Rights as Shareholder; Dividend Equivalents. 6.1 The Participant shall not have any rights of a shareholder with respect to the Common Shares underlying the Restricted Stock Units unless and until the Restricted Stock Units vest and are settled by the issuance of such Common Shares. Upon and following the settlement of the Restricted Stock Units, the Participant shall be the record owner of the Common Shares underlying the Restricted Stock Units unless and until such shares are sold or otherwise disposed of, and as record owner shall be entitled to all rights of a shareholder of the Company (including voting rights). 6.2 In the event that the Company pays any cash dividends on its Common Shares between the Grant Date and the date when the Restricted Stock Units are settled in accordance with Section 7 hereof or are forfeited, the Participant’s Account shall be credited on the date such dividend is paid to shareholders with an amount equal to all cash dividends that would have been paid to the Participant if one Common Share had been issued on the Grant Date for each Restricted Stock Unit granted to the Participant (“Dividend Equivalents”). Dividend Equivalents shall be credited to the Participant’s Account and interest may be credited on the amount of cash Dividend Equivalents credited to the Participant’s Account at a rate and subject to such terms as determined by the Committee. Dividend Equivalents credited to the Participant’s Account shall be subject to the same vesting and other restrictions as the Restricted Stock Units to which they are attributable and shall be paid on the same date that the Restricted Stock Units to which they are attributable are settled in accordance with Section 7 hereof. Dividend Equivalents credited to the Participant’s Account shall be distributed in cash or, at the discretion of the Committee, in Common Shares having a Fair Market Value equal to the amount of the Dividend Equivalents and interest, if any. Any accumulated and unpaid Dividend Equivalents attributable to Restricted Stock Units that are cancelled will not be paid and will be immediately forfeited upon cancellation of the Restricted Stock Units.
Appears in 9 contracts
Samples: Restricted Stock Unit Agreement (Target Hospitality Corp.), Restricted Stock Unit Agreement (Target Hospitality Corp.), Restricted Stock Unit Agreement (Target Hospitality Corp.)
Rights as Shareholder; Dividend Equivalents. 6.1 The Prior to the distribution of Shares with respect to Units pursuant to Section 3 above, Participant shall not have any ownership or rights of a shareholder with respect to the Common ownership of any Shares underlying the Restricted Stock Units unless and until the Restricted Stock Units vest and are settled by the issuance of such Common Shares. Upon and following the settlement of the Restricted Stock Units; provided, the however, that Participant shall be the record owner of the Common Shares underlying the Restricted Stock Units unless and until such shares are sold or otherwise disposed of, and as record owner shall be entitled to all rights of a shareholder of the Company accrue cash Dividend Equivalents on outstanding Units (including voting rightsi.e. Units that have not been forfeited, cancelled or settled).
6.2 In the event that the Company pays any , whether vested or unvested, if cash dividends on its the Common Shares between Stock are declared by the Board on or after the Grant Date and Date. Prior to the date Determination Date, Participant will accrue cash Dividend Equivalents on Units equal to the Target Award Number. Specifically, when cash dividends are paid with respect to a share of outstanding Common Stock, an amount of cash per Unit equal to the Restricted cash dividend paid with respect to a share of outstanding Common Stock Units are settled will be accrued with respect to each Unit in accordance with Section 7 hereof or are forfeitedParticipant’s Target Award Number. On the Determination Date, the dollar amount of Participant’s Account shall be credited on the date such dividend is paid to shareholders with an amount equal to all cash dividends that would have been paid to the Participant if one Common Share had been issued on the Grant Date for each Restricted Stock Unit granted to the Participant (“Dividend Equivalents”). cumulative accrued Dividend Equivalents shall as of the Determination Date will be credited to the multiplied by Participant’s Account and interest may be credited on Target Award Number Percentage to determine the amount of cash Dividend Equivalents credited that will be paid to the Participant’s Account at a rate and subject to such terms as determined by the Committee. Dividend Equivalents credited will be paid in cash as soon as administratively feasible following the date on which the underlying Units giving rise to the Participant’s Account shall be subject to the same vesting and other restrictions as the Restricted Stock Units to which they are attributable and shall be paid on the same date that the Restricted Stock Units to which they are attributable Dividend Equivalents are settled and paid out, but in no event later than December 31st of the year in which the underlying Units are distributed in accordance with Section 7 hereof3. The Dividend Equivalents credited to the Participant’s Account shall be distributed in cash ortreated as earnings on, at and as a separate amount from, the discretion Units for purposes of Section 409A of the Committee, in Common Shares having a Fair Market Value equal to the amount of the Dividend Equivalents and interest, if any. Any accumulated and unpaid Dividend Equivalents attributable to Restricted Stock Units that are cancelled will not be paid and will be immediately forfeited upon cancellation of the Restricted Stock UnitsCode.
Appears in 4 contracts
Samples: Performance Restricted Stock Unit Award Agreement (Us Bancorp \De\), Performance Restricted Stock Unit Award Agreement (Us Bancorp \De\), Performance Restricted Stock Unit Award Agreement (Us Bancorp \De\)
Rights as Shareholder; Dividend Equivalents. 6.1 The Participant shall not have any rights of a shareholder with respect to the Common Shares underlying the Restricted Stock Performance Units unless and until the Restricted Stock Performance Units vest and are settled by the issuance of such Common Shares. Upon and following the settlement of the Restricted Stock UnitsSubject to Section 7 below, the Participant shall be the record owner of the Common Shares underlying the Restricted Stock Performance Units unless and until such shares are sold or otherwise disposed of, and as record owner shall be entitled to all rights of a shareholder of the Company (including voting rights).
6.2 In the event that the Company pays any cash dividends on its Common Shares between the Grant Date and the date when the Restricted Stock Performance Units are settled in accordance with Section 7 hereof or are forfeited, the Participant’s Account shall be credited on the date such dividend is paid to shareholders with an amount equal to all cash dividends that would have been paid to the Participant if one Common Share had been issued on the Grant Date for each Restricted Stock Performance Unit granted to the Participant (“Dividend Equivalents”). Dividend Equivalents shall be credited to the Participant’s Account and interest may be credited on the amount of cash Dividend Equivalents credited to the Participant’s Account at a rate and subject to such terms as determined by the Committee. Dividend Equivalents credited to the Participant’s Account shall be subject to the same vesting and other restrictions as the Restricted Stock Performance Units to which they are attributable and shall be paid on the same date that the Restricted Stock Performance Units to which they are attributable are settled in accordance with Section 7 hereof. Dividend Equivalents credited to the Participant’s Account shall be distributed in cash or, at the discretion of the Committee, in Common Shares having a Fair Market Value equal to the amount of the Dividend Equivalents and interest, if any. Any accumulated and unpaid Dividend Equivalents attributable to Restricted Stock Performance Units that are cancelled will not be paid and will be immediately forfeited upon cancellation of the Restricted Stock Performance Units.
Appears in 4 contracts
Samples: Performance Stock Unit Agreement (Target Hospitality Corp.), Performance Stock Unit Agreement (Target Hospitality Corp.), Performance Stock Unit Agreement (Target Hospitality Corp.)
Rights as Shareholder; Dividend Equivalents. 6.1 The Participant shall not have any rights of a shareholder with respect to the Common Shares underlying the Restricted Stock Units unless and until the Restricted Stock Units vest and are settled by the issuance of such Common Shares. Upon and following the settlement of the Restricted Stock UnitsSubject to Section 7 below, the Participant shall be the record owner of the Common Shares underlying the Restricted Stock Units unless and until such shares are sold or otherwise disposed of, and as record owner shall be entitled to all rights of a shareholder of the Company (including voting rights).
6.2 In the event that the Company pays any cash dividends on its Common Shares between the Grant Date and the date when the Restricted Stock Units are settled in accordance with Section 7 hereof or are forfeited, the Participant’s Account shall be credited on the date such dividend is paid to shareholders with an amount equal to all cash dividends that would have been paid to the Participant if one Common Share had been issued on the Grant Date for each Restricted Stock Unit granted to the Participant (“Dividend Equivalents”). Dividend Equivalents shall be credited to the Participant’s Account and interest may be credited on the amount of cash Dividend Equivalents credited to the Participant’s Account at a rate and subject to such terms as determined by the Committee. Dividend Equivalents credited to the Participant’s Account shall be subject to the same vesting and other restrictions as the Restricted Stock Units to which they are attributable and shall be paid on the same date that the Restricted Stock Units to which they are attributable are settled in accordance with Section 7 hereof. Dividend Equivalents credited to the Participant’s Account shall be distributed in cash or, at the discretion of the Committee, in Common Shares having a Fair Market Value equal to the amount of the Dividend Equivalents and interest, if any. Any accumulated and unpaid Dividend Equivalents attributable to Restricted Stock Units that are cancelled will not be paid and will be immediately forfeited upon cancellation of the Restricted Stock Units.
