Stockholder Rights and Dividend Equivalents. (a) The holder of this Award shall not have any stockholder rights, including voting or dividend rights, with respect to the Shares subject to the Award until the Participant becomes the record holder of those Shares upon their actual issuance following the Corporation’s collection of the applicable Withholding Taxes. (b) Notwithstanding the foregoing, should any dividend or other distribution, whether regular or extraordinary and whether payable in cash, securities or other property (other than shares of Common Stock), be declared and paid on the outstanding Common Stock while one or more Shares remain subject to this Award (i.e., those Shares are not otherwise issued and outstanding for purposes of entitlement to the dividend or distribution), then a special book account shall be established for the Participant and credited with a phantom dividend equal to the actual dividend or distribution which would have been paid on the Shares at the time subject to this Award had those Shares been issued and outstanding and entitled to that dividend or distribution. The phantom dividend equivalents so credited shall vest at the same time as the Shares to which they relate and shall be distributed to the Participant (in the same form the actual dividend or distribution was paid to the holders of the Common Stock entitled to that dividend or distribution or in such other form as the Plan Administrator deems appropriate) concurrently with the issuance of those Shares on the applicable Issuance Date. However, each such distribution shall be subject to the Corporation’s collection of the Withholding Taxes applicable to that distribution.
Appears in 5 contracts
Samples: Restricted Stock Unit Issuance Agreement (Ultratech Inc), Restricted Stock Unit Issuance Agreement (Ultratech Inc), Restricted Stock Unit Issuance Agreement (Ultratech Inc)
Stockholder Rights and Dividend Equivalents. (a) The holder of this Award shall not have any stockholder rights, including voting voting, dividend or dividend liquidation rights, with respect to the Shares subject to the Award until the Participant becomes the record holder of those Shares upon following their actual issuance following upon the Corporation’s collection of the applicable Withholding Taxes.
(b) Notwithstanding the foregoing, should any dividend or other distributiondistribution payable other than in shares of Common Stock, whether regular or extraordinary and whether payable in cash, securities or other property (other than shares of Common Stock)extraordinary, be declared and paid on the Corporation’s outstanding Common Stock while in one or more calendar years during which Shares remain subject to this Award (i.e., those Shares are not otherwise issued and outstanding for purposes of entitlement to the dividend or distribution), then a special book account shall be established for the Participant and credited with a phantom dividend equal equivalent to the actual dividend or distribution which would have been paid on the Shares at the time subject to this Award had those Shares had they been issued and outstanding and entitled to that dividend or distribution. The phantom dividend equivalents so credited shall vest at to the same time as the Shares to which they relate and Participant’s book account for each calendar quarter this Award remains outstanding in whole or in part shall be distributed to the Participant (in the same form the actual dividend cash or distribution was paid to the holders of the Common Stock entitled to that dividend or distribution or in such other form as the Plan Administrator deems appropriatemay deem appropriate in its sole discretion) concurrently with the issuance of those Shares on the applicable Issuance Datelast business day of that calendar quarter. However, each such distribution shall be subject to the Corporation’s collection of the Withholding Taxes applicable to that distribution.
Appears in 4 contracts
Samples: Restricted Stock Unit Award Agreement (Alexander & Baldwin Inc), Executive Time Based Restricted Stock Unit Award Agreement (Alexander & Baldwin Inc), Executive Time Based Restricted Stock Unit Award Agreement (Alexander & Baldwin Inc)
Stockholder Rights and Dividend Equivalents. (a) The holder of this Award shall not have any stockholder rights, including voting voting, dividend or dividend liquidation rights, with respect to the Shares subject to the Award until the Participant becomes the record holder of those Shares upon following their actual issuance following upon the Corporation’s collection of the applicable Withholding Taxes.
