptly following the date of this Agreement, Executive shall be awarded 700,000 restricted stock units (“RSU”s) under the Company’s 2014 Stock Incentive Plan subject to certain terms and conditions set forth in the 2014 Stock Incentive Plan and RSU Award Agreement, in the form of RSU award agreement used for senior executives including vesting conditions modified as set forth below. The RSUs shall be subject to three (3) vesting requirements: (i) a “Liquidity Event Requirement” (ii) a “Retention Requirement” and a (iii) “Time-Based Requirement.” Each vesting requirement shall be further detailed in the RSU Award Agreement. In relation to the satisfaction of the Time-Based Requirement only, the RSUs shall vest as follows: (i) 350,000 RSUs shall vest on the first business day following the closing of an underwritten public offering by the Company of its securities that is registered under the United States Securities Act of 1933 or its equivalent under another country’s laws (an “IPO”); (ii) 350,000 RSUs shall vest over a two-year period with a portion vesting as a one-year cliff and the remainder quarterly over the following four quarters (50% vesting on the one-year anniversary of the Vesting Start Date and 1/4 of the remaining unvested RSUs set forth in (c)(ii) vesting on each quarterly anniversary thereafter, such that on the two year anniversary of the Vesting Start Date, 100% of the RSUs shall be fully vested), subject to your continued employment unless otherwise specified herein; (iii) The “Vesting Start Date” shall be the first business day following the closing of an IPO. provided, however, if an IPO has not closed on or prior to December 31, 2024, the RSU Award Agreement shall provide that the full award of 700,000 RSUs shall be immediately cancelled and forfeited without any further obligations related to Executive in relation to such award or any other IPO-related equity grant. Subject to and only following the satisfaction of the Liquidity Event Requirement and Retention-Based Requirement, the RSUs shall also be subject to acceleration as provided in the 2024 Silvaco Group, Inc. Executive Severance Plan and Summary Plan Description (the “Plan”) attached hereto as Exhibit C. Further, subject to all applicable laws and the terms of applicable incentive plans, the Company shall take all reasonable steps to allow executive to satisfy withholding obligations as to the 350,000 RSUs...
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Related to IPO RSU Grant

  • RSU Award An RSU Award shall be similar in nature to a Restricted Stock Award except that no shares of Stock are actually transferred to the Holder until a later date specified in the applicable Award Agreement. Each RSU shall have a value equal to the Fair Market Value of a share of Stock.

  • Restricted Stock Unit Award Subject to the terms and conditions of the Plan and this Award Agreement, the Company hereby grants to the Participant the number of Restricted Stock Units indicated in the Notice of Grant (the “RSUs”). Each RSU represents one notional Share.

  • Equity Award The Executive will be eligible to receive equity awards, if any, at such times and on such terms and conditions as the Board shall, in its sole discretion, determine.

  • Restricted Stock Units Subject to the terms and conditions provided in this Agreement and the Plan, the Company hereby grants to the Grantee restricted stock units (the “Restricted Stock Units”) as of the Grant Date. Each Restricted Stock Unit represents the right to receive a Share of Common Stock if the Restricted Stock Unit becomes vested and non-forfeitable in accordance with Section 2 or Section 3 of this Agreement. The Grantee shall have no rights as a stockholder of the Company, no dividend rights and no voting rights with respect to the Restricted Stock Units or the Shares underlying the Restricted Stock Units unless and until the Restricted Stock Units become vested and non-forfeitable and such Shares are delivered to the Grantee in accordance with Section 4 of this Agreement. The Grantee is required to pay no cash consideration for the grant of the Restricted Stock Units. The Grantee acknowledges and agrees that (i) the Restricted Stock Units and related rights are nontransferable as provided in Section 5 of this Agreement, (ii) the Restricted Stock Units are subject to forfeiture in the event the Grantee’s Continuous Status as an Employee or Consultant or Non-Employee Director terminates in certain circumstances, as specified in Section 6 of this Agreement, (iii) sales of Shares of Common Stock delivered in settlement of the Restricted Stock Units will be subject to the Company’s policies regulating trading by Employees and Consultants, including any applicable “blackout” or other designated periods in which sales of Shares are not permitted, (iv) Shares delivered in settlement will be subject to any recoupment or “clawback” policy of the Company, regardless of whether such recoupment or “clawback” policy is applied with prospective or retroactive effect, and (v) any entitlement to dividend equivalents will be in accordance with Section 7 of this Agreement. The extent to which the Grantee’s rights and interest in the Restricted Stock Units becomes vested and non-forfeitable shall be determined in accordance with the provisions of Sections 2 and 3 of this Agreement.

  • Restricted Stock Grant As a member of Employer’s senior management team, Employee will be eligible for annual Restricted Stock Grants pursuant to Anaren’s 2004 Comprehensive Long Term Incentive Plan, as amended (“2004 Plan”) equal in value to 22% of his Base Salary for the respective year. Restrictive Stock Grants will be made annually at the same time other Restricted Stock Grants are made by Anaren to its senior management team, provided Employee is employed with Employer on that date. All Restricted Stock grants issued pursuant to this provision will be subject to the terms of the 2004 Plan, including, but not limited to, a thirty-six (36) month forfeiture provision. Notwithstanding anything to the contrary, in the event Employee’s employment concludes on or after the expiration of the Period of Employment, Employee shall be entitled if the forfeiture period has not otherwise lapsed only to a pro rata portion of each unvested Restricted Stock Grant based on the number of months employed by Employer from the date of grant to the expiration of the Period of Employment date. In the way of example, if Employee has been employed for 18 months of the 36 month forfeiture period at the end of his Period of Employment, he will receive 50% of the Restricted Shares granted. If Employee remains employed by Employer on a full time basis (30 hours or more per week) after the Period of Employment as an at-will Employee, all previously issued restricted stock shall continue to vest in accordance with the terms of the 2004 Plan.