Average Cost Per Share definition
Average Cost Per Share means with respect to any period the weighted average of the sum of (a) the average price paid (including commissions) by the Company in respect of Available Shares purchased by the Company during such period and (b) in respect of Available Shares purchased by the Company prior to such period that the Company makes available to the Plan and that are accepted by the Board Committee, the Fair Market Value as of the last trading day of such period.
Average Cost Per Share means a cost per share of Salomon Stock calculated as follows:
(i) After each purchase (or deemed purchase) of shares made in connection with or in anticipation of an award under an Equity Partnership Plan, the Average Cost Per Share shall be recalculated and shall equal (A) the Total Cost of Net Shares immediately after such purchase, divided by (B) the total number of Net Shares immediately after such purchase.
(ii) After each allocation of shares from the Suspense Account in respect of Salomon Inc's 17.65% contribution obligation with respect to dividends (or deemed dividends) as provided in Section 8 or under another Equity Partnership Plan, the Average Cost Per Share shall be recalculated and shall equal (A) the Total Cost of Net Shares immediately after such allocation, divided by (B) the total number of Net Shares held immediately after such allocation.
(iii) Contributions of Salomon Stock to the trusts under the Equity Partnership Plans by Salomon Inc shall be treated as purchases in anticipation of awards under the Equity Partnership Plans at the Daily Value as of the date of the contribution.
(iv) Forfeitures under the Equity Partnership Plans (other than forfeitures with respect to Rollovers from the Partnership Pool Plan that are described in Section 7(c)(ii)) shall be treated as purchases for the Equity Partnership Plans at the Daily Value as of the date of forfeiture of the number of shares forfeited. Restored forfeitures shall be treated as allocations as of the forfeiture date.
(v) If, on any date that shares of Salomon Stock are purchased for the Equity Partnership Plans, any Awards, Rollovers or dividends paid on Salomon Stock allocated to Participants' Accounts are awaiting investment, such purchases shall be deemed to be purchases to satisfy such Awards, Rollovers and dividends, pro rata based on the dollar amounts of such Awards, Rollovers and dividends. Any shares that are purchased in excess of the shares necessary to satisfy such uninvested Awards, Rollovers and dividends shall be held in the Suspense Account and shall be deemed to be purchased in anticipation of awards under the Equity Partnership Plans.
(vi) Effective as of June 6, 1990, in the event that there are any shares of Salomon Stock remaining in the Suspense Account on January 1 of any calendar year that were purchased or deemed to have been purchased in a prior calendar year, the Average Cost Per Share of such shares shall be deemed to be the Daily Value on the last tra...