Xxxxxxxx of Shares. The Company shall, within sixty (60) days following the vesting date of any portion of this Award, effect delivery of the Shares with respect to such vested portion to the Participant (or, in the event of the Participant’s death, to the Designated Beneficiary). No Shares will be issued pursuant to this Award unless and until all legal requirements applicable to the issuance or transfer of such Shares have been complied with to the satisfaction of the Committee.
Xxxxxxxx of Shares. Delivery of Shares or other amounts under this Award Agreement and the Plan shall be subject to the following:
Xxxxxxxx of Shares. The Company shall, as soon as practicable upon the vesting of any RSUs (but in no event later than thirty (30) days following the date on which such RSUs vest), effect delivery of the Shares with respect to such vested RSUs to the Participant (or, in the event of the RSUs have passed to the estate or beneficiary of the Participant or a permitted transferee, to such estate or beneficiary or permitted transferee).
Xxxxxxxx of Shares. (a) As of the date hereof, certificates representing the Restricted Shares may be registered in the name of the Grantee and held by the Company or transferred to a custodian appointed by the Company for the account of the Grantee subject to the terms and conditions of the Plan and shall remain in the custody of the Company or such custodian until their delivery to the Grantee or Grantee’s beneficiary or estate as set forth in Sections 4(b) and (c) hereof or their forfeiture or reversion to the Company as set forth in Section 2(b) hereof. The Board may, in its discretion, provide that Grantee’s ownership of Restricted Shares prior to the lapse of any transfer restrictions or any other applicable restrictions shall, in lieu of such certificates, be evidenced by a “book entry” (i.e., a computerized or manual entry) in the records of the Company or its designated agent in accordance with and subject to the applicable provisions of the Plan.
(b) If certificates shall have been issued as permitted in Section 4(a) above, the certificates representing Restricted Shares in respect of which the Restricted Period has lapsed pursuant to this Agreement shall be delivered to the Grantee as soon as practicable following the date on which the restrictions on such Restricted Shares lapse.
(c) If certificates shall have been issued as permitted in Section 4(a) above, the certificates representing Restricted Shares in respect of which the Restricted Period lapsed upon the Grantee’s death shall be delivered to the executors or administrators of the Grantee’s estate as soon as practicable following the receipt of proof of the Grantee’s death satisfactory to the Company.
(d) Any certificate representing Restricted Shares shall bear (and confirmation and account statements sent to a Grantee with respect to book-entry Shares may bear) a legend in substantially the following form or substance: THIS CERTIFICATE AND THE SHARES OF STOCK REPRESENTED HEREBY ARE SUBJECT TO THE TERMS AND CONDITIONS (INCLUDING FORFEITURE AND RESTRICTIONS AGAINST TRANSFER) CONTAINED IN THE COMMUNITY FIRST, INC. 2016 EQUITY INCENTIVE PLAN (THE “PLAN”) AND THE RESTRICTED SHARE AWARD AGREEMENT (THE “AGREEMENT”) BETWEEN THE OWNER OF THE RESTRICTED SHARES REPRESENTED HEREBY AND COMMUNITY FIRST, INC. (THE “COMPANY”). THE RELEASE OF SUCH SHARES FROM SUCH TERMS AND CONDITIONS SHALL BE MADE ONLY IN ACCORDANCE WITH THE PROVISIONS OF THE PLAN AND THE AGREEMENT AND ALL OTHER APPLICABLE POLICIES AND PROCEDURES OF THE C...
Xxxxxxxx of Shares. The Securities are duly authorized and reserved for issuance in accordance with its respective terms, will be validly issued, fully paid and non-assessable, and free from all taxes, liens, claims and encumbrances with respect to the issue thereof and shall not be subject to preemptive rights or other similar rights of shareholders of the Company and will not impose personal liability upon the Buyer thereof.
Xxxxxxxx of Shares. (a) Subject to Sections 5 and 7 below, the Company shall, as soon as practicable and in all events no later than thirty (30) days following the applicable vesting date, transfer to the Participant (or, in the event of the Participant’s death, to the person to whom the Award has passed by will or the laws of descent and distribution) the number of Shares that equals the vested portion of the Award. No Shares will be transferred pursuant to the Award unless and until all legal requirements applicable to the issuance or transfer of such shares have been complied with to the satisfaction of the Administrator.
(b) The Participant understands that once Shares have been delivered, including by book entry, to the Participant in respect of the RSUs, the Participant will be free to sell such Shares, subject to applicable requirements of federal and state securities laws and compliance with all Company policies relating to trading in Company securities.
(c) Until such time as Shares are issued to the Participant pursuant to Section 3(a), the Participant shall have no rights as a stockholder with respect to any Shares underlying the Award, including, but not limited to any voting or dividend rights.
Xxxxxxxx of Shares. Within thirty (30) days following the vesting of the RSUs, the Participant shall receive the number of shares of Company Stock that correspond to the number of RSUs that have become vested on the applicable Vesting Date. No fractional shares shall be delivered under this Agreement, and any fractional share that may be deliverable shall be rounded to the nearest whole share.
Xxxxxxxx of Shares. Within thirty (30) days following the vesting of the PSUs, the Participant shall receive the number of shares of Company Stock that correspond to the number of PSUs that have become vested on the applicable Vesting Date. No fractional shares shall be delivered under this Agreement, and any fractional share that may be deliverable shall be rounded to the nearest whole share.
Xxxxxxxx of Shares.
(a) Within 30 days of the Participant’s termination of service as a Director, the Participant shall be issued one share of Common Stock for each vested RSU, provided that the Participant may not determine when during such 30-day period the shares of Common Stock shall be issued.
Xxxxxxxx of Shares. Unless otherwise provided herein, each vested PRSUs shall be settled within sixty (60) days following the end of the Performance Period. The PRSUs shall be settled by delivering to the Participant the number of shares of Common Stock that correspond to the number of PRSUs that have become vested as of the end of the Performance Period, less any shares of Common Stock or any amount withheld by the Company pursuant to Section 9 hereof. Notwithstanding the foregoing, if as of the settlement date, the Company’s stockholders have not approved an amendment to the Plan providing for an increase in the Total Shares available under the Plan such that there are a sufficient number of shares of Common Stock available under the Plan to deliver in respect of the Participant’s vested PRSUs, such Participant’s vested PRSUs shall be settled on such settlement date through a cash payment equal to the per share Fair Market Value of Common Stock as of the last trading day prior to such settlement date. For clarity, each Participant’s PRSUs shall be settled by delivery of shares of Common Stock so long as there are sufficient shares of Common Stock available under the Plan on the settlement date and the Company shall not have any discretion to elect to settle a Participant’s PRSUs in cash. No elections by any Participant shall be permitted with respect to the timing of any settlement of the PRSUs.
