Net Settlement. With the written consent of the Company and approval by the Administrator, the payment of the Grantee’s tax withholding obligations may be made via “net settlement”, whereby the Grantee elects to satisfy all applicable tax withholding requirements via issuance from Company to the Grantee an amount of shares consisting of the number of shares vested less shares withheld to cover the tax withholding obligations (“the withheld shares”). In this case, the Company will remit to the appropriate taxing authorities withheld taxes on behalf of the Grantee in an amount equal to the value of the withheld shares. The number of withheld shares will be calculated by valuing the withheld shares based upon the closing price on the applicable vesting date. Net settlement resulting in partial shares will be rounded up. Tax withholding due related to federal and state income taxes will be made at minimum withholding requirements.
Appears in 6 contracts
Samples: Restricted Stock Unit Agreement (Arrowhead Pharmaceuticals, Inc.), Restricted Stock Unit Agreement (Arrowhead Pharmaceuticals, Inc.), Plan Restricted Stock Unit Agreement (Arrowhead Pharmaceuticals, Inc.)
