Common use of Vesting of PSUs Clause in Contracts

Vesting of PSUs. Subject to the terms of this Agreement, PSUs will vest when the Committee has certified (which certification shall be made as soon as reasonably possible after the end of the Performance Period but in no event later than the tenth business day following the filing with the Securities and Exchange Commission (the “SEC”) of the Company’s Form 10-K for the year ended on the last day of the Performance Period) that: (a) the Employee has been in continuous employment with the Company or any Affiliate up to and including the last day of the Performance Period (except as otherwise provided below); (b) the Company has filed its financial statements with the SEC for the Performance Period (to and including, the period ending on the last day of the Performance Period); and (c) the Performance Goal and any other material terms were satisfied, based on a certification the Committee has received from the Company attesting to the satisfaction of the material terms and conditions of this Agreement and the amount of the award that had been earned based upon attainment of the Performance Goal in accordance with the following table: The number of PSUs to be vested shall be adjusted to be proportional to the partial performance between Threshold, Target and Maximum amounts. Any fractional PSUs will be rounded down to the nearest whole number. Any PSUs that do not vest pursuant to the provisions of this Agreement will be forfeited and canceled.

Appears in 1 contract

Samples: Performance Share Unit Grant Agreement (M.D.C. Holdings, Inc.)

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Vesting of PSUs. Subject to the terms of this Agreement, PSUs PSU’s will vest when the Committee has certified (which certification shall be made as soon as reasonably possible after the end of the Performance Period but in no event later than the tenth business day following the filing with the Securities and Exchange Commission (the “SEC”) SEC of the Company’s Form 10-K 10-__ for the year [year/quarter] ended on the last day of the Performance Period______________) that: (a) the Employee has been in continuous employment with the Company or any Affiliate up to and including the last day of the Performance Period (except as otherwise provided below); (b) the Company has filed its financial statements with the SEC for the Performance Period (to and including, the period ending on the last day of the Performance Period______________); and (c) the Performance Goal and any other material terms were satisfied, based on a certification the Committee has received from the Company attesting to the satisfaction of the material terms and conditions of this Agreement and the amount of the award that had been earned based upon attainment of the GSM Condition and achievement of the Performance Goal in accordance with the following table: 52412376.1 The number of PSUs to be vested shall be adjusted to be proportional to the partial performance between Threshold, Target and Maximum amounts. Any fractional PSUs will be rounded down to the nearest whole number. Any PSUs PSU’s that do not vest pursuant to the provisions of this Agreement will be forfeited and canceled.

Appears in 1 contract

Samples: Performance Share Unit Grant Agreement (M.D.C. Holdings, Inc.)

Vesting of PSUs. Subject to the terms of this Agreement, PSUs PSU’s will vest when the Committee has certified (which certification shall be made as soon as reasonably possible after the end of the Performance Period but in no event later than the tenth business day following the filing with the Securities and Exchange Commission (the “SEC”) of the Company’s Form 10-K for the year ended on the last day of the Performance Period) that: (a) the Employee has been in continuous employment with the Company or any Affiliate up to and including the last day of the Performance Period (except as otherwise provided below); (b) the Company has filed its financial statements with the SEC for the Performance Period (to and including, the period ending on the last day of the Performance Period); and (c) the Performance Goal and any other material terms were satisfied, based on a certification the Committee has received from the Company attesting to the satisfaction of the material terms and conditions of this Agreement and the amount of the award that had been earned based upon attainment of the Performance Goal in accordance with the following table: The number of PSUs to be vested shall be adjusted to be proportional to the partial performance between Threshold, Target and Maximum amounts. Any fractional PSUs will be rounded down to the nearest whole number. Any PSUs PSU’s that do not vest pursuant to the provisions of this Agreement will be forfeited and canceled.

Appears in 1 contract

Samples: Performance Share Unit Grant Agreement (M.D.C. Holdings, Inc.)

