Examples of Director Restricted Shares in a sentence
Employee and Director Restricted Shares As part of its stock incentive plan, the Company issues restricted shares for which the fair value is equal to the price of the Company’s Class A ordinary shares on the grant date.
Subject to approval by the Board and the Compensation Committee, and as additional compensation, the Corporation shall grant to Director Restricted Shares equal to $15,000.00 (“Restricted Stock”) of the Corporation’s Common Stock, $0.001 par value per share, payable in quarterly installments of such restricted shares equal to $3,750.00 on the date of the company’s quarterly meeting of the Board of Director’s in arrears.
In the event of any transaction described in the second sentence of Section 6.1(b) the Director Restricted Shares shall become fully vested.
Except as provided otherwise in this Plan, such Director Restricted Shares shall be subject to the same terms and conditions as are applicable to Restricted Shares.
The Director Restricted Shares shall fully vest if the Non-Employee Director completes the term or partial term for which he or she was elected.
The Committee is hereby authorized to grant Awards of Performance-Based Restricted Shares or Non-employee Director Restricted Shares to Participants upon the following terms and conditions and with such additional terms and conditions, in either case not inconsistent with the provisions of the Plan, as the Committee shall determine.
Directors of the Company who are not full-time Employees are only eligible to receive Director Restricted Shares under Section 7.5 and Director Shares under Section 10.
Employee and Director Restricted Shares For the six months ended June 30, 2020, 306,264 (2019: 235,701) Class A ordinary shares were issued to employees pursuant to the Company’s stock incentive plan.
If an Eligible Director ceases to be a Director by reason of removal or resignation as a member of the Board, any unvested Director Restricted Shares shall automatically be forfeited, and the shares subject to such award shall be available for grant under this Plan.
Employee and Director Restricted Shares For the nine months ended September 30, 2021, the Company issued 334,312 (2020: 306,264) Class A ordinary shares to employees pursuant to the Company’s stock incentive plan.