Common use of Rights as Shareholder; Dividend Equivalents Clause in Contracts

Rights as Shareholder; Dividend Equivalents. 5.1 The Grantee shall not have any rights of a shareholder with respect to the shares of Stock underlying the Restricted Stock Units unless and until the Restricted Stock Units vest and are settled by the issuance of such shares of Stock. 5.2 Upon and following the settlement of the Restricted Stock Units, the Grantee shall be the record owner of the shares of 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). 5.3 If, prior to the settlement date, the Company declares a cash dividend on the shares of Stock, then, on the payment date of the dividend, the Grantee’s Account shall be credited with Dividend Equivalents in an amount equal to the dividends that would have been paid to the Grantee if one share of Stock had been issued on the Grant Date for each Restricted Stock Unit granted to the Grantee as set forth in this Agreement. 5.4 Dividend Equivalents shall be subject to the same vesting and forfeiture restrictions as the Restricted Stock Units to which they are attributable and shall be paid in cash on the same date that the Restricted Stock Units to which they are attributable are settled in accordance with Section 6 hereof.

Appears in 2 contracts

Samples: Restricted Stock Unit Agreement (Arrow Financial Corp), Restricted Stock Unit Agreement (Arrow Financial Corp)

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Rights as Shareholder; Dividend Equivalents. 5.1 The Grantee Except as otherwise provided in this Section 5, the Participant shall not have any rights of a shareholder with respect to the shares of Stock Shares underlying the Restricted Stock Units (including, without limitation, any voting rights 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 shares Shares in accordance with Section 6 of Stockthis Agreement. 5.2 Upon and following the settlement of the Restricted Stock Units, the Grantee Participant shall be the record owner of the shares of Stock 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. 5.3 If, prior to during the settlement datevesting period provided in Section 3, the Company declares a cash dividend on the shares of StockShares, then, on as soon as administratively practicable following the payment date of the dividenddividend to the Company’s shareholders (and in no event later than the end of the calendar year in which the dividend is paid to the Company’s shareholders), the Grantee’s Account Participant shall be credited with receive such Dividend Equivalents in cash in an amount equal to the dividends that would have been paid to the Grantee Participant if one share of Stock Share had been issued on the Grant Date for each Restricted Stock Unit granted to the Grantee Participant as set forth in this Agreement. 5.4 . Dividend Equivalents shall not be subject to the same vesting and forfeiture restrictions as the Restricted Stock Units to which they are attributable and shall be paid in cash on the same date that the Restricted Stock Units to which they are attributable are settled in accordance with Section 6 hereofeligible for dividend reinvestment.

Appears in 2 contracts

Samples: Restricted Stock Unit Agreement (Americold Realty Trust), Restricted Stock Unit Agreement (Americold Realty Trust)

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Rights as Shareholder; Dividend Equivalents. 5.1 The Grantee Except as otherwise provided in this Section 5, the Participant shall not have any rights of a shareholder with respect to the shares of Stock Shares underlying the Restricted Stock Units (including, without limitation, any voting rights 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 shares Shares in accordance with Section 6 of Stockthis Agreement. 5.2 Upon and following the settlement of the Restricted Stock Units, the Grantee Participant shall be the record owner of the shares of Stock 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. 5.3 3.3 If, prior to during the settlement datevesting period provided in Section 3, the Company declares a cash dividend on the shares of StockShares, then, on as soon as administratively practicable following the payment date of the dividenddividend to the Company’s shareholders (and in no event later than the end of the calendar year in which the dividend is paid to the Company’s shareholders), the Grantee’s Account Participant shall be credited with receive such Dividend Equivalents in cash in an amount equal to the dividends that would have been paid to the Grantee Participant if one share of Stock Share had been issued on the Grant Date for each Restricted Stock Unit granted to the Grantee Participant as set forth in this Agreement. 5.4 . Dividend Equivalents shall not be subject to the same vesting and forfeiture restrictions as the Restricted Stock Units to which they are attributable and shall be paid in cash on the same date that the Restricted Stock Units to which they are attributable are settled in accordance with Section 6 hereofeligible for dividend reinvestment.

Appears in 1 contract

Samples: Restricted Stock Unit Agreement (Americold Realty Trust)

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