(b) Notwithstanding the foregoing, should any dividend or other distribution, whether regular or extraordinary and whether extraordinary, payable in cash, securities or other property (other than in shares of Class A Common Stock), be declared and paid on the Corporation’s outstanding Class A Common Stock while in one or more calendar years during which Shares remain subject to this Award (i.e., those Shares are not otherwise issued and outstanding for purposes of entitlement to the dividend or distribution), then a special book account shall be established for the Participant and credited with a phantom dividend equal equivalent to the actual dividend or distribution which would have been paid on the Shares at the time subject to this Award had those such Shares been issued and outstanding and entitled to that dividend or distribution. The As the Shares subsequently vest in one or more installments hereunder, the phantom dividend equivalents so credited to those Shares in the book account shall vest at the same time as the Shares to which they relate vest, and those vested phantom dividend equivalents shall be distributed to the Participant (in the same form the actual dividend cash or distribution was paid to the holders of the Common Stock entitled to that dividend or distribution or in such other form as the Plan Administrator deems appropriatemay deem appropriate in its sole discretion) concurrently with the issuance of those the vested Shares on the applicable Issuance Dateto which they relate. However, each such distribution shall be subject to the Corporation’s collection of the Withholding Taxes applicable to that distribution. In no event shall any phantom dividend equivalents vest or become distributable unless the Shares to which they relate vest in accordance with the terms of this Agreement.
Appears in 4 contracts
Samples: Restricted Stock Unit Award Agreement (Apollo Education Group Inc), Restricted Stock Unit Award Agreement (Apollo Group Inc), Restricted Stock Unit Award Agreement (Apollo Education Group Inc)
Stockholder Rights and Dividend Equivalents. (a) The holder of this Award shall not have any stockholder rights, including voting voting, dividend or dividend liquidation rights, with respect to the Shares subject to the Award until the Participant becomes the record holder of those Shares upon following their actual issuance following upon the Corporation’s collection of the applicable Withholding Taxes.
(b) Notwithstanding the foregoing, should any dividend or other distributiondistribution payable other than in shares of Common Stock, whether regular or extraordinary and whether payable in cash, securities or other property (other than shares of Common Stock)extraordinary, be declared and paid on the Corporation’s outstanding Common Stock while in one or more calendar years during which Shares remain subject to this Award (i.e., those Shares are not otherwise issued and outstanding for purposes of entitlement to the dividend or distribution), then a special book account shall be established for the Participant and credited with a phantom dividend equal equivalent to the actual dividend or distribution which would have been paid on the Shares at the time subject to this Award had those Shares had they been issued and outstanding and entitled to that dividend or distribution. The phantom dividend equivalents so credited shall vest at to the same time as the Shares to which they relate and Participant’s book account during a particular calendar year shall be distributed to the Participant (in the same form the actual dividend cash or distribution was paid to the holders of the Common Stock entitled to that dividend or distribution or in such other form as the Plan Administrator deems appropriatemay deem appropriate in its sole discretion) concurrently with in one or more installments completed prior to the issuance last day of those Shares on the applicable Issuance Datethat calendar year. However, each such distribution shall be subject to the Corporation’s collection of the Withholding Taxes applicable to that distribution.
Appears in 3 contracts
Samples: Executive Time Based Restricted Stock Unit Award Agreement (Alexander & Baldwin Inc), Executive Time Based Restricted Stock Unit Award Agreement (Alexander & Baldwin Inc), Executive Time Based Restricted Stock Unit Award Agreement (Alexander & Baldwin Inc)
Stockholder Rights and Dividend Equivalents. (a) The holder of this Award shall not have any stockholder rights, including voting voting, dividend or dividend liquidation rights, with respect to the Shares subject to the Award until the Participant becomes the record holder of those Shares upon their actual issuance following the Corporation’s collection of the applicable Withholding Taxes.
(b) Notwithstanding the foregoing, should any dividend or other distribution, whether regular or extraordinary and whether payable in cash, securities or other property (other than shares of Common Stock)) or other property, be declared and paid on the outstanding Common Stock while one or more Shares remain subject to this Award (i.e., those Shares are not otherwise issued and outstanding for purposes of entitlement to the dividend or distribution), then a special book account shall be established for the Participant and credited with a phantom dividend equal equivalent to the actual dividend or distribution which would have been paid on the Shares at the time subject to this Award had those Shares they been issued and outstanding and entitled to that dividend or distribution. The As the Shares subsequently vest hereunder, the phantom dividend equivalents so credited to those Shares in the book account shall vest at the same time as the Shares to which they relate and shall be distributed to the Participant (in the same form the actual dividend or distribution was paid to the holders of the Common Stock entitled to that dividend or distribution or in such other form as the Plan Administrator deems appropriateappropriate under the circumstances) concurrently with the issuance of the vested Shares to which those Shares on the applicable Issuance Date. However, each such distribution shall be subject to the Corporation’s collection of the Withholding Taxes applicable to that distributionphantom dividend equivalents relate.
