TSR Performance-Based Units Sample Clauses
The TSR Performance-Based Units clause establishes that certain equity awards or compensation units are granted based on the achievement of Total Shareholder Return (TSR) targets over a specified performance period. Typically, this means that employees or executives will only earn these units if the company's TSR meets or exceeds predetermined benchmarks, which may be measured relative to peer companies or set as absolute goals. This clause incentivizes recipients to focus on long-term shareholder value creation and aligns their interests with those of shareholders by tying compensation directly to company performance.
TSR Performance-Based Units. The target number of TSR Performance-Based Units that shall be eligible to vest pursuant to this Section B(i) shall be [ ], and the maximum number of TSR Performance-Based Units that shall be eligible to vest pursuant to this Section B(i) shall be [ ]. Subject to Section C, on the second (2nd) anniversary of the Grant Date, a number of TSR Performance-Based Units shall become vested equal to the product of (x) the target number of TSR Performance-Based Units eligible to vest pursuant to this Section B(i) multiplied by (y) the TSR Vesting Percentage, rounded down to the nearest whole TSR Performance-Based Unit.
TSR Performance-Based Units. The target number of TSR Performance-Based Units that shall be eligible to vest pursuant to this Section B(i) shall be 83,915, and the maximum number of TSR Performance-Based Units that shall be eligible to vest pursuant to this Section B(i) shall be 167,830. Subject to Section C, on the Vesting Date, a number of TSR Performance-Based Units shall become vested equal to the product of (x) the target number of TSR Performance-Based Units eligible to vest pursuant to this Section B(i) multiplied by (y) the TSR Vesting Percentage as of March 31, 2021, rounded down to the nearest whole TSR Performance-Based Unit.
TSR Performance-Based Units. The target number of TSR Performance-Based Units that shall be eligible to vest pursuant to this Section B(i) shall be 140,256, and the maximum number of TSR Performance-Based Units that shall be eligible to vest pursuant to this Section B(i) shall be 280,512. Subject to Section C, on the Vesting Date, a number of TSR Performance-Based Units shall become vested equal to the product of (x) the target number of TSR Performance-Based Units eligible to vest pursuant to this Section B(i) multiplied by (y) the TSR Vesting Percentage on the trading day immediately preceding the Vesting Date, rounded down to the nearest whole TSR Performance-Based Unit.