Required Stock Ownership Clause Samples
The Required Stock Ownership clause mandates that certain individuals, typically executives or directors, must hold a specified minimum amount of company stock. This requirement may be expressed as a fixed number of shares or as a value relative to the individual's salary, and often includes rules about how quickly the ownership threshold must be met and maintained. By ensuring that key personnel have a financial stake in the company's performance, this clause aligns their interests with those of shareholders and promotes long-term commitment to the company's success.
Required Stock Ownership. The Executive acknowledges and agrees to adhere to the Company’s executive stock ownership guidelines as set forth in the Company’s Stock Ownership Policy, as may be amended from time to time in the Company’s sole discretion, which currently requires, among other things, that the Executive shall acquire and hold three times his annual base salary in Company stock.
Required Stock Ownership. The Executive acknowledges and agrees to adhere to the Teva Group’s stock ownership guidelines applicable to its executive officers, as may be amended from time to time in its sole discretion.
Required Stock Ownership. The Company will at all times be the legal and beneficial owner of the Pledged Stock and will not sell, transfer or otherwise dispose of any Capital Stock of Satellite CD Radio, Inc.
Required Stock Ownership. 93 SECTION 10.20. Further Assurances..............................................93 SECTION 10.21. Limitation on Subsidiary Business Activities....................93 SECTION 10.22. Limitation on Sale-Leaseback Transactions.......................93 ARTICLE XI
Required Stock Ownership. (a) The Trust will at all times be the legal and beneficial owner of the Pledged Bank Stock and will not sell, transfer or otherwise dispose of any Capital Stock of the Bank regardless of when acquired. The Trust will at all times be the legal and beneficial owner in the aggregate of at least 66 2/3% of the issued and outstanding common stock of the Bank and Voting Stock representing at least 66 2/3% of the voting power of the Voting Stock of the Bank. All the Pledged Bank Stock and such shares of the common stock of the Bank and Voting Stock representing at least 66 2/3% of the voting power of the Voting Stock of the Bank as are necessary to ensure that the Trust beneficially and legally owns 66 2/3% of the issued and outstanding Voting Stock and common stock of the Bank will be referred to as "Restricted Shares."
(b) The Trust will not create or permit to exist any Lien on any Restricted Shares directly owned by it, other than the Lien of the Indenture.
(c) The Trust will not create or permit to exist any Lien on the Collateral other than the Lien of the Indenture.
Required Stock Ownership. During the period beginning on the fourth anniversary of the Effective Date and through the end of the term of this Agreement, the Executive will be required to own Stock equal to five (5) times the Executive's Annual Base Salary, based on Annual Base Salary as defined in Section 4(a) and the average Stock value as of the fourth anniversary of the Effective Date. For purposes of this section, Executive's average stock value shall not include Restricted Stock prior to such Restricted Stock being fully vested. Effective from the date of this Agreement, Executive shall be required to retain 50% of all net stock options exercised in shares until Executive meets the requirement set forth in this Section 4 (c)(iii) that Executive owns Stock equal to five (5) times Executive's Annual Base Salary.