Appears in 2 contracts
Samples: Restricted Stock Unit Issuance Agreement, Restricted Stock Unit Issuance Agreement (Gilead Sciences Inc)
Stockholder Rights and Dividend Equivalents. (a) The holder of this Award shall not have any stockholder rights, including voting voting, dividend or dividend liquidation rights, with respect to the Shares subject to the Award until the Participant becomes the record holder of those Shares upon following their actual issuance following upon the Corporation’s collection of the applicable Withholding Taxes.
(b) Notwithstanding the foregoing, should any dividend or other distributiondistribution payable other than in shares of Common Stock, whether regular or extraordinary and whether payable in cash, securities or other property (other than shares of Common Stock)extraordinary, be declared and paid on the Corporation’s outstanding Common Stock while in one or more calendar years during which Shares remain subject to this Award (i.e., those Shares are not otherwise issued and outstanding for purposes of entitlement to the dividend or distribution), then a special book account shall be established for the Participant and credited with a phantom dividend equal equivalent to the actual dividend or distribution which would have been paid on the number of Shares at the time subject to issuable under this Award at Target Level Attainment had those that number of Shares been issued and outstanding and entitled to that dividend or distribution. The phantom dividend equivalents so credited shall vest at to the same time as the Shares to which they relate and Participant’s book account during a particular calendar year shall be distributed to the Participant (in the same form the actual dividend cash or distribution was paid to the holders of the Common Stock entitled to that dividend or distribution or in such other form as the Plan Administrator deems appropriatemay deem appropriate in its sole discretion) concurrently with in one or more installments completed prior to the issuance last day of those Shares on the applicable Issuance Datethat calendar year. However, each such distribution shall be subject to the Corporation’s collection of the Withholding Taxes applicable to that distribution.
Appears in 2 contracts
Samples: Executive Performance Based Restricted Stock Unit Award Agreement (Alexander & Baldwin Inc), Executive Performance Based Restricted Stock Unit Award Agreement (Alexander & Baldwin Inc)
Stockholder Rights and Dividend Equivalents. (a) The holder of this Award shall not have any stockholder rights, including voting or dividend rights, with respect to the Shares subject to the Award until the Participant becomes the record holder of those Shares upon following their actual issuance following upon the Corporation’s collection of the applicable Withholding Taxes.
(b) Notwithstanding the foregoing, should any dividend or other distribution, whether regular or extraordinary and whether payable in cash, securities or other property (other than shares of Common Stock)property, be declared and paid on the outstanding Common Stock while one or more Shares remain subject to this Award (i.e., those Shares are not otherwise issued and outstanding for purposes of entitlement to the dividend or distribution), then a special book account shall be established for the Participant and credited with a phantom dividend equal to the actual dividend or distribution which would have been paid on the Shares at the time subject to this Award had those Shares been issued and outstanding and entitled to that dividend or distribution. The phantom dividend equivalents so credited shall vest at the same time as the Shares to which they relate and shall be distributed to the Participant (in the same form the actual dividend or distribution was paid to the holders of the Common Stock entitled to that dividend or distribution or in such other form as the Plan Administrator deems appropriatedistribution) concurrently with the issuance of those Shares on the applicable Issuance Issue Date. However, each such distribution shall be subject to the Corporation’s collection of the Withholding Taxes applicable to that distribution.
Appears in 2 contracts
Samples: Restricted Stock Unit Issuance Agreement (Ultratech Inc), Restricted Stock Unit Issuance Agreement (Ultratech Inc)
Stockholder Rights and Dividend Equivalents. (a) The holder of this Award one or more Substitute Awards hereunder shall not have any stockholder rights, including voting voting, dividend or dividend liquidation rights, with respect to the Shares subject to the each such Substitute Award until the Participant such person holder becomes the record holder of those Shares upon following their actual issuance following upon the Corporation’s collection of the applicable Withholding Taxes.