Appears in 3 contracts
Samples: Restricted Stock Unit Agreement (Target Hospitality Corp.), Restricted Stock Unit Agreement (Target Hospitality Corp.), Restricted Stock Unit Agreement (Target Hospitality Corp.)
Rights as Shareholder; Dividend Equivalents. 6.1 5.1 The Participant Grantee shall not have any rights of a shareholder with respect to the shares of Common Shares Stock underlying the Restricted Stock Units unless and until the Restricted Stock Units vest and are settled by the issuance of such shares of Common Shares. Stock.
5.2 Upon and following the settlement of the Restricted Stock Units, the Participant Grantee shall be the record owner of the shares of Common Shares Stock underlying the Restricted Stock Units unless and until such shares are sold or otherwise disposed of, and as record owner shall be entitled to all rights of a shareholder of the Company (including voting rights).
6.2 In the event that the Company pays any cash dividends on its Common Shares between the Grant Date and the date when 5.3 Until the Restricted Stock Units are settled in accordance with Section 7 hereof or are forfeitedvest, the Participant’s Account there shall be credited on to an account for the date such dividend is paid to shareholders with Grantee an amount equal to all cash and stock dividends (“Dividend Equivalents”) that would have been paid to the Participant Grantee if one share of Common Share Stock had been issued on the Grant Date for each Restricted Stock Unit granted to the Participant (“Dividend Equivalents”)Grantee as set forth in this Agreement. Dividend Equivalents shall be credited to the Participant’s Account and interest may be credited on the amount of cash Dividend Equivalents credited to the Participant’s Account at a rate and subject to such terms as determined by the Committee. Dividend Equivalents credited to the Participant’s Account shall be subject to the same vesting and other restrictions as the Restricted Stock Units to which they are attributable and shall be paid on the same date that the Restricted Stock Units to which they are attributable are settled in accordance with Section 7 6 hereof. Dividend Equivalents credited to the Participant’s Account Grantee shall be distributed in cash or, at the discretion of the CommitteeBoard, in shares of Common Shares Stock having a Fair Market Value on the vesting date equal to the amount of the Dividend Equivalents and interest, if any. Any accumulated and unpaid Dividend Equivalents attributable to Restricted Stock Units that are cancelled will not be paid and will be immediately forfeited upon cancellation of the Restricted Stock Units.
Appears in 3 contracts
Samples: Restricted Stock Unit Agreement (Lough Denver), Restricted Stock Unit Agreement (Polarityte, Inc.), Restricted Stock Unit Agreement (Polarityte, Inc.)
Rights as Shareholder; Dividend Equivalents. 6.1 5.1 The Participant Grantee shall not have any rights of a shareholder with respect to the shares of Common Shares Stock underlying the Restricted Stock Units unless and until the Restricted Stock Units vest and are settled by the issuance of such shares of Common Shares. Stock.
5.2 Upon and following the settlement of the Restricted Stock Units, the Participant Grantee shall be the record owner of the shares of Common Shares Stock underlying the Restricted Stock Units unless and until such shares are sold or otherwise disposed of, and as record owner shall be entitled to all rights of a shareholder of the Company (including voting rights).
6.2 In 5.3 If, prior to the event that settlement date, the Company pays any declares a cash dividends or stock dividend on its the shares of Common Shares between Stock, then, on the Grant Date and payment date of the date when the Restricted Stock Units are settled in accordance with Section 7 hereof or are forfeiteddividend, the ParticipantGrantee’s Account shall be credited on the date such dividend is paid to shareholders with dividends in an amount and of the type equal to all cash the dividends that would have been paid to the Participant Grantee if one share of Common Share Stock had been issued on the Grant Date for each Restricted Stock Unit granted to the Participant Grantee as set forth in this Agreement (the “Dividend Equivalents”). Dividend Equivalents shall be credited to the Participant’s Account and interest may be credited on the amount of cash .
5.1 The Dividend Equivalents credited to the ParticipantGrantee’s Account will be deemed to be reinvested in additional Restricted Stock Units (rounded to the nearest whole share) at a per share rate and subject equal to the Fair Market Value of one share of Common Stock at the time such terms as determined by the Committee. Dividend Equivalents are credited to the ParticipantGrantee’s Account shall Account, and will be subject to the same vesting terms and other restrictions conditions as the Restricted Stock Units to which they are attributable and shall vest or be paid on forfeited (if applicable) at the same date that time as the Restricted Stock Units to which they are attributable attributable. Such additional Restricted Stock Units shall also be credited with additional Restricted Stock Units as any further dividends are settled in accordance with Section 7 hereofdeclared. Dividend Equivalents credited to “Fair Market Value” means, as of any date, the Participant’s Account shall be distributed in cash or, at the discretion value of the CommitteeCommon Stock as determined below. If the Common Stock is listed on any established stock exchange, in Common Shares having a national market system, or over-the-counter market, the Fair Market Value equal to shall be the amount closing price or reported price of a share of Common Stock (or if no sales were reported the Dividend Equivalents closing price or reported price on the date immediately preceding such date) as quoted on such exchange, system or market, on the day of determination. In the absence of an established market for the Common Stock, the Fair Market Value shall be determined in good faith by the Board or a committee appointed by the Board and interest, if any. Any accumulated such determination shall be conclusive and unpaid Dividend Equivalents attributable to Restricted Stock Units that are cancelled will not be paid and will be immediately forfeited upon cancellation of the Restricted Stock Unitsbinding on all persons.
Appears in 3 contracts
Samples: Restricted Stock Unit Agreement (United Health Products, Inc.), Restricted Stock Unit Agreement (United Health Products, Inc.), Restricted Stock Unit Agreement (United Health Products, Inc.)
Rights as Shareholder; Dividend Equivalents. 6.1 (a) The Participant Grantee shall not have any rights of a shareholder with respect to the shares of Common Shares Stock underlying the Restricted Stock Units PSUs unless and until the Restricted Stock Units PSUs vest and are settled by the issuance of such shares of Common Shares. Stock.
(b) Upon and following the settlement vesting of the Restricted Stock UnitsPSUs and the issuance of shares, the Participant Grantee shall be the record owner of the shares of Common Shares Stock underlying the Restricted Stock Units PSUs unless and until such shares are sold or otherwise disposed of, and as record owner shall be entitled to all rights of a shareholder of the Company (including voting and dividend rights).
6.2 In (c) During the event that the Company pays any cash dividends on its Common Shares between the Grant Date and the date when the Restricted Stock Units are settled in accordance with Section 7 hereof or are forfeitedPerformance Period, the ParticipantGrantee’s Account shall be credited on the date such dividend is paid to shareholders with an amount equal to all cash and stock dividends (“Dividend Equivalents”) that would have been paid to the Participant Grantee if one share of Common Share Stock had been issued on the Grant Date for each Restricted Stock Unit granted to PSU eventually earned by the Participant (“Dividend Equivalents”)Grantee as set forth in this Agreement. Dividend Equivalents shall be credited to the ParticipantGrantee’s Account and interest may be credited on the amount of cash Dividend Equivalents credited to the ParticipantGrantee’s Account at a rate and subject to such terms as determined by the Committee. Dividend Equivalents credited to the Participant’s Account shall be subject to the same performance conditions and vesting and other restrictions as the Restricted Stock Units PSUs to which they are attributable and attributable. Notwithstanding anything to the contrary in this Agreement, the Grantee shall only be paid on entitled to receive Dividend Equivalents credited to Xxxxxxx’s Account to the same date that extent the Restricted Grantee becomes entitled to receive the shares of Common Stock Units underlying the PSUs to which they are attributable are settled in accordance with Section 7 hereof. such Dividend Equivalents relate, and the Grantee shall forfeit any Dividend Equivalents credited to the ParticipantGrantee’s Account shall be distributed that were attributable to PSUs that did not result in cash or, at the discretion issuance of the Committee, in shares of Common Shares having a Fair Market Value equal Stock to the amount of the Dividend Equivalents and interest, if any. Any accumulated and unpaid Dividend Equivalents attributable to Restricted Stock Units that are cancelled will not be paid and will be immediately forfeited upon cancellation of the Restricted Stock UnitsGrantee.
Appears in 2 contracts
Samples: Performance Share Unit Agreement (Shyft Group, Inc.), Performance Share Unit Agreement (Shyft Group, Inc.)
