ProLogis Dividend Equivalent Units Sample Clauses
The ProLogis Dividend Equivalent Units clause establishes the right of certain equity holders to receive payments equivalent to dividends paid on common shares. In practice, this means that holders of units, such as restricted stock units or performance units, are entitled to receive cash or additional units reflecting the value of dividends distributed to regular shareholders during the vesting period. This clause ensures that participants in equity incentive plans are not disadvantaged by missing out on dividend payments, thereby maintaining the intended value and incentive of their awards.
ProLogis Dividend Equivalent Units. At the Topco Effective Time, each outstanding dividend equivalent unit award with respect to ProLogis Common Shares (recognizing and taking into account that each such ProLogis Common Share will, at the ProLogis Effective Time, be converted into a share of New Pumpkin Common Stock in accordance with Section 2.1 of this Agreement) under a ProLogis Share Plan (each, a “ProLogis DEU”), whether or not vested as of the Topco Effective Time, will be assumed by the Surviving Corporation by virtue of the Mergers and without any action on the part of the holder thereof. Subject to, and in accordance with, the terms of, the applicable ProLogis Share Plan and any applicable award agreement or other agreement or other document evidencing ProLogis DEUs, each ProLogis DEU so assumed shall be converted, at the Topco Effective Time, into the right to receive the number of shares of AMB Common Stock equal to the number of ProLogis Common Shares subject to the ProLogis DEU, multiplied by the Exchange Ratio (rounded down to the nearest whole number of shares of AMB Common Stock) and, from and after the Topco Effective Time, will otherwise continue to have, and be subject to, the same terms and conditions (including vesting schedule) as were applicable to the corresponding ProLogis DEU immediately prior to the Topco Effective Time and any obligations in respect thereof shall be payable or distributable in accordance with the terms of the applicable ProLogis Share Plan (including any applicable award agreements or other agreements or other documents evidencing such ProLogis DEU) immediately prior to the Topco Effective Time.