Stock Price Target. Notwithstanding the Revenue Target, the PSUs will vest in three tranches of shares, subject to the achievement of the following milestones. For any measurement year, the applicable shares subject to the PSUs will vest if the per share closing price of the Stock equals or exceeds the price in the table below for any 20 trading days within any 30-trading day period during the applicable measurement year (adjustments to be made for stock splits, stock dividends, reorganizations, and recapitalizations) (the “Stock Price Target”): Measurement Year (Number of Shares Subject to PSUs) Closing Price of Share of Stock 2024 (25,000) $ 5.10 2025 (25,000) $ 6.80 2026 (25,000) $ 8.50 If neither the Revenue Target nor the Stock Price Target are satisfied for a measurement year, no PSU shares will vest for that measurement year; however, if the Stock Price Target for a future year is achieved in a prior year then the number of vested PSUs shall be accelerated to include the number of PSUs that would have vested in such future year (e.g., if in 2024 the Stock Price Target equals or exceeds $8.50 for the applicable period, then all 75,000 PSUs shall vest in 2024, and if in 2024 the Stock Price Target does not equal or exceed $5.10, but in 2025 the Stock Price Target equals or exceeds $8.50 for the applicable period, then 50,000 of the PSUs shall vest). The determinations of the Board or the Compensation Committee with respect to the achievement of a Revenue Target or Stock Price Target shall be final and binding. The Board and the Compensation Committee have discretion to modify the Revenue Targets or performance results to reflect significant transactions (such as acquisitions, divestitures, or newly formed joint ventures) or other unusual items if such events occur following the Effective Date, provided however that any such modifications made with respect to the Revenue Targets or performance results related to the PSUs granted to Executive pursuant to this Section 4(d)(3) shall be consistent with modifications made to equity awards made to other similarly situated Company executives on equivalent terms.
Stock Price Target. The vesting of the remaining twenty-five (25%) percent of the Phantom Stock Units subject to this Award (the “Stock Price Hurdle Amount”) (or 5,000 of the total 20,000 Phantom Stock Units granted hereunder) shall be conditioned upon the extent to which the Company achieves certain Stock Price Hurdles (as defined below) during the period between the Grant Date and December 15, 2018 (the “Measurement Period”). The performance conditions applicable with respect to the Stock Price Hurdle Amount shall be satisfied, at least in part, if the average closing prices of the Stock during any period of 20 consecutive trading days beginning and ending during the Measurement Period (the “Average Stock Price”), at least equals the lowest Stock price set forth in the table in Section II of Annex I (as the same may hereafter be adjusted pursuant to Section 5). Such conditions will be satisfied in full if, during the Measurement Period, the Average Stock Price at least equals the highest Stock price specified in such table. Subject to the satisfaction of the Service Condition described in Section 2.C below, the percentage of the Stock Price Hurdle Amount that shall be payable will be based upon the highest Average Stock Price achieved in the Measurement Period, regardless of the closing prices of the Stock at the end of the Measurement Period.
Stock Price Target. In the event the trading price of the Company’s Common Stock does not exceed $12.00 per share for any 20 trading days within any 30 trading day period within 24 months of the closing of the Business Combination, then up to 410,714 of the Shares are subject to complete forfeiture. The exact number of Shares subject to this Section 3.2 shall depend upon the exercise (or non-exercise) of all or a portion of the Over-allotment Option such that 18.75% of the Shares issued to Subscriber (or 3% of the Common Stock outstanding immediately following the IPO) are subject to forfeiture.
Stock Price Target. The vesting of the remaining twenty-five (25%) percent of the Performance Cash Units subject to this Award (the “Stock Price Hurdle Amount”) (or 7,500 of the total 30,000 Performance Cash Units granted hereunder) shall be conditioned upon the extent to which the Company achieves a certain Stock Price Hurdle (as defined below) during the period between the Grant Date and December 15, 2018 (the “Measurement Period”). The performance conditions applicable with respect to the Stock Price Hurdle Amount shall be satisfied if the average closing prices of the Stock during any period of 20 consecutive trading days beginning and ending during the Measurement Period (the “Average Stock Price”), at least equals the Stock price set forth in the table in Section II of Annex I (as the same may hereafter be adjusted pursuant to Section 5). Subject to the satisfaction of the Service Condition described in Section 2.C below, the percentage of the Stock Price Hurdle Amount that shall be payable will be based upon the highest Average Stock Price achieved in the Measurement Period, regardless of the closing prices of the Stock at the end of the Measurement Period.
Stock Price Target. In the event the trading price of the Common Stock do not exceed certain price targets subsequent to the Company’s initial business combination, Subscriber acknowledges and agrees that it shall forfeit any and all rights to a portion of the Shares as set forth below:
Stock Price Target. The Stock Price Target requires that the daily volume weighted average price of the Company’s common stock on the trading market or exchange on which the Company’s common stock is then listed or quoted for trading is not less than $2.00 per share (as adjusted for any stock splits, combinations or similar events) for a sixty (60) consecutive day period beginning on any day within the Prorated 2019 Fiscal Year.