Rights as Shareholder; Dividend Equivalents. 6.1 5.1 The Participant Grantee shall not have any rights of a shareholder with respect to the shares of Common Shares Stock underlying the Restricted Stock Units unless and until the Restricted Stock Units vest and are settled by the issuance of such shares of Common Shares. Stock.
5.2 Upon and following the settlement of the Restricted Stock Units, the Participant Grantee shall be the record owner of the shares of Common Shares Stock underlying the Restricted Stock Units unless and until such shares are sold or otherwise disposed of, and as record owner shall be entitled to all rights of a shareholder of the Company (including voting rights).
6.2 In 5.3 If, prior to the event that settlement date, the Company pays any declares a cash dividends or stock dividend on its the shares of Common Shares between Stock, then, on the Grant Date and payment date of the date when the Restricted Stock Units are settled in accordance with Section 7 hereof or are forfeiteddividend, the Participant’s Grantee's Account shall be credited on the date such dividend is paid to shareholders with Dividend Equivalents in an amount equal to all cash the dividends that would have been paid to the Participant Grantee if one share of Common Share Stock had been issued on the Grant Date for each Restricted Stock Unit granted to the Participant (“Dividend Equivalents”). Dividend Equivalents shall be credited to the Participant’s Account and interest may be credited on the amount of cash Grantee as set forth in this Agreement.
5.4 The Dividend Equivalents credited to the Participant’s Grantee's Account at a rate and subject will be deemed to such terms as determined by the Committee. Dividend Equivalents credited be reinvested in additional Restricted Stock Units (rounded to the Participant’s Account shall nearest whole share) and will be subject to the same vesting terms and other restrictions conditions as the Restricted Stock Units to which they are attributable and shall vest or be paid on forfeited (if applicable) at the same date that time as the Restricted Stock Units to which they are attributable are settled in accordance with Section 7 hereofattributable. Dividend Equivalents credited to the Participant’s Account shall be distributed in cash or, at the discretion of the Committee, in Common Shares having a Fair Market Value equal to the amount of the Dividend Equivalents and interest, if any. Any accumulated and unpaid Dividend Equivalents attributable to Such additional Restricted Stock Units that are cancelled will not shall also be paid and will be immediately forfeited upon cancellation of the credited with additional Restricted Stock UnitsUnits as any further dividends are declared.
Appears in 2 contracts
Samples: Restricted Stock Unit Agreement (KULR Technology Group, Inc.), Restricted Stock Unit Agreement (KULR Technology Group, Inc.)
Rights as Shareholder; Dividend Equivalents. 6.1 (a) The Participant Grantee shall not have any rights of a shareholder with respect to the shares of Common Shares Stock underlying the Restricted Stock Units unless and until the Restricted Stock Units vest and are settled by the issuance of such shares of Common Shares. Stock.
(b) Upon and following the settlement of the Restricted Stock Units, the Participant Grantee shall be the record owner of the shares of Common Shares Stock underlying the Restricted Stock Units unless and until such shares are sold or otherwise transferred or disposed ofof and, and as record owner of such shares, shall be entitled to all rights of a shareholder of the Company (including voting rights).
6.2 In (c) If, prior to the event that the Company pays any cash dividends on its Common Shares between the Grant Date and the date when settlement of the Restricted Stock Units are settled in accordance with Section 7 hereof or are forfeitedUnits, the ParticipantCompany declares a cash or stock dividend on the shares of Common Stock, then, on the payment date of the dividend, the Grantee’s Account shall be credited on the date such with dividend is paid to shareholders with equivalents in an amount equal to all the cash dividends or stock dividend that would have been paid to the Participant Grantee if one share of Common Share Stock had been issued on the Grant Award Date for each Restricted Stock Unit granted to the Participant Grantee as set forth in this Agreement (the “Dividend Equivalents”). , with the amount to be credited in respect of any stock dividend to be computed using the Fair Market Value of the Common Stock on the payment date of the dividend.
(d) Any Dividend Equivalents shall be credited to withheld by the ParticipantCompany for the Grantee’s Account and no interest may shall accrue or be credited on the amount of cash Dividend Equivalents credited to the Participant’s Account at a rate and subject to such terms as determined by the Committeepaid thereon. Dividend Equivalents credited to the Participant’s Account shall be subject to the same vesting and other forfeiture restrictions as the Restricted Stock Units to which they are attributable and shall be paid on the same date that the Restricted Stock Units to which they are attributable are settled in accordance with Section 7 hereof6. Dividend Equivalents credited to the Participanta Grantee’s Account shall be distributed in cash or, at the discretion of the Committee, in Common Shares having a Fair Market Value equal to the amount of the Dividend Equivalents and interest, if any. Any accumulated and unpaid Dividend Equivalents attributable to Restricted Stock Units that are cancelled will not be paid and will be immediately forfeited upon cancellation of the Restricted Stock Unitscash.
Appears in 2 contracts
Samples: Restricted Stock Unit Agreement (Reliant Bancorp, Inc.), Restricted Stock Unit Agreement (Reliant Bancorp, Inc.)
Rights as Shareholder; Dividend Equivalents. 6.1 (a) The Participant Grantee shall not have any rights of a shareholder with respect to the shares of Common Shares Stock underlying the Restricted Stock Units PSUs unless and until the Restricted Stock Units PSUs vest and are settled by the issuance of such shares of Common Shares. Stock.
(b) Upon and following the settlement vesting of the Restricted Stock UnitsPSUs and the issuance of shares, the Participant Grantee shall be the record owner of the shares of Common Shares Stock underlying the Restricted Stock Units PSUs unless and until such shares are sold or otherwise disposed of, and as record owner shall be entitled to all rights of a shareholder of the Company (including voting and dividend rights).
6.2 In (c) During the event that the Company pays any cash dividends on its Common Shares between the Grant Date and the date when the Restricted Stock Units are settled in accordance with Section 7 hereof or are forfeitedPerformance Period, the ParticipantGrantee’s Account shall be credited on the date such dividend is paid to shareholders with an amount equal to all cash and stock dividends (“Dividend Equivalents”) that would have been paid to the Participant Grantee if one share of Common Share Stock had been issued on the Grant Date for each Restricted Stock Unit PSU granted to the Participant (“Dividend Equivalents”)Grantee as set forth in this Agreement. Dividend Equivalents shall be credited to the ParticipantGrantee’s Account and interest may be credited on the amount of cash Dividend Equivalents credited to the ParticipantGrantee’s Account at a rate and subject to such terms as determined by the Committee. Dividend Equivalents credited to the Participant’s Account shall be subject to the same performance conditions and vesting and other restrictions as the Restricted Stock Units PSUs to which they are attributable and attributable. Notwithstanding anything to the contrary in this Agreement, the Grantee shall only be paid on entitled to receive Dividend Equivalents credited to Grantee’s Account to the same date that extent the Restricted Grantee becomes entitled to receive the shares of Common Stock Units underlying the PSUs to which they are attributable are settled in accordance with Section 7 hereof. such Dividend Equivalents relate, and the Grantee shall forfeit any Dividend Equivalents credited to the ParticipantGrantee’s Account shall be distributed that were attributable to PSUs that did not result in cash or, at the discretion issuance of the Committee, in shares of Common Shares having a Fair Market Value equal Stock to the amount of the Dividend Equivalents and interest, if any. Any accumulated and unpaid Dividend Equivalents attributable to Restricted Stock Units that are cancelled will not be paid and will be immediately forfeited upon cancellation of the Restricted Stock UnitsGrantee.
Appears in 2 contracts
Samples: Performance Share Unit Agreement (Shyft Group, Inc.), Performance Share Unit Agreement (Shyft Group, Inc.)
Rights as Shareholder; Dividend Equivalents. 6.1 5.1 The Participant Grantee shall not have any rights of a shareholder with respect to the shares of Common Shares Stock underlying the Restricted Stock Units unless and until the Restricted Stock Units vest and are settled by the issuance of such shares of Common Shares. Stock.
5.2 Upon and following the settlement of the Restricted Stock Units, the Participant Grantee shall be the record owner of the shares of Common Shares Stock underlying the Restricted Stock Units unless and until such shares are sold or otherwise disposed of, and as record owner shall be entitled to all rights of a shareholder of the Company (including voting rights).
