Performance Based Restricted Stock Awards Sample Clauses
A Performance-Based Restricted Stock Awards clause establishes the terms under which employees or executives receive company stock that is subject to vesting based on the achievement of specific performance goals. Typically, these awards are granted with conditions such as meeting revenue targets, profitability milestones, or other measurable objectives within a set timeframe. The clause ensures that recipients are incentivized to meet or exceed performance expectations, aligning their interests with those of the company and its shareholders, and helps retain key personnel by tying compensation to tangible results.
Performance Based Restricted Stock Awards. (a) Performance Based on HHH Total Shareholder Return.
Performance Based Restricted Stock Awards. One performance-based restricted stock award granted on December 30, 2009, pursuant to the 2006 Plan, that shall vest on December 30, 2010 based on the achievement of certain performance objectives for fiscal year 2010 using qualifying criteria contained in the 2006 Plan (the “2010 Performance Restricted Stock Award”) and one performance-based restricted stock award granted on December 30, 2010, pursuant to the 2006 Plan, that shall vest on December 30, 2011 based on the achievement of certain performance objectives for fiscal year 2011 using qualifying criteria contained in the 2006 Plan (the “2011 Performance Restricted Stock Award”). The target 2010 Performance Restricted Stock Award was granted and performance objectives set by the Compensation Committee of the Board of Directors of ▇▇▇▇▇▇ on December 12, 2009. The 2011 Performance Restricted Stock Award shall be granted and the performance objective(s) set by the Compensation Committee of the Board of Directors of ▇▇▇▇▇▇ prior to commencement of fiscal year 2011. There shall be a threshold level of performance for each performance objective below which no stock shall be earned, a target level of performance, and a maximum level of performance, the amount of which can be up to and including two and a half times the target amount, above which no additional stock shall be earned. The target number of restricted shares that shall be earnable for 2010 is 71,076 shares. The total number of restricted shares that can be earned by the Executive for 2010 is 71,076. The target number of restricted shares that shall be earnable for 2011 and the total number of restricted shares that can be earned by the Executive for 2011, shall be determined by the Compensation Committee on its award date. The achievement of the 2010 Performance Restricted Stock Award and the 2011 Performance Restricted Stock Award for purposes of this Section 1.6 shall be confirmed by the Chief Financial Officer and the Compensation Committee and may be adjusted at the sole discretion of the Compensation Committee in a manner consistent with the performance-based compensation rules of Section 162(m) of the IRC, and as permitted by the 2006 Plan. Notwithstanding any other provision hereof, the Compensation Committee shall have the right, in its sole discretion, to reduce the actual award payout for any Performance Restricted Stock Award by up to and including 5% of the maximum award payout provided that such discretion shall only be exercised b...
Performance Based Restricted Stock Awards. The Executive shall receive the following performance-based restricted stock awards pursuant to the Company's Amended and Restated 2009 Omnibus Incentive Plan:
(i) a performance-based stock award with a face value of One Million Two Hundred and Twenty-Five Thousand Dollars ($1,225,000.00) that will vest based on the Company's relative Total Shareholder Return (“TSR”) achieved over a three-year period (the “2013 TSR Stock Award”). The number of shares of the 2013 TSR Stock Award granted will be determined based on the Company's stock price at the close of the market on the first business day of 2013 as reported on the New York Stock Exchange (the “2013 TSR Target Award Shares”). Vesting of the 2013 TSR Stock Award is contingent upon the Company achieving a percentile rank of 60th against a peer group of companies for three years on an annualized basis, for the period January 1, 2013 through December 31, 2015 (the “2013 TSR Target”). TSR measurement compares the performance of a company's stock by looking at share price appreciation (and dividends, if applicable) over the measurement period. The terms and conditions of the 2013 TSR Stock Award will be set forth in a restricted stock agreement between the Company and the Executive.
(ii) a performance-based stock award with a face value of One Million Two Hundred Thousand Dollars ($1,200,000.00) that will vest based on the Company's relative TSR achieved over a three-year period (the “2014 TSR Stock Award”). The number of shares of the 2014 TSR Stock Award granted will be determined based on the Company's stock price at the close of the market on the first business day of 2014 as reported on the New York Stock Exchange (the “2014 TSR Target Award Shares”). Vesting of the 2014 TSR Stock Award is contingent upon the Company achieving a percentile rank of 60th against a peer group of companies for three years on an annualized basis, for the period January 1, 2014 through December 31, 2016 (the “2014 TSR Target”). The terms and conditions of the 2014 TSR Stock Award will be set forth in a restricted stock agreement between the Company and the Executive.
(iii) a performance-based stock award with a face value of One Million Two Hundred Thousand Dollars ($1,200,000.00) that will vest based on the Company's relative TSR achieved over a two-year period (the “2015 TSR Stock Award”). The number of shares of the 2015 TSR Stock Award granted will be determined based on the Company's stock price at the close of the market ...
Performance Based Restricted Stock Awards. All such awards terminate immediately, and no payment shall be made with respect thereto.
Performance Based Restricted Stock Awards. As set forth in Exhibit A attached hereto, Executive’s outstanding performance-based restricted stock awards (i) shall remain outstanding and eligible to vest in-full (subject to the attainment of the applicable performance goals) in accordance with their terms during the period preceding the Retirement Date, and (ii) shall remain outstanding and eligible to vest on a pro-rata basis (subject to the attainment of the applicable performance goals) pursuant to the retirement terms thereunder during all applicable periods occurring on and after the Retirement Date, it being understood that any shares of performance-based restricted stock subject to such awards that do not remain outstanding and eligible to vest in accordance with this Section 2(c) (or do not otherwise vest because the applicable performance goals are not attained) shall be forfeited. For the avoidance of doubt, the share amounts reflected in Exhibit A assume a payout at target; any ultimate amount, however, will be subject to the attainment of the applicable performance goals. 3.
Performance Based Restricted Stock Awards. All performance based restricted stock awards granted to you pursuant to Section 3(d) of your Employment Agreement, or otherwise, under all of the Company’s stock plans, to the extent not already unrestricted will vest and become unrestricted upon the effective date of your separation from service. The Company will make an additional “tax gross up” payment to you, consistent with Section 3(d) of your Employment Agreement.
Performance Based Restricted Stock Awards