(b) Notwithstanding the foregoing, should any dividend or other distributiondistribution payable other than in shares of Common Stock, whether regular or extraordinary and whether payable in cash, securities or other property (other than shares of Common Stock)extraordinary, be declared and paid on the Corporation’s outstanding Common Stock while in one or more calendar years during which Shares remain subject to this Award one or more Substitute Awards (i.e., those Shares are not otherwise issued and outstanding for purposes of entitlement to the dividend or distribution), then a special book account shall be established for the Participant with respect to each such Substitute Award and credited with a phantom dividend equal equivalent to the actual dividend or distribution which would have been paid on the Shares at the time subject to this that Substitute Award had those Shares they been issued and outstanding and entitled to that dividend or distribution. The phantom dividend equivalents so credited shall vest at to the same time as the Shares to which they relate and Participant’s book account for each calendar quarter that such Substitute Award remains outstanding in whole or in part shall be distributed to the Participant (in the same form the actual dividend cash or distribution was paid to the holders of the Common Stock entitled to that dividend or distribution or in such other form as the Plan Administrator deems appropriatemay deem appropriate in its sole discretion) concurrently with the issuance of those Shares on the applicable Issuance Datelast business day of that calendar quarter. However, each such distribution shall be subject to the Corporation’s collection of the Withholding Taxes applicable to that distribution.
Appears in 2 contracts
Samples: Universal Restricted Stock Unit Award Agreement (A & B II, Inc.), Universal Restricted Stock Unit Award Agreement for Substitute Awards (A & B II, Inc.)
Stockholder Rights and Dividend Equivalents. (a) The holder of this Award shall not have any stockholder rights, including voting voting, dividend or dividend liquidation rights, with respect to the Shares subject to the Award until the Participant becomes the record holder of those Shares upon following their actual issuance following upon the Corporation’s collection of the applicable Withholding Taxes.
(b) Notwithstanding the foregoing, should any dividend or other distribution, whether regular or extraordinary and whether distribution payable in cash, securities or other property (other than in shares of Common Stock), Stock be declared and paid on the Corporation’s outstanding Common Stock while at a time when one or more Shares remain subject to this Award (i.e., those Shares are not otherwise issued and outstanding for purposes of entitlement to the dividend or distribution), then a special book account shall be established for the Participant and credited with a phantom dividend equal equivalent to the actual dividend or distribution which would have been paid on the Shares at the time subject to this Award had those Shares had they been issued and outstanding and entitled to that dividend or distribution. The phantom dividend equivalents so credited shall vest at to the same time as the Shares to which they relate and Participant’s book account for each calendar quarter this Award remains outstanding in whole or in part shall be distributed to the Participant (in the same form the actual dividend cash or distribution was paid to the holders of the Common Stock entitled to that dividend or distribution or in such other form as the Plan Administrator deems appropriatemay deem appropriate in its sole discretion) concurrently with the issuance of those Shares on the applicable Issuance Datelast business day of that calendar quarter. However, each such distribution shall be subject to the Corporation’s collection of the Withholding Taxes applicable to that distribution.
Appears in 2 contracts
Samples: Time Based Restricted Stock Unit Award Agreement (Matson, Inc.), Time Based Restricted Stock Unit Award Agreement (Matson, Inc.)
Stockholder Rights and Dividend Equivalents. (a) The holder of this Award shall not have any stockholder rights, including voting voting, dividend or dividend liquidation rights, with respect to the Shares subject to the Award until the Participant becomes the record holder of those Shares upon their actual issuance following the Corporation’s collection of the applicable Withholding Taxes.
