Price Condition for Vesting Clause Samples
A Price Condition for Vesting clause establishes that the vesting of certain rights, such as stock options or equity awards, is contingent upon the underlying asset reaching a specified price threshold. In practice, this means that employees or stakeholders will only receive their vested shares if the company's stock price meets or exceeds a predetermined value within a set timeframe. This clause incentivizes performance and aligns the interests of recipients with the company's financial goals, ensuring that rewards are only granted when specific market-based targets are achieved.
Price Condition for Vesting. The “Price Condition” shall be achieved with respect to the maximum percentage of the Restricted Units set forth below when the average Closing Price (as defined below) per share of Common Stock during a period of twenty (20) consecutive trading days meets or exceeds the applicable “Price Target”, on or prior to the Expiration Date, in each case, as specified in the chart below. Cumulative Percentage of Restricted Units that Satisfy the Price Condition Price Target
Price Condition for Vesting. The “Price Condition” shall be achieved with respect to the maximum percentage of the Restricted Units set forth below when the average Closing Price (as defined below) per share of Common Stock during a period of twenty (20) consecutive trading days meets or exceeds the applicable “Price Target” on or prior to the Vesting Date, in each case, as specified in the chart below: % $ % $ % $ % $ % $ For purposes of this Restricted Holdings Unit Grant Certificate, “Closing Price” for any trading day shall mean the closing price per share of the Corporation’s Common Stock reported on the NYSE (or, if not listed on the NYSE, the principal securities exchange on which such shares are listed). If such shares are not listed on any securities exchange, the Closing Price shall be the fair market value thereof as reasonably determined by the Administrator. In the event of any extraordinary stock distribution, stock split, stock combination, recapitalization, rights offering, split-up, spin-off or similar event that constitutes an “equity restructuring” (as defined under Financial Accounting Standards Board (FASB) Accounting Standards Codification 718) with respect to the shares, the Administrator shall, in the manner determined appropriate or desirable by the Administrator and without liability to any person, adjust any or all of (x) the Price Target, (y) the number of Restricted Units, and (z) any other term applicable to the RHUs. Post-Vesting Transfer Restrictions under Section 3.3 of the Restricted Holdings Unit Agreement: ☐ Applicable ☐ Inapplicable Minimum Retained Ownership Percentage under Section 3.4 of the Restricted Holdings Unit Agreement: ☐ Applicable ☐ Inapplicable Minimum Retained Ownership Percentage if applicable: 25% KKR GROUP PARTNERSHIP L.P., by KKR Group Holdings Corp, its general partner GRANTEE By: Name: Participant Name Title: Grant Acceptance Date: Grant Acceptance Date KKR HOLDINGS II L.P., by KKR Group Holdings Corp, its general partner By: Title: KKR & CO. INC. By: Title: Pursuant to the Restricted Holdings Unit Grant Certificate (the “RHU Grant Certificate”) delivered to the Grantee (as defined in the RHU Grant Certificate), and subject to the terms of this Restricted Holdings Unit Agreement (this “Agreement”), the Limited Partnership Agreement of KKR Group Partnership (as defined below), the Limited Partnership Agreement of Holdings II (as defined below) and the Amended and Restated KKR & Co. Inc. 2019 Equity Incentive Plan (as amended from...