Milestone-Based Shares. The Stockholder shall acquire a vested interest in thirty-seven and one-half percent (37.5%) of the Shares (i.e., Three Hundred Thousand (300,000) shares of Common Stock — the “Milestone-Based Shares”), and the Repurchase Right shall lapse as to such Milestone-Based Shares, as follows so long as the Stockholder continues to be a Service Provider to the Company: (1) fifty percent (50%) of the total Milestone-Based Shares (i.e., One Hundred Fifty Thousand (150,000) shares of Common Stock — the “First Milestone Shares”) shall vest as follows:
Appears in 4 contracts
Samples: Restricted Stock Issuance Agreement (Receptos, Inc.), Restricted Stock Issuance Agreement (Receptos, Inc.), Restricted Stock Issuance Agreement (Receptos, Inc.)