(b) Notwithstanding the foregoing, should any dividend or other distributiondistribution payable other than in shares of Class A Common Stock, whether regular or extraordinary and whether payable in cash, securities or other property (other than shares of Common Stock)extraordinary, be declared and paid on the Corporation’s outstanding Class A Common Stock while in one or more calendar years during which Shares remain subject to this Award (i.e., those Shares are not otherwise issued and outstanding for purposes of entitlement to the dividend or distribution), then a special book account shall be established for the Participant and credited with a phantom dividend equal equivalent to the actual dividend or distribution which would have been paid on the Shares at the time subject to this Award had those such Shares been issued and outstanding and entitled to that dividend or distribution. The As the Shares subject to this Award subsequently vest in one or more installments hereunder, the phantom dividend equivalents so credited to those Shares in the book account shall vest at the same time as the Shares to which they relate also vest, and those vested dividend equivalents shall be distributed to the Participant (in the same form the actual dividend cash or distribution was paid to the holders of the Common Stock entitled to that dividend or distribution or in such other form as the Plan Administrator deems appropriatemay deem appropriate in its sole discretion) concurrently with the issuance of the vested Shares to which those Shares on the applicable Issuance Datephantom dividend equivalents relate. However, each such distribution shall be subject to the Corporation’s collection of the Withholding Taxes applicable to that distribution.
Appears in 2 contracts
Samples: Restricted Stock Unit Award Agreement (Apollo Group Inc), Restricted Stock Unit Award Agreement (Apollo Group Inc)
Stockholder Rights and Dividend Equivalents. (a) The holder of this Award shall not have any stockholder rights, including voting or dividend rights, with respect to the Shares subject to the Award until the Participant becomes the record holder of those Shares upon their actual issuance following the Corporation’s 's collection of the applicable Withholding Taxes.
(b) Notwithstanding the foregoing, should any dividend or other distribution, whether regular or extraordinary and whether payable in cash, securities or other property (other than shares of Common Stock), be declared and paid on the outstanding Common Stock while one or more Shares remain subject to this Award (i.e., those Shares are not otherwise issued and outstanding for purposes of entitlement to the dividend or distribution), then a special book account shall be established for the Participant and credited with a phantom dividend equal to the actual dividend or distribution which would have been paid on the Shares at the time subject to this Award had those Shares been issued and outstanding and entitled to that dividend or distribution. The phantom dividend equivalents so credited shall vest at the same time as the Shares to which they relate and shall be distributed to the Participant (in the same form the actual dividend or distribution was paid to the holders of the Common Stock entitled to that dividend or distribution or in such other form as the Plan Administrator deems appropriate) concurrently with the issuance of those Shares on the applicable Issuance Date. However, each such distribution shall be subject to the Corporation’s 's collection of the Withholding Taxes applicable to that distribution.
Appears in 1 contract
Samples: Restricted Stock Unit Issuance Agreement (Ultratech Inc)
Stockholder Rights and Dividend Equivalents. (a) The holder of this Award shall not have any stockholder rights, including voting voting, dividend or dividend liquidation rights, with respect to the Shares subject to the Award until the Participant becomes the record holder of those Shares upon their actual issuance following the Corporation’s 's collection of the applicable Withholding Taxes.
(b) Notwithstanding the foregoing, should any dividend or other distribution, whether regular or extraordinary and whether payable in cash, securities or other property (other than shares of Common Stock)) or other property, be declared and paid on the outstanding Common Stock while one or more Shares remain subject to this Award (i.e., those Shares are not otherwise issued and outstanding for purposes of entitlement to the dividend or distribution), then a special book account shall be established for the Participant and credited with a phantom dividend equal equivalent to the actual dividend or distribution which would have been paid on the Shares at the time subject to this Award had those Shares they been issued and outstanding and entitled to that dividend or distribution. The As the Shares subsequently vest hereunder, the phantom dividend equivalents so credited to those Shares in the book account shall vest at the same time as the Shares to which they relate vest, and those vested dividend equivalents shall be distributed to the Participant (in the same form the actual dividend or distribution was paid to the holders of the Common Stock entitled to that dividend or distribution or in such other form as the Plan Administrator deems appropriateappropriate under the circumstances) concurrently with the issuance of the vested Shares to which those phantom dividend equivalents relate, whether those vested Shares on are to be issued in accordance with the applicable Issuance Date. However, each such Schedule or distribution shall be subject to provisions set forth in this Agreement or the Corporation’s collection of the Withholding Taxes applicable to that distributiondistribution provisions set forth in Participant's Deferral Election (if any).