Vesting of PSUs. Subject to the terms of this Agreement, PSUs PSU’s will vest when the Committee has certified (which certification shall be made as soon as reasonably possible after the end of the Performance Period but in no event later than the tenth business day following the filing with the Securities and Exchange Commission (the “SEC”) SEC of the Company’s Form 10-K for the year ended on the last day of the Performance PeriodDecember 31, 2021) that: (a) the Employee has been in continuous employment with the Company or any Affiliate up to and including the last day of the Performance Period (except as otherwise provided below); (b) the Company has filed its financial statements with the SEC for the Performance Period (to and including, the period ending on the last day of the Performance PeriodDecember 31, 2021); and (c) the Performance Goal and any other material terms were satisfied, based on a certification the Committee has received from the Company attesting to the satisfaction of the material terms and conditions of this Agreement and the amount of the award that had been earned based upon attainment of the GSM Condition and achievement of the Performance Goal in accordance with the following table: Average increased home sale revenues during Performance Period over Base Period of at least 5% Average increased home sale revenues during Performance Period over Base Period of at least 10% Average increased home sale revenues during Performance Period over Base Period of 20% or more The number of PSUs to be vested shall be adjusted to be proportional to the partial performance between Threshold, Target and Maximum amounts. Any fractional PSUs will be rounded down to the nearest whole number. Any PSUs PSU’s that do not vest pursuant to the provisions of this Agreement will be forfeited and canceled.

Appears in 1 contract

Samples: Performance Share Unit Grant Agreement (MDC Holdings Inc)

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Vesting of PSUs. Subject to the terms of this Agreement, PSUs PSU’s will vest when the Committee has certified (which certification shall be made as soon as reasonably possible after the end of the Performance Period but in no event later than the tenth business day following the filing with the Securities and Exchange Commission (the “SEC”) SEC of the Company’s Form 10-K Q for the year quarter ended on the last day of the Performance Period____________) that: (a) the Employee has been in continuous employment with the Company or any Affiliate up to and including the last day of the Performance Period (except as otherwise provided below); (b) the Company has filed its financial statements with the SEC for the Performance Period (to and including, the period ending on the last day of the Performance Period_____________); and (c) the Performance Goal and any other material terms were satisfied, based on a certification the Committee has received from the Company attesting to the satisfaction of the material terms and conditions of this Agreement and the amount of the award that had been earned based upon attainment of the GSM Condition and achievement of the Performance Goal in accordance with the following table: The number of PSUs to be vested shall be adjusted to be proportional to the partial performance between Threshold, Target and Maximum amounts. Any fractional PSUs will be rounded down to the nearest whole number. Any PSUs PSU’s that do not vest pursuant to the provisions of this Agreement will be forfeited and canceled.

Appears in 1 contract

Samples: Performance Share Unit Grant Agreement (MDC Holdings Inc)

Vesting of PSUs. Subject to the terms of this Agreement, PSUs PSU’s will vest when the Committee has certified (which certification shall be made as soon as reasonably possible after the end of the Performance Period but in no event later than the tenth business day following the filing with the Securities and Exchange Commission (the “SEC”) SEC of the Company’s Form 10-K 10-__ for the year [year/quarter] ended on the last day of the Performance Period______________) that: (a) the Employee has been in continuous employment with the Company or any Affiliate up to and including the last day of the Performance Period (except as otherwise provided below); (b) the Company has filed its financial statements with the SEC for the Performance Period (to and including, the period ending on the last day of the Performance Period______________); and (c) the Performance Goal and any other material terms were satisfied, based on a certification the Committee has received from the Company attesting to the satisfaction of the material terms and conditions of this Agreement and the amount of the award that had been earned based upon attainment of the GSM Condition and achievement of the Performance Goal in accordance with the following table: The number of PSUs to be vested shall be adjusted to be proportional to the partial performance between Threshold, Target and Maximum amounts. Any fractional PSUs will be rounded down to the nearest whole number. Any PSUs PSU’s that do not vest pursuant to the provisions of this Agreement will be forfeited and canceled.

Appears in 1 contract

Samples: Performance Share Unit Grant Agreement (M.D.C. Holdings, Inc.)

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