Deferred Settlement Date definition
Examples of Deferred Settlement Date in a sentence
If the Grantee makes such an election, but a transaction occurs that subjects the Grantee’s Performance Shares to Section 19 of the Plan prior to the Deferred Settlement Date, the Grantee’s deferral election will terminate and the Grantee’s Performance Shares and Dividend Equivalents will be settled as of the date of that transaction.
If the Grantee makes such an election, but a transaction occurs that subjects the Grantee’s Shares to Section 19 of the Plan prior to the Deferred Settlement Date, the Grantee’s deferral election will terminate and the Grantee’s Shares and Dividend Equivalents will be settled as of the date of that transaction.
Notwithstanding the foregoing, if the Grantee elects to receive any Shares on a Deferred Settlement Date established pursuant to Section 6 of this Agreement, the Units to which such election applies shall be settled on the Deferred Settlement Date.
The actual delivery of share certificates (net of any shares withheld for taxes) will be made to you on the Deferred Settlement Date.
The Restricted Stock Units may not, at any time prior to the Deferred Settlement Date, be assigned, alienated, pledged, attached, sold or otherwise transferred or encumbered by the Participant and any such purported assignment, alienation, pledge, attachment, sale, transfer or encumbrance shall be void and unenforceable against the Company or any Affiliate; provided that the designation of a beneficiary shall not constitute an assignment, alienation, pledge, attachment, sale, transfer or encumbrance.
Within 30 days after the Deferred Settlement Date, the Company shall make a cash payment to the Participant equal to the Fair Market Value of a share of Common Stock, determined as of the Deferred Settlement Date, multiplied by the number of whole and fractional notional shares of Common Stock credited to the Participant’s Deferral Account.
As soon as practicable following the Deferred Settlement Date, certificates for the Shares which shall be issued in respect of this Restricted Stock Unit Award that have vested shall be delivered to the Participant or to the Participant’s legal guardian or representative along with the stock powers relating thereto.
As from the Deferred Settlement Date, (i) the Participant shall be the record owner of the number of Shares that vest pursuant to the Restricted Stock Unit Award and shall be entitled to all rights of a common stockholder of the Company, including, without limitation, voting rights with respect to the Shares, and (ii) the Participant shall receive, when paid, any dividends on all of the Shares granted under this Section 4 as to which the Participant is the record holder on the applicable record date.
The Participant shall not be the record owner of Shares issuable in respect of the Restricted Stock Unit Award until or unless such Restricted Stock Units vest and the Deferred Settlement Date has occurred.
At least one year prior to the earliest Settlement Date, the Director may elect to defer payment of the shares of Common Stock corresponding to any vested Restricted Stock Units to another date ("Deferred Settlement Date") provided the Deferred Settlement Date is not earlier than the fifth anniversary of the Settlement Date.