Total Shareholder Return (TSR). (i) TSR will be compiled for a peer group of companies approved by the Compensation Committee (the “Target Group”) for the Performance Period immediately preceding each Normal Vesting Date. TSR for each such company is measured by dividing (A) the sum of (i) the dividends on the common stock of such company during the Performance Period, assuming dividend reinvestment, and (ii) the difference between the average closing price of a share of such company’s common stock for the 15 trading days ending December 31 at the end of the Performance Period and the average closing price of such shares for the 15 trading days ending December 31 immediately prior to the beginning of the Performance Period (appropriately adjusted for any stock dividend, stock split, spin-off, merger or other similar corporate events), by (B) the average closing price of a share of such company’s common stock for the 15 trading days ending December 31 immediately prior to the beginning of the Performance Period.
Appears in 4 contracts
Samples: Performance Share Agreement (Valero Energy Corp/Tx), Performance Share Agreement (Valero Energy Corp/Tx), Performance Share Agreement (Valero Energy Corp/Tx)