Common use of Post-Vesting Holding Requirement Clause in Contracts

Post-Vesting Holding Requirement. By accepting delivery of any Company Stock (net of such shares withheld for taxes as provided in Section 6 above) at vesting of a PSU hereunder, the Grantee accepts and agrees to the following restriction on transfer of that Company Stock, for a period of 12 months following its issuance hereunder, or, if earlier, until the date that the Grantee incurs a Separation from Service (the "Holding Period"). During the Holding Period, the Grantee may not sell, assign, gift or otherwise transfer the Company Stock delivered hereunder, other than in connection with a Change of Control. The Company may hold the Grantee's issued Company Stock in escrow during this Holding Period, or may place a legend on such certificates, as it deems necessary or appropriate to enforce this holding requirement. STOCK YARDS BANCORP, INC. By: Title: Date: GRANTEE: Signature Printed Name: (acknowledging receipt and conditions set out above) Date: EXHIBIT A PERFORMANCE-BASED VESTING Subject to Sections 4 and 5 of this Grant Agreement, the PSUs shall vest and become nonforfeitable in the Applicable Percentage of the Maximum Number of PSUs. The Applicable Percentage shall range from 0-100% and shall be determined based on the Company's actual Three-Year Aggregate EPS for the Performance Period, plus the Company's Percentile ROAA Ranking for the Performance Period, with the portion of the Applicable Percentage related to each performance measure as set forth in the charts below:

Appears in 2 contracts

Samples: Stock Yards (Stock Yards Bancorp, Inc.), Stock Yards (Stock Yards Bancorp, Inc.)

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Post-Vesting Holding Requirement. By accepting delivery of any Company Common Stock (net of such shares withheld for taxes as provided in Section 6 above) at vesting of a PSU an RSU hereunder, the Grantee accepts and agrees to the following restriction on transfer of that Company Common Stock, for a period of 12 months following its issuance hereunder, or, if earlier, until the date that the Grantee incurs a Separation from Service Termination of Employment (the "Holding Period"). During the Holding Period, the Grantee may not sell, assign, gift or otherwise transfer the Company Common Stock delivered hereunder, other than in connection with a Change of in Control. The Company may hold the Grantee's issued Company Stock Common Shares in escrow during this Holding Period, or may place a legend on such certificates, as it deems necessary or appropriate to enforce this holding requirement. STOCK YARDS BANCORP, INC. By: Title: Date: GRANTEE: Signature Printed Name: [Name of Grantee] (acknowledging receipt and conditions set out above) Date: EXHIBIT A PERFORMANCE-BASED VESTING Subject to Sections 4 and 5 of this Grant Agreement, the PSUs RSUs shall vest and become nonforfeitable in the Applicable Percentage of the Maximum Number of PSUsRSUs. The Applicable Percentage shall range from 0-100% and shall be determined based on the Company's actual Three-Year Aggregate EPS for the Performance Period, plus the Company's Percentile ROAA Ranking for the Performance Period, with the portion of the Applicable Percentage related to each performance measure as set forth in the charts below: Percentile ROAA Ranking Applicable Percentage Maximum: 90th or higher 50% Target: 75th – 89th 25% Minimum: 51st – 74th 10% 50th or below 0% Plus Three-Year Aggregate EPS Applicable Percentage Maximum: $8.22 or more 50% Target: $7.99-$8.21 25% Minimum: $7.50-$7.98 10% Below $7.50 0% For example, if at the end of the Performance Period the Committee determined that the Company ranked above the 90th percentile to peers in ROAA, and had Three-Year Aggregate EPS of $9.00, the Applicable Percentage would be 100% and the Maximum Number of RSUs would be converted to and paid in shares of Common Stock. The performance of the Company during the Performance Period shall be measured against the base EPS for the fiscal year immediately prior to the start of the Performance Period. Any RSUs that do not vest based on the performance requirements set forth in this Exhibit A (and which have not previously terminated pursuant to the terms of the Grant Agreement) will automatically terminate as of the last day of the Performance Period. For purposes of the Award, the following definitions shall apply:

Appears in 1 contract

Samples: Restricted Stock Unit (Stock Yards Bancorp, Inc.)

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Post-Vesting Holding Requirement. By accepting delivery of any Company Stock (net of such shares withheld for taxes as provided in Section 6 above) at vesting of a PSU hereunder, the Grantee accepts and agrees to the following restriction on transfer of that Company Stock, for a period of 12 months following its issuance hereunder, or, if earlier, until the date that the Grantee incurs a Separation from Service (the "Holding Period"). During the Holding Period, the Grantee may not sell, assign, gift or otherwise transfer the Company Stock delivered hereunder, other than in connection with a Change of Control. The Company may hold the Grantee's issued Company Stock in escrow during this Holding Period, or may place a legend on such certificates, as it deems necessary or appropriate to enforce this holding requirement. STOCK YARDS BANCORP, INC. By: Title: Date: GRANTEE: Signature Printed Name: (acknowledging receipt and conditions set out above) Date: EXHIBIT A PERFORMANCE-BASED VESTING Subject to Sections 4 and 5 of this Grant Agreement, the PSUs shall vest and become nonforfeitable in the Applicable Percentage of the Maximum Number of PSUs. The Applicable Percentage shall range from 0-100% and shall be determined based on the Company's actual Three-Year Aggregate EPS for the Performance Period, plus the Company's Percentile ROAA Ranking for the Performance Period, with the portion of the Applicable Percentage related to each performance measure as set forth in the charts below: Percentile ROAA Ranking Applicable Percentage Maximum: __th or higher 50% Target: __th – __th __% Threshold: __th – __th __% __th or below 0% Plus Three-Year Aggregate EPS Applicable Percentage Maximum: $____ or higher 50% Target: $____ to $____ __% Threshold: $____ to $____ __% Below $____ 0% For example, if at the end of the Performance Period the Committee determined that the Company ranked above the __th percentile to peers in ROAA, and had Three-Year Aggregate EPS of $____, the Applicable Percentage would be 100% and the Maximum Number of PSUs would be converted to and paid in shares of Company Stock. Any PSUs that do not vest based on the performance requirements set forth in this Exhibit A (and which have not previously terminated pursuant to the terms of the Grant Agreement) will automatically terminate as of the last day of the Performance Period. For purposes of the Award, the following definitions shall apply:

Appears in 1 contract

Samples: Performance Vested Stock Unit (Stock Yards Bancorp, Inc.)

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