6.2 In the event that the Company pays any cash dividends on its Common Shares between the Grant Date and the date when 5.3 Until such time as the Restricted Stock Units are settled in accordance with Section 7 hereof or are forfeitedvest, the Participant’s Grantee's Account shall be credited on the date such dividend is paid to shareholders with an amount equal to all cash and stock dividends ("Dividend Equivalents") that would have been paid to the Participant Grantee if one share of Common Share Stock had been issued on the Grant Award Date for each Award of Restricted Stock Unit granted made to the Participant (“Dividend Equivalents”)Grantee as set forth in this Agreement. Dividend Equivalents shall be credited to withheld by the Participant’s Company for the Grantee's Account and interest may be credited on the amount of cash Dividend Equivalents credited to the Participant’s Account withheld at a rate and subject to such terms as determined by the Committee. Dividend Equivalents credited to the Participant’s Account shall be subject to the same vesting and other restrictions as the Restricted Stock Units to which they are attributable in accordance with Section 3 and shall be paid on the same date that the Restricted Stock Units to which they are attributable are settled in accordance with Section 7 hereof. 6 hereof Dividend Equivalents credited to the Participant’s a Grantee's Account shall be distributed in cash or, at the discretion of the Committee, in whole or in part in shares of Common Shares Stock having a Fair Market Value equal to the amount of the Dividend Equivalents and interest, if any. Any accumulated and unpaid Dividend Equivalents attributable to Restricted Stock Units that are cancelled will not be paid and will be immediately forfeited upon cancellation of the Restricted Stock Units.
Appears in 2 contracts
Samples: Restricted Stock Unit Agreement (Symbid Corp.), Restricted Stock Unit Agreement (Symbid Corp.)
Rights as Shareholder; Dividend Equivalents. 6.1 5.1 The Participant Grantee shall not have any rights of a shareholder with respect to the shares of Common Shares Stock underlying the Restricted Stock Units unless and until the Restricted Stock Units vest and are settled by the issuance of such shares of Common Shares. Stock.
5.2 Upon and following the settlement of the Restricted Stock Units, the Participant Grantee shall be the record owner of the shares of Common Shares Stock underlying the Restricted Stock Units unless and until such shares are sold or otherwise disposed of, and as record owner shall be entitled to all rights of a shareholder of the Company (including voting rights).
6.2 In 5.3 If, prior to the event that settlement date, the Company pays any declares a cash dividends dividend on its the shares of Common Shares between Stock, then, on the Grant Date and payment date of the date when the Restricted Stock Units are settled in accordance with Section 7 hereof or are forfeiteddividend, the Participant’s Grantee's Account shall be credited on the date such dividend is paid to shareholders with Dividend Equivalents in an amount equal to all cash the dividends that would have been paid to the Participant Grantee if one share of Common Share Stock had been issued on the Grant Date for each Restricted Stock Unit granted to the Participant (“Dividend Equivalents”). Grantee as set forth in this Agreement.
5.4 Dividend Equivalents shall be credited to withheld by the Participant’s Company for the Grantee's Account and interest may be credited on the amount of cash Dividend Equivalents credited to the Participant’s Account withheld at a rate and subject to such terms as determined by the Committee. Dividend Equivalents credited to the Participant’s Account shall be subject to the same vesting and other forfeiture restrictions as the Restricted Stock Units to which they are attributable and shall be paid on the same date that the Restricted Stock Units to which they are attributable are settled in accordance with Section 7 6 hereof. Dividend Equivalents credited to the Participant’s a Grantee's Account shall be distributed in cash or, at the discretion of the Committee, in shares of Common Shares Stock having a Fair Market Value equal to the amount of the Dividend Equivalents and interest, if any. Any accumulated and unpaid Dividend Equivalents attributable to Restricted Stock Units that are cancelled will not be paid and will be immediately forfeited upon cancellation of the Restricted Stock Units.
Appears in 2 contracts
Samples: Restricted Stock Unit Agreement (HomeStreet, Inc.), Restricted Stock Unit Agreement (HomeStreet, Inc.)
Rights as Shareholder; Dividend Equivalents. 6.1 5.1 The Participant Director shall not have any rights of a shareholder with respect to the shares of Common Shares Stock underlying the Restricted Stock Units unless and until the Restricted Stock Units vest and are settled by the issuance of such shares of Common Shares. Stock.
5.2 Upon and following the settlement of the Restricted Stock Units, the Participant Director shall be the record owner of the shares of Common Shares Stock underlying the Restricted Stock Units unless and until such shares are sold or otherwise disposed of, and as record owner shall be entitled to all rights of a shareholder of the Company (including voting rights).
6.2 In the event that the Company pays any cash dividends on its Common Shares between the Grant Date and the date when 5.3 [Until such time as the Restricted Stock Units are settled in accordance with Section 7 hereof or are forfeitedvest, the ParticipantDirector’s Account shall be credited on the date such dividend is paid to shareholders with an amount equal to all cash [and stock] dividends (“Dividend Equivalents”) that would have been paid to the Participant Director if one share of Common Share Stock had been issued on the Grant Date for each Restricted Stock Unit granted to the Participant (“Dividend Equivalents”)Director as set forth in this Agreement. [Dividend Equivalents shall be credited to withheld by the ParticipantCompany for the Director’s Account and interest may be credited on the amount of cash Dividend Equivalents credited to the Participant’s Account withheld at a rate and subject to such terms as determined by the Committee. Dividend Equivalents credited to the Participant’s Account shall be subject to the same vesting and other restrictions as the Restricted Stock Units to which they are attributable and shall be paid on the same date that the Restricted Stock Units to which they are attributable are settled in accordance with Section 7 6 hereof. /Dividend Equivalents shall be paid in the same year that dividends are paid to shareholders.] Dividend Equivalents credited to the Participanta Director’s Account shall be distributed in cash or, at the discretion of the Committee, in shares of Common Shares Stock having a Fair Market Value equal to the amount of the Dividend Equivalents and interest, if any. Any accumulated and unpaid Dividend Equivalents attributable to Restricted Stock Units that are cancelled will not be paid and will be immediately forfeited upon cancellation of the Restricted Stock Units.]
Appears in 1 contract
Samples: Restricted Stock Unit Agreement (WESTMORELAND COAL Co)
Rights as Shareholder; Dividend Equivalents. 6.1 7.1 The Participant Grantee shall not have any rights of a shareholder with respect to the shares of Common Shares Stock underlying the Restricted Stock Units unless and until the Restricted Stock Units vest and are settled by the issuance of such shares of Common Shares. Stock.
7.2 Upon and following the settlement of the Restricted Stock Units, the Participant Grantee shall be the record owner of the shares of Common Shares Stock underlying the Restricted Stock Units unless and until such shares are sold or otherwise disposed of, and as record owner shall be entitled to all rights of a shareholder of the Company (including voting rights).
6.2 In the event that the Company pays any cash dividends on its Common Shares between the Grant Date and the date when 7.3 [Until such time as the Restricted Stock Units are settled in accordance with Section 7 hereof or are forfeitedvest, the ParticipantGrantee’s Account shall be credited on the date such dividend is paid to shareholders with an amount equal to all cash [and stock] dividends (“Dividend Equivalents”) that would have been paid to the Participant Grantee if one share of Common Share Stock had been issued on the Grant Date for each Restricted Stock Unit granted to the Participant (“Dividend Equivalents”)Grantee as set forth in this Agreement. [Dividend Equivalents shall be credited to withheld by the ParticipantCompany for the Grantee’s Account and interest may be credited on the amount of cash Dividend Equivalents credited to the Participant’s Account withheld at a rate and subject to such terms as determined by the Committee. Dividend Equivalents credited to the Participant’s Account shall be subject to the same vesting and other restrictions as the Restricted Stock Units to which they are attributable and shall be paid on the same date that the Restricted Stock Units to which they are attributable are settled in accordance with Section 7 8 hereof. /Dividend Equivalents shall be paid in the same year that dividends are paid to shareholders.] Dividend Equivalents credited to the Participanta Grantee’s Account shall be distributed in cash or, at the discretion of the Committee, in shares of Common Shares Stock having a Fair Market Value equal to the amount of the Dividend Equivalents and interest, if any. Any accumulated and unpaid Dividend Equivalents attributable to Restricted Stock Units that are cancelled will not be paid and will be immediately forfeited upon cancellation of the Restricted Stock Units.]
Appears in 1 contract
Samples: Restricted Stock Unit Agreement (WESTMORELAND COAL Co)
Rights as Shareholder; Dividend Equivalents. 6.1 5.1 The Participant Grantee shall not have any rights of a shareholder with respect to the shares of Common Shares Stock underlying the Restricted Stock Units unless and until the Restricted Stock Units vest and are settled by the issuance of such shares of Common Shares. Stock.