Appears in 1 contract
Samples: Restricted Stock Unit Issuance Agreement (Gilead Sciences Inc)
Stockholder Rights and Dividend Equivalents. (a) The holder of this Award Participant shall not have any stockholder rights, including voting voting, dividend or dividend liquidation rights, with respect to the Shares subject to the each Substitute Award until the Participant becomes the record holder of those Shares upon following their actual issuance following the Corporation’s collection of the applicable Withholding Taxesunder that Substitute Award.
(b) Notwithstanding the foregoing, should any dividend or other distributiondistribution payable other than in shares of Common Stock, whether regular or extraordinary and whether payable in cash, securities or other property (other than shares of Common Stock)extraordinary, be declared and paid on the outstanding Common Stock while one or more Shares remain subject to this Award one or more Substitute Awards (i.e., those Shares are not otherwise issued and outstanding for purposes of entitlement to the dividend or distribution), then a special book account shall be established for the Participant with respect to each such Substitute Award and credited with a phantom dividend equal equivalent to the actual dividend or distribution which would have been paid on the Shares at the time subject to this that Substitute Award had those Shares they been issued and outstanding and entitled to that dividend or distribution. The As the Shares vest under that Substitute Award, the phantom dividend equivalents so credited to those Shares in the book account shall vest at the same time as the Shares to which they relate concurrently vest, and those vested dividend equivalents shall subsequently be distributed to the Participant (in the same form the actual dividend cash or distribution was paid to the holders of the Common Stock entitled to that dividend or distribution or in such other form as the Plan Administrator deems appropriatemay deem appropriate in its sole discretion) concurrently at the same time the vested Shares to which those phantom dividend equivalents relate are issued. In no event shall such phantom dividend equivalents vest or become distributable unless the Shares to which they relate vest in accordance with the issuance terms of those Shares on the applicable Issuance Date. However, each such distribution shall be subject to the Corporation’s collection of the Withholding Taxes applicable to that distributionthis Agreement.
Appears in 1 contract
Samples: Universal Restricted Stock Unit Award Agreement for Substitute Awards (A & B II, Inc.)
Stockholder Rights and Dividend Equivalents. (a) The holder of this Award shall not have any stockholder rights, including voting voting, dividend or dividend liquidation rights, with respect to the Shares subject to the Award until the Participant becomes the record holder of those Shares upon their actual issuance following the CorporationCompany’s collection of the applicable Withholding Taxes.
(b) Notwithstanding the foregoing, should any dividend or other distribution, whether regular or extraordinary and whether distribution payable in cash, securities or other property (other than shares of Common Stock), in Shares be declared and paid on the Company’s outstanding Common Stock while in one or more Shares calendar years during which one or more restricted stock units remain subject to this Award (i.e., those Shares are not otherwise issued and outstanding for purposes of entitlement to the dividend or distribution), then a special book account shall be established for the Participant and credited with a phantom dividend equal equivalent to the actual dividend or distribution which would have been paid on the Shares at the time subject to this Award had those Shares had they been issued and outstanding and entitled to that dividend or distribution. The To the extent one or more restricted stock units subsequently vest hereunder upon the satisfaction of the applicable vesting requirements for those restricted stock units, the phantom dividend equivalents so credited to those particular restricted stock units in Participant’s book account shall vest at the same time as the Shares to which they relate vest, and those vested dividend equivalents shall be distributed to the Participant (in the same form the actual dividend or distribution was paid to the holders of the Common Stock Shares entitled to that dividend or distribution or in such other form as the Plan Administrator deems appropriateappropriate in its sole discretion) concurrently with the issuance issuances of those Shares on the applicable Issuance Date. Howevervested Shares, each such distribution shall be subject to the CorporationCompany’s collection of the Withholding Taxes applicable to that distribution.
Appears in 1 contract
Samples: Restricted Stock Unit Award Agreement (Alexander & Baldwin, Inc.)
Stockholder Rights and Dividend Equivalents. (a) The holder of this Award shall not have any stockholder rights, including voting or dividend rights, with respect to the Shares subject to the Award until the Participant becomes the record holder of those Shares upon following their actual issuance following upon the Corporation’s 's collection of the applicable Withholding Taxes.
