Phantom Share Award Clause Samples

A Phantom Share Award is a contractual provision that grants an employee or participant the right to receive a cash payment or equivalent value based on the appreciation of a company's shares, without actually transferring any real shares. Typically, the award tracks the value of a specified number of shares over a set period, and upon vesting or a triggering event, the recipient receives a payout reflecting the increase in share value. This clause allows companies to incentivize and reward employees with equity-like benefits while avoiding the complexities of issuing actual shares, thus aligning interests and retaining talent without diluting ownership.
Phantom Share Award. Upon the Key Executive's execution of the ------------------- Agreement, ▇▇▇▇ Atlantic shall establish a notional account on behalf of the Key Executive and credit to that account 70,000 shares of ▇▇▇▇ Atlantic stock ("Phantom Shares"). This account shall further be credited, on each subsequent dividend payment date for ▇▇▇▇ Atlantic stock, with an amount equivalent to the dividend payable on the number of shares of ▇▇▇▇ Atlantic stock equal to the number of Phantom Shares in the Key Executive's account on the record date for such dividend. Such amount shall immediately be converted to a number of additional Phantom Shares calculated by dividing such amount by the value of ▇▇▇▇ Atlantic stock, as determined pursuant to Section 6(c)(i) of this Agreement.
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Phantom Share Award 
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Related to Phantom Share Award

  • 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 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 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 Each Performance Share is a bookkeeping entry that records the equivalent of one Share. Upon the vesting of the Performance Shares as provided in Section 2, the vested Performance Shares will be settled as provided in Section 3.

  • 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.