5.2 Upon and following the settlement of the Restricted Stock Units, the Participant Grantee shall be the record owner of the shares of Common Shares Stock underlying the Restricted Stock Units unless and until such shares are sold or otherwise disposed of, and as record owner shall be entitled to all rights of a shareholder of the Company (including voting rights).
6.2 In 5.3 If, prior to the event that settlement date, the Company pays any declares a cash dividends or stock dividend on its the shares of Common Shares between Stock, then, on the Grant Date and payment date of the date when the Restricted Stock Units are settled in accordance with Section 7 hereof or are forfeiteddividend, the ParticipantGrantee’s Account shall be credited on the date such dividend is paid to shareholders with Dividend Equivalents in an amount equal to all cash the dividends that would have been paid to the Participant Grantee if one share of Common Share Stock had been issued on the Grant Date for each Restricted Stock Unit granted to the Participant (“Dividend Equivalents”). Dividend Equivalents shall be credited to the Participant’s Account and interest may be credited on the amount of cash Grantee as set forth in this Agreement.
5.4 The Dividend Equivalents credited to the ParticipantGrantee’s Account at a rate and subject will be deemed to such terms as determined by the Committee. Dividend Equivalents credited be reinvested in additional Restricted Stock Units (rounded to the Participant’s Account shall nearest whole share) and will be subject to the same vesting terms and other restrictions conditions as the Restricted Stock Units to which they are attributable and shall vest or be paid on forfeited (if applicable) at the same date that time as the Restricted Stock Units to which they are attributable are settled in accordance with Section 7 hereofattributable. Dividend Equivalents credited to the Participant’s Account shall be distributed in cash or, at the discretion of the Committee, in Common Shares having a Fair Market Value equal to the amount of the Dividend Equivalents and interest, if any. Any accumulated and unpaid Dividend Equivalents attributable to Such additional Restricted Stock Units that are cancelled will not shall also be paid and will be immediately forfeited upon cancellation of the credited with additional Restricted Stock UnitsUnits as any further dividends are declared.
Appears in 1 contract
Rights as Shareholder; Dividend Equivalents. 6.1 5.1 The Participant Grantee shall not have any rights of a shareholder with respect to the shares of Common Shares Stock underlying the Restricted Stock Units unless and until the Restricted Stock Units vest and are settled by the issuance of such shares of Common Shares. Stock.
5.2 Upon and following the settlement of the Restricted Stock Units, the Participant Grantee shall be the record owner of the shares of Common Shares Stock underlying the Restricted Stock Units unless and until such shares are sold or otherwise disposed of, and as record owner shall be entitled to all rights of a shareholder of the Company (including voting rights).
6.2 In the event that the Company pays any cash dividends on its Common Shares between the Grant Date and the date when 5.3 Until such time as the Restricted Stock Units are settled in accordance with Section 7 hereof or are forfeitedvest, the ParticipantGrantee’s Account shall be credited on the date such dividend is paid to shareholders with an amount equal to all cash and stock dividends (“Dividend Equivalents”) that would have been paid to the Participant Grantee if one share of Common Share Stock had been issued on the Grant Date for each Restricted Stock Unit granted to the Participant (“Dividend Equivalents”)Grantee as set forth in this Agreement. Dividend Equivalents shall be credited to withheld by the ParticipantCompany for the Grantee’s Account and interest may be credited on the amount of cash Dividend Equivalents credited to the Participant’s Account withheld at a rate and subject to such terms as determined by the Committee. Dividend Equivalents credited to the Participant’s Account shall be subject to the same vesting and other restrictions as the Restricted Stock Units to which they are attributable and shall be paid on the same date that the Restricted Stock Units to which they are attributable are settled in accordance with Section 7 6 hereof. Dividend Equivalents credited to the Participant’s Account shall be distributed in cash or, at the discretion of the Committee, in Common Shares having a Fair Market Value equal to the amount of the Dividend Equivalents and interest, if any. Any accumulated and unpaid Dividend Equivalents attributable to Restricted Stock Units that are cancelled will not be paid and will be immediately forfeited upon cancellation of the Restricted Stock Units.
Appears in 1 contract
Samples: Restricted Stock Unit Agreement (WESTMORELAND COAL Co)
Rights as Shareholder; Dividend Equivalents. 6.1 8.1 The Participant Grantee shall not have any rights of a shareholder with respect to the shares of Common Shares Stock underlying the Restricted Stock Units PSUs, including, but not limited to, voting rights and the right to receive or accrue dividends or dividend equivalents unless and until Shares are issued in respect of vested PSUs.
8.2 The Grantee shall be credited with a right to compensation measured by dividends paid to stockholders with respect to shares of Common Stock (“Dividend Equivalent Rights”) on the Restricted Stock Units vest and are settled PSUs with respect to ordinary cash dividends paid by the issuance Company if the record date for such dividends is within the period beginning on the Grant Date and ending on the date shares of Common Stock are issued in respect of vested PSUs. Any such Dividend Equivalent Rights shall be accumulated (without interest) and shall be subject to the same terms and conditions as are applicable to the PSUs to which the Dividend Equivalent Rights relate, including, without limitation, the restrictions on transfer, forfeiture, vesting and payment provisions. Any earned Dividend Equivalent Rights, if any, shall be paid in cash on the date shares of Common Shares. Stock are issued in respect of the vested PSUs to which the Dividend Equivalents relate.
8.3 Upon and following the settlement vesting of the Restricted Stock UnitsPSUs and the issuance of shares, the Participant Grantee shall be the record owner of the shares of Common Shares Stock underlying the Restricted Stock Units PSUs unless and until such shares are sold or otherwise disposed of, and as record owner shall be entitled to all rights of a shareholder of the Company (including voting and dividend rights).
6.2 In 8.4 Before issuance of any shares of Common Stock in respect of vested PSUs, the event that PSUs will represent an unfunded and unsecured obligation of the Company, payable (if at all) only from the general assets of the Company. This Grant Agreement creates only a contractual obligation on the part of the Company pays any cash dividends on its Common Shares between the Grant Date and the date when the Restricted Stock Units are settled in accordance with Section 7 hereof or are forfeited, the Participant’s Account shall be credited on the date such dividend is paid as to shareholders with an amount equal to all cash dividends that would have been paid to the Participant if one Common Share had been issued on the Grant Date for each Restricted Stock Unit granted to the Participant (“Dividend Equivalents”). Dividend Equivalents shall be credited to the Participant’s Account and interest may be credited on the amount of cash Dividend Equivalents credited to the Participant’s Account at a rate and subject to such terms as determined by the Committee. Dividend Equivalents credited to the Participant’s Account shall be subject to the same vesting and other restrictions as the Restricted Stock Units to which they are attributable amounts payable and shall be paid on the same date that the Restricted Stock Units to which they are attributable are settled in accordance with Section 7 hereof. Dividend Equivalents credited to the Participant’s Account shall be distributed in cash or, at the discretion of the Committee, in Common Shares having a Fair Market Value equal to the amount of the Dividend Equivalents and interest, if any. Any accumulated and unpaid Dividend Equivalents attributable to Restricted Stock Units that are cancelled will not be paid and will be immediately forfeited upon cancellation of the Restricted Stock Unitsconstrued as creating a trust.
Appears in 1 contract
Samples: Performance Share Unit Agreement (J&j Snack Foods Corp)
Rights as Shareholder; Dividend Equivalents. 6.1 The Participant shall not have any rights of a shareholder with respect to the Common Shares underlying the Restricted Stock Performance Units unless and until the Restricted Stock Performance Units vest and are settled by the issuance of such Common Shares. Upon and following the settlement of the Restricted Stock Units, Subject to Section 7 below, the Participant shall be the record owner of the Common Shares underlying the Restricted Stock Performance Units unless and until such shares are sold or otherwise disposed of, and as record owner shall be entitled to all rights of a shareholder of the Company (including voting rights).
6.2 In the event that the Company pays any cash dividends on its Common Shares between the Grant Date and the date when the Restricted Stock Performance Units are settled in accordance with Section 7 hereof or are forfeited, the Participant’s Account shall be credited on the date such dividend is paid to shareholders with an amount equal to all cash dividends that would have been paid to the Participant if one Common Share had been issued on the Grant Date for each Restricted Stock Performance Unit granted to the Participant (“Dividend Equivalents”). Dividend Equivalents shall be credited to the Participant’s Account and interest may be credited on the amount of cash Dividend Equivalents credited to the Participant’s Account at a rate and subject to such terms as determined by the Committee. Dividend Equivalents credited to the Participant’s Account shall be subject to the same vesting and other restrictions as the Restricted Stock Performance Units to which they are attributable and shall be paid on the same date that the Restricted Stock Performance Units to which they are attributable are settled in accordance with Section 7 hereof. Dividend Equivalents credited to the Participant’s Account shall be distributed in cash or, at the discretion of the Committee, in Common Shares having a Fair Market Value equal to the amount of the Dividend Equivalents and interest, if any. Any accumulated and unpaid Dividend Equivalents attributable to Restricted Stock Performance Units that are cancelled will not be paid and will be immediately forfeited upon cancellation of the Restricted Stock Performance Units.
