Performance Shares Payable Sample Clauses

Performance Shares Payable. The number of Performance Shares payable is the Target Award multiplied by the average of the payout percentages determined using the Company’s cumulative TSR Percentile Rank through each of the last 4 quarters of the Performance Period. For performance levels falling between the values as shown above, the percentage of Shares payable will be determined by interpolation. Payments will be made in Shares. For an illustration of this calculation, see the Hypothetical Example below. Hypothetical Example: 2021-2023 Performance Period 2021 2022 2023 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Cumulative TSR Percentile Rant from January 1, 2021 through: 61st 57th 72nd 69th 70th 62nd 54th 52nd 63rd 47th 45th 52nd Payout Percentages 152% 94% 90% 108% Percentage of Performance Shares Payable (Average Payout Percentages of Last 4 Quarters) 111%
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Performance Shares Payable. The number of Performance Shares payable is equal to the product of (i) the Target Award multiplied by (ii) the Adjusted EBITDA Performance Multiplier (as defined below), rounded down to the nearest whole share. Payment will be made in Shares. For an illustration of this calculation, see the Hypothetical Example below, which assumes that Participant remained employed with the Company through the Vesting Date. Hypothetical Example: [2022-2024] Performance Period Year Annual Payout Percentage(based on Adjusted EBITDA for CY [2022] and Annual Adjusted EBITDA Growth for CY [2023] and CY [2024]) [2022] Calendar Year 110% [2023] Calendar Year 95% [2024] Calendar Year 104% Adjusted EBITDA Performance Multiplier(1)(average of the Annual Payout Percentages for the three calendar years) 103%
Sample 1
Performance Shares Payable. The number of Performance Shares payable is equal to the product of (i) the Target Award multiplied by (ii) the Adjusted EBITDA Performance Multiplier (as defined below), rounded down to the nearest whole share; provided, however, that following Participant’s Retirement (as such term is defined in the Plan) from the Company, the number of Performance Shares payable shall instead be equal to the product of (x) the Retirement Award (as defined below) multiplied by (y) the Adjusted EBITDA Performance Multiplier, rounded down to the nearest whole share. Payment will be made in Shares. For an illustration of this calculation, see the Hypothetical Example below, which assumes that Participant remained employed with the Company through the Vesting Date. Hypothetical Example: [2022-2024] Performance Period Year Annual Payout Percentage(based on Adjusted EBITDA for CY [2022] and Annual Adjusted EBITDA Growth for CY [2023] and CY [2024]) [2022] Calendar Year 110% [2023] Calendar Year 95% [2024] Calendar Year 104% Adjusted EBITDA Performance Multiplier(1)(average of the Annual Payout Percentages for the three calendar years) 103%
Sample 1
Performance Shares Payable. The number of Performance Shares payable is the Target Award multiplied by the average of the payout percentages determined using the Company’s cumulative TSR Percentile Rank through each of the last four quarters of the Performance Period. For performance levels falling between the values as shown above, the percentage of Shares payable will be determined by interpolation. Payments will be made in Shares. For an illustration of this calculation, see the Hypothetical Example below, which assumes that Participant remained employed with the Company through the Vesting Date. Hypothetical Example: 2022-2025 Performance Period 2022 2023 2024 2025 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Cumulative TSR Percentile Rank from July 29, 2022 through: 50th 55th 61st 57th 72nd 69th 70th 62nd 54th 52nd 63rd 47th 45th 52nd Payout Percentages 152% 94% 90% 108% Percentage of Performance Shares Payable (Average Payout Percentages of Last 4 Quarters) 111%
Sample 1
Performance Shares Payable. Subject to Section 2(b), the number of Shares payable is the Target Award multiplied by the “Percentage of Performance Shares Payable” shown in the above table. For performance levels falling between the values as shown above, the percentage of Shares payable will be determined by interpolation. Payments will be made in Shares.
Sample 1

Related to Performance Shares Payable

  • Performance Share Units The Committee may, in its discretion, grant to Executive performance share units subject to performance vesting conditions (collectively, the “Performance Units”), which shall be subject to restrictions on their sale as set forth in the Plan and an associated Performance Unit Grant Letter.

