Mandatory Shares definition

Mandatory Shares means Shares which have to be purchased by the Optionee in the market and retained in order to be entitled to acquire Optioned Shares/Warrants.

Mandatory Shares means the Shares described in Paragraph 3(a) hereof.

Mandatory Shares has the meaning set forth in the Recitals.

Examples of Mandatory Shares in a sentence

• Under the Non-Employee Directors' Plan, the directors are required to receive a portion of their annual retainer in shares of Class A Common (the "Mandatory Shares").

• For avoidance of doubt, if the number of Shares/Warrants subject to Option is reduced due to that the Option has been partly exercised, the Optionee may dispose of Mandatory Shares corresponding to such exercise without any further reduction of the remaining Shares/Warrants subject to the Option.

• If the Optionee at any time during the Option term disposes of Mandatory Shares, the number of Shares/Warrants subject to the Option shall correspondingly be terminated and cancelled without any payment therefore.

• Both the Mandatory Shares and the cash lump sum portions of the Award shall be issued or paid, as applicable, as soon as reasonably practicable after the close of the Plan Year.

• A minimum of twenty-five percent (25%) of the Award shall be paid in the form of Mandatory Shares, the number of which shall be determined as the quotient obtained by dividing (x) 25% of the Award by (y) the Fair Market Value per Share determined as of the last day of the Plan Year.

• In no event shall the Mandatory Shares in Excess of Cap for any Mandatory Conversion Date be less than zero.

• Amounts in this column reflect the aggregate grant date fair value of the Mandatory Shares and Voluntary Shares that were granted to directors under the Non-Employee Directors' Plan, determined pursuant to the Financial Accounting Standards Board Accounting Standards Codification Topic 718, which we refer to as "FASB ASC Topic 718".

• All Mandatory Shares and Voluntary Shares are immediately vested when granted.

• Amounts in this column reflect the aggregate grant date fair market value of the Mandatory Shares and Voluntary Shares that were granted to directors under the Non-Employee Directors' Plan, determined pursuant to the Financial Accounting Standards Board Accounting Standards Codification Topic 718, which we refer to as FASB ASC Topic 718.

• Amounts in this column reflect the aggregate grant date fair value of the Mandatory Shares and Voluntary Shares that were granted to directors under the Non-Employee Directors' Plan, determined pursuant to the Financial Accounting Standards Board Accounting Standards Codification Topic 718, which we refer to as FASB ASC Topic 718.

More Definitions of Mandatory Shares

Mandatory Shares means the minimum shares that must be purchased by a new member of a credit union as a condition of membership;

Mandatory Shares means the minimum number of shares issued as a condition of membership, being 1 000 (one thousand) shares at R1.00 (one rand) per share. “Member” means a member of the Co-operative.