Appears in 1 contract
Samples: Performance Stock Unit Agreement (Target Hospitality Corp.)
Rights as Shareholder; Dividend Equivalents. 6.1 5.1 The Participant shall not have any rights of a shareholder with respect to the Common Shares underlying the Restricted Stock Units (including, without limitation, any voting rights or any right to dividends paid with respect to the Shares underlying the Restricted Stock Units) unless and until the Restricted Stock Units vest and are settled by the issuance of such Common Shares. Shares in accordance with Section 6 of this Agreement.
5.2 Upon and following the settlement of the Restricted Stock Units, the Participant shall be the record owner of the Common Shares underlying the Restricted Stock Units unless and until such shares Shares are sold or otherwise disposed of, and as record owner shall be entitled to all rights of a shareholder of the Company (including voting rights)Company. _________________________ 1NTD: Include for individuals with “Good Reason” provision in their employment agreement. 2NTD: Include for individuals with “Good Reason” provision in their employment agreement.
6.2 In 5.3 If, during the event that vesting period provided in Section 3, the Company pays any declares a cash dividends dividend on its Common Shares between the Grant Date and Shares, then, on the payment date when of the Restricted Stock Units are settled in accordance with Section 7 hereof or are forfeiteddividend, the Participant’s Account shall be credited on the date such dividend is paid to shareholders with Dividend Equivalents in an amount equal to all cash the dividends that would have been paid to the Participant if one Common Share had been issued on the Grant Date for each Restricted Stock Unit granted to the Participant (“as set forth in this Agreement based the Target Award. At the end of the Performance Period and prior to payment of such Dividend Equivalents”). Dividend Equivalents shall be credited to the Participant’s Account and interest may be credited on , the amount of cash Dividend Equivalents credited to the Participant’s Account at a rate and subject to such terms as determined by the Committee. Dividend Equivalents credited to the Participant’s Account shall be increased or decreased in the same proportion as the adjustment made to the Target Award when determining the amount of Vested Units (based on the Company’s performance as described in Section 3.1 and Appendix A). Dividend Equivalents shall be subject to the same vesting and other forfeiture restrictions as the Restricted Stock Units to which they are attributable and shall be paid paid, without adjustment for any earnings or interest, on the same date that the Restricted Stock Units to which they are attributable are settled in accordance with Section 7 hereof6 of this Agreement. Dividend Equivalents credited to the a Participant’s Account shall be distributed in cash or, at the discretion of the Committee, in Common Shares having a Fair Market Value equal to the amount of the cash. Dividend Equivalents and interest, if any. Any accumulated and unpaid Dividend Equivalents attributable to Restricted Stock Units that are cancelled will shall not be paid and will be immediately forfeited upon cancellation of the Restricted Stock Unitseligible for dividend reinvestment.
Appears in 1 contract
Samples: Restricted Stock Unit Agreement (Americold Realty Trust)
Rights as Shareholder; Dividend Equivalents. 6.1 (a) The Participant Grantee shall not have any rights of a shareholder with respect to the shares of Common Shares Stock underlying the Restricted Stock Units PSUs unless and until the Restricted Stock Units PSUs vest and are settled by the issuance of such shares of Common Shares. Stock.
(b) Upon and following the settlement vesting of the Restricted Stock UnitsPSUs and the issuance of shares, the Participant Grantee shall be the record owner of the shares of Common Shares Stock underlying the Restricted Stock Units PSUs unless and until such shares are sold or otherwise disposed of, and as record owner shall be entitled to all rights of a shareholder of the Company (including voting and dividend rights).
6.2 In (c) During the event that the Company pays any cash dividends on its Common Shares between the Grant Date and the date when the Restricted Stock Units are settled in accordance with Section 7 hereof or are forfeitedPerformance Period, the ParticipantGrantee’s Account shall be credited on the date such dividend is paid to shareholders with an amount equal to all cash and stock dividends (“Dividend Equivalents”) that would have been paid to the Participant Grantee if one share of Common Share Stock had been issued on the Grant Date for each Restricted Stock Unit PSU granted to the Participant (“Dividend Equivalents”)Grantee as set forth in this Agreement. Dividend Equivalents shall be credited to the ParticipantGrantee’s Account and interest may be credited on the amount of cash Dividend Equivalents credited to the ParticipantGrantee’s Account at a rate and subject to such terms as determined by the Committee. Dividend Equivalents credited to the Participant’s Account shall be subject to the same performance conditions and vesting and other restrictions as the Restricted Stock Units PSUs to which they are attributable and attributable. Notwithstanding anything to the contrary in this Agreement, the Grantee shall only be paid on entitled to receive Dividend Equivalents credited to his or her Account to the same date that extent the Restricted Grantee becomes entitled to receive the shares of Common Stock Units underlying the PSUs to which they are attributable are settled in accordance with Section 7 hereof. such Dividend Equivalents relate, and the Grantee shall forfeit any Dividend Equivalents credited to the ParticipantGrantee’s Account shall be distributed that were attributable to PSUs that did not result in cash or, at the discretion issuance of the Committee, in shares of Common Shares having a Fair Market Value equal Stock to the amount of the Dividend Equivalents and interest, if any. Any accumulated and unpaid Dividend Equivalents attributable to Restricted Stock Units that are cancelled will not be paid and will be immediately forfeited upon cancellation of the Restricted Stock UnitsGrantee.
Appears in 1 contract
Samples: Performance Share Unit Agreement (Spartan Motors Inc)
Rights as Shareholder; Dividend Equivalents. 6.1 5.1 The Participant Grantee shall not have any rights of a shareholder with respect to the shares of Common Shares Stock underlying the Restricted Stock Units unless and until the Restricted Stock Units vest and are settled by the issuance of such shares of Common Shares. Stock.
5.2 Upon and following the settlement of the Restricted Stock Units, the Participant Grantee shall be the record owner of the shares of Common Shares Stock underlying the Restricted Stock Units unless and until such shares are sold or otherwise disposed of, and as record owner shall be entitled to all rights of a shareholder of the Company (including voting rights).
6.2 In the event that the Company pays any cash dividends on its Common Shares between the Grant Date and the date when 5.3 [Until such time as the Restricted Stock Units are settled in accordance with Section 7 hereof or are forfeitedvest, the ParticipantGrantee’s Account shall be credited on the date such dividend is paid to shareholders with an amount equal to all cash [and stock] dividends (“Dividend Equivalents”) that would have been paid to the Participant Grantee if one share of Common Share Stock had been issued on the Grant Date for each Restricted Stock Unit granted to the Participant (“Dividend Equivalents”)Grantee as set forth in this Agreement. [Dividend Equivalents shall be credited to withheld by the ParticipantCompany for the Grantee’s Account and interest may be credited on the amount of cash Dividend Equivalents credited to the Participant’s Account withheld at a rate and subject to such terms as determined by the Committee. Dividend Equivalents credited to the Participant’s Account shall be subject to the same vesting and other restrictions as the Restricted Stock Units to which they are attributable and shall be paid on the same date that the Restricted Stock Units to which they are attributable are settled in accordance with Section 7 6 hereof. /Dividend Equivalents shall be paid in the same year that dividends are paid to shareholders.] Dividend Equivalents credited to the Participanta Grantee’s Account shall be distributed in cash or, at the discretion of the Committee, in shares of Common Shares Stock having a Fair Market Value equal to the amount of the Dividend Equivalents and interest, if any. Any accumulated and unpaid Dividend Equivalents attributable to Restricted Stock Units that are cancelled will not be paid and will be immediately forfeited upon cancellation of the Restricted Stock Units.]
Appears in 1 contract
Samples: Restricted Stock Unit Agreement (WESTMORELAND COAL Co)
Rights as Shareholder; Dividend Equivalents. 6.1 5.1 The Participant shall not have any rights of a shareholder with respect to the Common Shares underlying the Restricted Stock Units (including, without limitation, any voting rights or any right to dividends paid with respect to the Shares underlying the Restricted Stock Units) unless and until the Restricted Stock Units vest and are settled by the issuance of such Common Shares. Shares in accordance with Section 6 of this Agreement.