(b) Notwithstanding the foregoing, should any dividend or other distribution, whether regular or extraordinary and whether payable in cash, securities or other property (other than shares of Common Stock)property, be declared and paid on the outstanding Common Stock while one or more Shares remain subject to this Award (i.e., those Shares are not otherwise issued and outstanding for purposes of entitlement to the dividend or distribution), then a special book account shall be established for the Participant and credited with a phantom dividend equal to the actual dividend or distribution which would have been paid on the Shares at the time subject to this Award had those Shares been issued and outstanding and entitled to that dividend or distribution. The phantom dividend equivalents so credited shall vest at the same time as the Shares to which they relate and shall be distributed to the Participant (in the same form the actual dividend or distribution was paid to the holders of the Common Stock entitled to that dividend or distribution or in such other form as the Plan Administrator deems appropriatedistribution) concurrently with the issuance of those Shares on in accordance with the applicable Issuance Datevesting and issuance provisions of this Agreement. However, each such distribution shall be subject to the Corporation’s 's collection of the Withholding Taxes applicable to that distribution.
Appears in 1 contract
Samples: Restricted Stock Unit Issuance Agreement (SJW Corp)
Stockholder Rights and Dividend Equivalents. (a) The holder of this Award shall not have any stockholder rights, including voting or dividend rights, with respect to the Shares subject to the Award until the Participant becomes the record holder of those Shares upon their actual issuance following the Corporation’s collection of the applicable Withholding Taxes.
(b) Notwithstanding the foregoing, should any dividend or other distribution, whether regular or extraordinary and whether payable in cash, securities or other property (other than shares of Common Stock)property, be declared and paid on the outstanding Common Stock while one or more Shares remain subject to this Award (i.e., those Shares are not otherwise issued and outstanding for purposes of entitlement to the dividend or distribution), then a special book account shall be established for the Participant and credited with a phantom dividend equal to the actual dividend or distribution which would have been paid on the Shares at the time subject to this Award had those Shares been issued and outstanding and entitled to that dividend or distribution. The phantom dividend equivalents so credited shall vest at the same time as the Shares to which they relate and shall be distributed to the Participant (in the same form the actual dividend or distribution was paid to the holders of the Common Stock entitled to that dividend or distribution or in such other form as the Plan Administrator deems appropriatedistribution) concurrently with the issuance of those Shares on in accordance with the applicable Issuance Datevesting and issuance provisions of this Agreement. However, each such distribution shall be subject to the Corporation’s collection of the Withholding Taxes applicable to that distribution.
Appears in 1 contract
Samples: Restricted Stock Unit Issuance Agreement (SJW Corp)
Stockholder Rights and Dividend Equivalents. (a) The holder of this Award shall not have any stockholder rights, including voting voting, dividend or dividend liquidation rights, with respect to the Shares subject to the Award until the Participant becomes the record holder of those Shares upon following their actual issuance following upon the Corporation’s collection of the applicable Withholding Taxes.
(b) Notwithstanding the foregoing, should any dividend or other distributiondistribution payable other than in shares of Class A Common Stock, whether regular or extraordinary and whether payable in cash, securities or other property (other than shares of Common Stock)extraordinary, be declared and paid on the Corporation’s outstanding Class A Common Stock while in one or more calendar years during which Shares remain subject to this Award (i.e., those Shares are not otherwise issued and outstanding for purposes of entitlement to the dividend or distribution), then a special book account shall be established for the Participant and credited with a phantom dividend equal equivalent to the actual dividend or distribution which would have been paid on the Shares at the time subject to this Award had those such Shares been issued and outstanding and entitled to that dividend or distribution. The As the Shares subsequently vest in one or more installments hereunder, the phantom dividend equivalents so credited shall vest at to those Shares in the same time as the Shares to which they relate and book account shall be distributed to the Participant (in the same form the actual dividend cash or distribution was paid to the holders of the Common Stock entitled to that dividend or distribution or in such other form as the Plan Administrator deems appropriatemay deem appropriate in its sole discretion) concurrently with the issuance of the vested Shares to which those Shares on the applicable Issuance Datephantom dividend equivalents relate. However, each such distribution shall be subject to the Corporation’s collection of the Withholding Taxes applicable to that distribution.
Appears in 1 contract
Samples: Restricted Stock Unit Award Agreement (Apollo Group Inc)