Examples of Acuity Common Stock in a sentence
All outstanding options held by non-employee directors of SpinCo who were previously non-employee directors of Acuity shall remain as stock options for Acuity Common Stock under the Acuity Long-Term Incentive Plan and shall be adjusted as provided in the fourth paragraph of Section 6.3(a) by the applicable Conversion Formula.
The RSUs for Acuity Common Stock shall be converted to RSUs for SpinCo Common Stock by crediting the Transferred Individual with a number of RSUs for SpinCo Common Stock equal to the fair market value of the RSUs for Acuity Common Stock on the Distribution Date.
Such options shall continue to be held as options for Acuity Common Stock and the number of options and exercise price for such options shall be adjusted as of the Distribution Date in the same manner as provided in subsection (ii) of the preceding paragraph.
The options for Acuity Common Stock held by Transferred Individuals who have terminated employment prior to the Distribution Date shall not be converted to options for SpinCo Common Stock.
As of the Effective Date, Acuity has granted Executive an award of 15,810 shares of Acuity Common Stock as a Restricted Stock Award under the Acuity LTIP [the number of shares of Restricted Stock to be awarded shall have an award value of not less than $1 million], which will vest in equal installments annually over 3 years commencing one year from the grant date, such that the shares of Restricted Stock will be fully vested upon the third anniversary of the date of grant.
Executive agrees to enter into amendments effective as of the date of this Agreement to his current Restricted Stock Agreements for shares of Acuity Common Stock providing that a Noncovered CIC Transaction (as described in Paragraph 4.8 above) shall not constitute a Change in Control under such Agreements and that, as a result, no acceleration of the vesting of unvested shares of Restricted Stock shall occur.
The RSUs held by Transferred Individuals who have terminated employment prior to the Distribution Date shall not be converted to RSUs for SpinCo Common Stock and shall remain RSUs for Acuity Common Stock.
Any account balance that is deemed to be invested in whole or in part in phantom shares of Acuity Common Stock shall remain in phantom shares of Acuity Common Stock, and the number of phantom shares shall be adjusted such that the fair market value of the phantom shares in the SpinCo Deferred Compensation Plan Immediately After the Distribution Date equals the fair market value of such phantom shares immediately prior to the Distribution.
The Acuity Common Stock and the Acuity Preferred Stock have the rights, preferences, privileges and restrictions set forth in the Acuity Certificate and under Delaware Law.
Executive agrees to enter into amendments effective as of the date of this Agreement to his current Restricted Stock Award Agreements for shares of Acuity Common Stock providing for a cancellation of such unvested Restricted Stock Awards on a date (“Cancellation Date”) shortly before the date of the Spinoff.