5.2 Upon and following the settlement of the Restricted Stock Units, the Participant shall be the record owner of the Common Shares underlying the Restricted Stock Units unless and until such shares Shares are sold or otherwise disposed of, and as record owner shall be entitled to all rights of a shareholder of the Company (including voting rights)Company.
6.2 In 5.3 If, during the event that vesting period provided in Section 3, the Company pays any declares a cash dividends dividend on its Common Shares between the Grant Date and Shares, then, on the payment date when of the Restricted Stock Units are settled in accordance with Section 7 hereof or are forfeiteddividend, the Participant’s Account shall be credited on the date such dividend is paid to shareholders with Dividend Equivalents in an amount equal to all cash the dividends that would have been paid to the Participant if one Common Share had been issued on the Grant Date for each Restricted Stock Unit granted to the Participant (“as set forth in this Agreement based the Target Award. At the end of the Performance Period and prior to payment of such Dividend Equivalents”). Dividend Equivalents shall be credited to the Participant’s Account and interest may be credited on , the amount of cash Dividend Equivalents credited to the Participant’s Account at a rate and subject to such terms as determined by the Committee. Dividend Equivalents credited to the Participant’s Account shall be increased or decreased in the same proportion as the adjustment made to the Target Award when determining the number of Vested Units (based on the Company’s performance as described in Section 3.1 and Appendix A). Dividend Equivalents shall be subject to the same vesting and other forfeiture restrictions as the Restricted Stock Units to which they are attributable and shall be paid paid, without adjustment for any earnings or interest, on the same date that the Restricted Stock Units to which they are attributable are settled in accordance with Section 7 hereof6 of this Agreement. Dividend Equivalents credited to the a Participant’s Account shall be distributed in cash or, at the discretion of the Committee, in Common Shares having a Fair Market Value equal to the amount of the cash. Dividend Equivalents and interest, if any. Any accumulated and unpaid Dividend Equivalents attributable to Restricted Stock Units that are cancelled will shall not be paid and will be immediately forfeited upon cancellation of the Restricted Stock Unitseligible for dividend reinvestment.
Appears in 1 contract
Samples: Restricted Stock Unit Agreement (Americold Realty Trust)
Rights as Shareholder; Dividend Equivalents. 6.1 (a) The Participant Grantee shall not have any rights of a shareholder with respect to the shares of Common Shares Stock underlying the Restricted Stock Units PSUs unless and until the Restricted Stock Units PSUs vest and are settled by the issuance of such shares of Common Shares. Stock.
(b) Upon and following the settlement vesting of the Restricted Stock UnitsPSUs and the issuance of shares, the Participant Grantee shall be the record owner of the shares of Common Shares Stock underlying the Restricted Stock Units PSUs unless and until such shares are sold or otherwise disposed of, and as record owner shall be entitled to all rights of a shareholder of the Company (including voting and dividend rights).
6.2 In (c) During the event that the Company pays any cash dividends on its Common Shares between the Grant Date and the date when the Restricted Stock Units are settled in accordance with Section 7 hereof or are forfeitedPerformance Period, the ParticipantGrantee’s Account shall be credited on the date such dividend is paid to shareholders with an amount equal to all cash and stock dividends (“Dividend Equivalents”) that would have been paid to the Participant Grantee if one share of Common Share Stock had been issued on the Grant Date for each Restricted Stock Unit granted to PSU eventually earned by the Participant (“Dividend Equivalents”)Grantee as set forth in this Agreement. Dividend Equivalents shall be credited to the ParticipantGrantee’s Account and interest may be credited on the amount of cash Dividend Equivalents credited to the ParticipantGrantee’s Account at a rate and subject to such terms as determined by the Committee. Dividend Equivalents credited to the Participant’s Account shall be subject to the same performance conditions and vesting and other restrictions as the Restricted Stock Units PSUs to which they are attributable and attributable. Notwithstanding anything to the contrary in this Agreement, the Grantee shall only be paid on entitled to receive Dividend Equivalents credited to Gxxxxxx’s Account to the same date that extent the Restricted Grantee becomes entitled to receive the shares of Common Stock Units underlying the PSUs to which they are attributable are settled in accordance with Section 7 hereof. such Dividend Equivalents relate, and the Grantee shall forfeit any Dividend Equivalents credited to the ParticipantGrantee’s Account shall be distributed that were attributable to PSUs that did not result in cash or, at the discretion issuance of the Committee, in shares of Common Shares having a Fair Market Value equal Stock to the amount of the Dividend Equivalents and interest, if any. Any accumulated and unpaid Dividend Equivalents attributable to Restricted Stock Units that are cancelled will not be paid and will be immediately forfeited upon cancellation of the Restricted Stock UnitsGrantee.
Appears in 1 contract
Samples: Performance Share Unit Agreement (Shyft Group, Inc.)
Rights as Shareholder; Dividend Equivalents. 6.1 5.1 The Participant Grantee shall not have any rights of a shareholder with respect to the shares of Common Shares Stock underlying the Restricted Stock Units unless and until the Restricted Stock Units vest and are settled by the issuance of such shares of Common Shares. Stock.
5.2 Upon and following the settlement of the Restricted Stock Units, the Participant Grantee shall be the record owner of the shares of Common Shares Stock underlying the Restricted Stock Units unless and until such shares are sold or otherwise disposed of, and as record owner shall be entitled to all rights of a shareholder of the Company (including voting rights).
6.2 In 5.3 If, prior to the event that settlement date, the Company pays any declares a cash dividends or stock dividend on its the shares of Common Shares between Stock, then, on the Grant Date and payment date of the date when the Restricted Stock Units are settled in accordance with Section 7 hereof or are forfeiteddividend, the Participant’s Grantee's Account shall be credited on the date such dividend is paid to shareholders with dividends in an amount and of the type equal to all cash the dividends that would have been paid to the Participant Grantee if one share of Common Share Stock had been issued on the Initial Grant Date for each Restricted Stock Unit granted to the Participant Grantee as set forth in this Agreement (the “Dividend Equivalents”). Dividend Equivalents shall be credited to the Participant’s Account and interest may be credited on the amount of cash .
5.1 The Dividend Equivalents credited to the Participant’s Grantee's Account will be deemed to be reinvested in additional Restricted Stock Units (rounded to the nearest whole share) at a per share rate and subject equal to the Fair Market Value of one share of Common Stock at the time such terms as determined by the Committee. Dividend Equivalents are credited to the Participant’s Account shall Grantee's Account, and will be subject to the same vesting terms and other restrictions conditions as the Restricted Stock Units to which they are attributable and shall vest or be paid on forfeited (if applicable) at the same date that time as the Restricted Stock Units to which they are attributable attributable. Such additional Restricted Stock Units shall also be credited with additional Restricted Stock Units as any further dividends are settled in accordance with Section 7 hereofdeclared. Dividend Equivalents credited to "Fair Market Value" means, as of any date, the Participant’s Account shall be distributed in cash or, at the discretion value of the CommitteeCommon Stock as determined below. If the Common Stock is listed on any established stock exchange, in Common Shares having a national market system, or over-the-counter market, the Fair Market Value equal to shall be the amount closing price or reported price of a share of Common Stock (or if no sales were reported the Dividend Equivalents closing price or reported price on the date immediately preceding such date) as quoted on such exchange, system or market, on the day of determination. In the absence of an established market for the Common Stock, the Fair Market Value shall be determined in good faith by the Board or a committee appointed by the Board and interest, if any. Any accumulated such determination shall be conclusive and unpaid Dividend Equivalents attributable to Restricted Stock Units that are cancelled will not be paid and will be immediately forfeited upon cancellation of the Restricted Stock Unitsbinding on all persons.
Appears in 1 contract
Samples: Restricted Stock Unit Agreement (United Health Products, Inc.)
Rights as Shareholder; Dividend Equivalents. 6.1 The Participant shall not have any rights of a shareholder with respect to the Common Shares underlying the Restricted Stock Units unless and until the Restricted Stock Units vest and are settled by the issuance of such Common Shares. Upon Subject to Section 7 below, upon and following the settlement of the Restricted Stock Units, the Participant shall be the record owner of the Common Shares underlying the Restricted Stock Units unless and until such shares are sold or otherwise disposed of, and as record owner shall be entitled to all rights of a shareholder of the Company (including voting rights).