  • Performance Shares The Performance Shares earned by the Grantee will be determined and delivered to the Grantee as soon as practicable subsequent to the determination of the Corporation’s financial results for the Performance Cycle and approval by the Plan Administrator. The corresponding shares of the Corporation’s common stock will be purchased on the open market.

  • Performance Share Award If your Award includes a Performance Share Award, and you voluntarily terminate your employment prior to the end of the Performance Period, you will forfeit your entire Performance Share Award. 

  • Performance Stock Units The Company may grant to Executive performance stock units (“PSUs”) pursuant to the Incentive Plan. All PSUs are subject to and conditioned on approval of the grant and its terms by the Board. All granted PSUs shall vest as provided in the applicable PSU grant notice and grant agreement (“PSU Agreement”). All PSUs shall be subject to the terms and conditions of the Incentive Plan and a PSU Agreement in a form prescribed by the Company, which Executive must sign as a condition to receiving the PSUs.

  • Performance Share Awards On the Performance Share Vesting Date next following the Executive's date of death, the number of Performance Shares that shall become Vested Performance Shares shall be determined by multiplying (a) that number of shares of Company Common Stock subject to the Performance Share Agreement that would have become Vested Performance Shares had no such termination occurred; provided, however, in no case shall the number of Performance Shares that become Vested Performance Shares exceed 100% of the Target Number of Performance Shares set forth in the Performance Share Agreement, by (b) the ratio of the number of full months of the Executive's employment with the Company during the Performance Period (as defined in the Performance Share Agreement) to the number of full months contained in the Performance Period. Vested Common Shares shall be issued in settlement of such Vested Performance Shares on the Settlement Date next following the Executive’s date of death.

  • Performance Units Subject to the limitations set forth in paragraph (c) hereof, the Committee may in its discretion grant Performance Units to any Eligible Person and shall evidence such grant in an Award Agreement that is delivered to the Participant which sets forth the terms and conditions of the Award.

  • Payment of Restricted Stock Units Payment of Restricted Stock Units that vest pursuant to this Section shall be made in Shares (or, if applicable, settlement in the same consideration paid to the stockholders of the Company pursuant to the Change in Control), as soon as practicable following the applicable vesting date. The Restricted Stock Units are intended to be exempt from application of Section 409A of the Code, and any ambiguities set forth herein shall be interpreted accordingly. However, to the extent that an exemption is not available and the Restricted Stock Units are “deferred compensation” subject to the requirements of Section 409A of the Code, the following provisions shall apply and shall supersede anything to the contrary set forth herein and in the Plan to the extent required for the settlement of the Restricted Stock Units to comply with the requirements of Section 409A of the Code. In a Change in Control or Corporate Transaction the Award must be assumed, continued or substituted by the Surviving Corporation or the Parent Corporation and any Shares scheduled to be issued upon an applicable scheduled Vest Date may not be earlier issued unless the Change in Control or Corporate Transaction is also a change in the ownership or effective control of the Company or a change in the ownership of a substantial portion of the assets of the Company as described in Code Section 409A(a)(2)(A)(iv) and an exemption is available and elected under Treasury Regulation 1.409A-3(j)(4)(ix)(B) or such earlier issuance of the Shares is otherwise permitted by Section 409A of the Code. The Company retains the right to provide for earlier issuance of Shares in settlement of the Restricted Stock Units to the extent permitted by Section 409A of the Code.

  • Share Award The Corporation hereby awards the Employee Shares (Shares) of Common Stock, par value $1.50 per share (Common Stock) of the Corporation pursuant to the 2007 Viad Corp Omnibus Incentive Plan (Plan), subject to the terms, conditions, and restrictions of such Plan and as hereinafter set forth.

  • Settlement of Restricted Stock Units 6.1 Subject to Section 9 hereof, promptly following the vesting date, and in any event no later than March 15 of the calendar year following the calendar year in which such vesting occurs, the Company shall (a) issue and deliver to the Grantee the number of shares of Common Stock equal to the number of Vested Units; and (b) enter the Grantee’s name on the books of the Company as the shareholder of record with respect to the shares of Common Stock delivered to the Grantee.

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