6.2 In the event that the Company pays any cash dividends on its Common Shares between the Grant Date and the date when the Restricted Stock Units are settled in accordance with Section 7 hereof or are forfeited, the Participant’s Account shall be credited on the date such dividend is paid to shareholders with an amount equal to all cash dividends that would have been paid to the Participant if one Common Share had been issued on the Grant Date for each Restricted Stock Unit granted to the Participant (“Dividend Equivalents”). Dividend Equivalents shall be credited to the Participant’s Account and interest may be credited on the amount of cash Dividend Equivalents credited to the Participant’s Account at a rate and subject to such terms as determined by the Committee. Dividend Equivalents credited to the Participant’s Account shall be subject to the same vesting and other restrictions as the Restricted Stock Units to which they are attributable and shall be paid on the same date that the Restricted Stock Units to which they are attributable are settled in accordance with Section 7 hereof. Dividend Equivalents credited to the Participant’s Account shall be distributed in cash or, at the discretion of the Committee, in Common Shares having a Fair Market Value equal to the amount of the Dividend Equivalents and interest, if any. Any accumulated and unpaid Dividend Equivalents attributable to Restricted Stock Units that are cancelled will not be paid and will be immediately forfeited upon cancellation of the Restricted Stock Units.
Appears in 1 contract
Samples: Restricted Stock Unit Agreement (Target Hospitality Corp.)
Rights as Shareholder; Dividend Equivalents. 6.1 The Participant 5.1 Except as otherwise provided herein, the Employee shall not have any rights of a shareholder with respect to the shares of Common Shares Stock underlying the Restricted Stock Units RSUs unless and until the Restricted Stock Units RSUs vest and are settled by the issuance of such shares of Common Shares. Stock or cash at the sole election of the Committee as set forth in Section 6.1(a) and (b).
5.2 Upon and following the settlement of the Restricted Stock UnitsRSUs, the Participant Employee shall be the record owner of the shares of Common Shares underlying the Restricted Stock Units issued upon settlement, unless and until such shares are sold or otherwise disposed of, and as record owner shall be entitled to all rights of a shareholder of the Company (including voting rightsrights and dividends).
6.2 In 5.3 If, prior to the event that settlement date, the Company declares and pays any (or sets a record date) with respect to an ordinary cash dividends dividend on its the shares of Common Shares between Stock, then, on the Grant Date and payment date of the date when the Restricted Stock Units are settled in accordance with Section 7 hereof or are forfeiteddividend, the Participant’s Account Employee's account shall be credited on the date such dividend is paid to shareholders with Dividend Equivalents in an amount equal to all cash the dividends that would have been paid to the Participant Employee if one share of Common Share Stock had been issued on the Grant Date for each Restricted Stock Unit granted to the Participant (“Dividend Equivalents”). Employee as set forth in this Agreement.
5.4 Dividend Equivalents shall be credited by the Company to the Participant’s Account Employee's account and interest may may, if the Committee authorizes, be credited on the amount of cash such Dividend Equivalents credited to the Participant’s Account withheld at a rate and subject to such terms as determined by the Committee. Dividend Equivalents credited to the Participant’s Account shall be subject to the same vesting and other forfeiture restrictions as the Restricted Stock Units to which they are attributable in accordance with this Agreement and shall be paid on the same date that the Restricted Stock Units to which they are attributable are settled in accordance with Section 7 6 hereof. Dividend Equivalents credited to the Participant’s Account Employee's account shall be distributed settled in cash or, at the discretion of the Committee, in shares of Common Shares Stock having a Fair Market Value equal to the amount of the Dividend Equivalents and interest, if any. Any accumulated and unpaid Dividend Equivalents attributable to Restricted Stock Units that are cancelled will not be paid and will be immediately forfeited upon cancellation of the Restricted Stock Units.
Appears in 1 contract
Samples: Restricted Stock Unit Award Agreement (Natural Gas Services Group Inc)
Rights as Shareholder; Dividend Equivalents. 6.1 (a) The Participant Employee shall not have any rights of a shareholder with respect to the shares of Common Shares Stock underlying the Performance Restricted Stock Units unless and until the Performance Restricted Stock Units vest and are settled by the issuance of such shares of Common Shares. Stock.
(b) Upon and following the settlement of the Performance Restricted Stock Units, the Participant Employee shall be the record owner of the shares of Common Shares Stock underlying the Performance Restricted Stock Units unless and until such shares are sold or otherwise disposed of, and as record owner shall be entitled to all rights of a shareholder of the Company (including voting rights).
6.2 In . If, prior to the event that settlement date, the Company pays any declares a cash dividends or stock dividend on its the shares of Common Shares between Stock, then, on the Grant Date and payment date of the date when the Restricted Stock Units are settled in accordance with Section 7 hereof or are forfeiteddividend, the ParticipantEmployee’s Account shall be credited on the date such dividend is paid to shareholders with an amount equal to all the cash and stock dividends paid by the Company in respect of one share of Common Stock (“Dividend Equivalents”) in an amount equal to the dividends that would have been paid to the Participant Employee if one share of Common Share Stock had been issued on the Grant Date for each Restricted Stock Unit granted to the Participant (“Dividend Equivalents”)Employee as set forth in this Agreement. Dividend Equivalents shall be credited to the Participant’s Account and interest may be credited on the amount of cash The Dividend Equivalents credited to the ParticipantEmployee’s Account at a rate and subject will be deemed to such terms as determined by the Committee. Dividend Equivalents credited be reinvested in additional Performance Restricted Stock Units (rounded to the Participant’s Account shall nearest whole share) and will be subject to the same vesting terms and other restrictions conditions as the Performance Restricted Stock Units to which they are attributable and shall vest or be paid on forfeited (if applicable) at the same date that time as the Performance Restricted Stock Units to which they are attributable are settled in accordance with Section 7 hereofattributable. Dividend Equivalents credited to the Participant’s Account shall be distributed in cash or, at the discretion of the Committee, in Common Shares having a Fair Market Value equal to the amount of the Dividend Equivalents and interest, if any. Any accumulated and unpaid Dividend Equivalents attributable to Such additional Performance Restricted Stock Units that are cancelled will not shall also be paid and will be immediately forfeited upon cancellation of the credited with additional Performance Restricted Stock UnitsUnits as any further dividends are declared.
Appears in 1 contract
Samples: Performance Restricted Stock Unit Award Agreement (XPEL, Inc.)
Rights as Shareholder; Dividend Equivalents. 6.1 5.1 The Participant shall not have any rights of a shareholder with respect to the Common Shares underlying the Restricted Stock Units (including, without limitation, any voting rights or any right to dividends paid with respect to the Shares underlying the Restricted Stock Units) unless and until the Restricted Stock Units vest and are settled by the issuance of such Common Shares. Shares in accordance with Section 6 of this Agreement.
5.2 Upon and following the settlement of the Restricted Stock Units, the Participant shall be the record owner of the Common Shares underlying the Restricted Stock Units unless and until such shares Shares are sold or otherwise disposed of, and as record owner shall be entitled to all rights of a shareholder of the Company (including voting rights)Company.
6.2 In 5.3 If, during the event that vesting period provided in Section 3, the Company pays any declares a cash dividends dividend on its Common Shares between the Grant Date and Shares, then, on the payment date when of the Restricted Stock Units are settled in accordance with Section 7 hereof or are forfeiteddividend, the Participant’s Account shall be credited on the date such dividend is paid to shareholders with Dividend Equivalents in an amount equal to all cash the dividends that would have been paid to the Participant if one Common Share had been issued on the Grant Date for each Restricted Stock Unit granted to the Participant (“as set forth in this Agreement based the Target Award. At the end of the Performance Period and prior to payment of such Dividend Equivalents”). Dividend Equivalents shall be credited to the Participant’s Account and interest may be credited on , the amount of cash Dividend Equivalents credited to the Participant’s Account at a rate and subject to such terms as determined by the Committee. Dividend Equivalents credited to the Participant’s Account shall be increased or decreased in the same proportion as the adjustment made to the Target Award when determining the amount of Vested Units (based on the Company’s performance as described in Section 3.1 and Appendix A). Dividend Equivalents shall be subject to the same vesting and other forfeiture restrictions as the Restricted Stock Units to which they are attributable and shall be paid paid, without adjustment for any earnings or interest, on the same date that the Restricted Stock Units to which they are attributable are settled in accordance with Section 7 hereof6 of this Agreement. Dividend Equivalents credited to the a Participant’s Account shall be distributed in cash or, at the discretion of the Committee, in Common Shares having a Fair Market Value equal to the amount of the cash. Dividend Equivalents and interest, if any. Any accumulated and unpaid Dividend Equivalents attributable to Restricted Stock Units that are cancelled will shall not be paid and will be immediately forfeited upon cancellation of the Restricted Stock Unitseligible for dividend reinvestment.
Appears in 1 contract
Samples: Restricted Stock Unit Agreement (Americold Realty Trust)