MSU Award definition

MSU Award means an Award granted as an “MSU Award” hereunder that is denominated in Shares, including any cash dividend equivalent rights related thereto. Each MSU is a notional unit of measurement having a value equivalent to one Share, subject to the terms hereof. The MSUs are unfunded, unsecured obligations of the Company.
Sample 1Sample 2Sample 3
MSU Award means performance-based compensation relating to services performed over an MSU Performance Period, payable as an award for the future delivery of Stock granted under any stock incentive plan of Hovnanian Enterprises, Inc. pursuant to a "Market Share Unit Agreement" between Hovnanian Enterprises, Inc. and the Participant.
Sample 1

Examples of MSU Award in a sentence

  • If, prior to the end of the Performance Period, a Participant’s employment is terminated because of death, disability or Retirement, any LTPP Award and MSU Award of such Participant shall be reduced pro rata to reflect only employment prior to that termination.

  • As a condition precedent to any portion of the MSU Award vesting, the MSU Performance Goal adopted by the Committee must be achieved and the Committee must certify to such achievement pursuant to Section 10.3 of the Omnibus Plan within 60 days following the end of the Performance Period.

  • If a Participant ceases to be employed by the Company (or any Affiliate) for any reason other than for Cause following the close of the applicable Performance Period, the Participant shall be entitled to payment or settlement of his or her LTPP Award and MSU Award at the time and on the basis specified in Section 3.4 or Section 4.4, as the case may be.

  • The reduced LTPP Award and MSU Award shall be based upon the number of calendar months of employment from the beginning of the applicable Performance Period (or, if later, the date of the Participant’s hire) until the date of such termination.

  • The actual number of MSUs awarded to a Participant hereunder may range from 0% to 150% of the Participant’s Target MSU Award.

  • No MSU Award shall be paid to any Covered Employee if the MSU Performance Goal is not achieved.

  • If the MSU Performance Goal is achieved, each Participant shall be eligible to receive his or her Eligible MSU Award.

  • If, prior to the date on which an LTPP Award or MSU Award is finally paid or settled, a Participant’s employment is terminated for Cause, all of the Participant’s rights to any Awards hereunder shall be forfeited.

  • The Company will provide each Participant with an Award Notice, substantially in the form of Exhibit B attached hereto, setting forth such Participant’s Target MSU Award.

  • Participants eligible to receive an MSU Award shall be those persons designated by the Committee during the first 90 days of the Performance Period or new hires or those persons who may be promoted and are designated as Participants by the Committee at the time of hiring or promotion.

Related to MSU Award

  • RSU Award or “RSU” means an Award of restricted stock units representing the right to receive an issuance of shares of Common Stock which is granted pursuant to the terms and conditions of Section 5(a).

  • RSU means a contractual right granted pursuant to Section 9 that is denominated in Shares. Each RSU represents a right to receive the value of one Share (or a percentage of such value) in cash, Shares or a combination thereof. Awards of RSUs may include the right to receive dividend equivalents.

  • Company RSU Award means each restricted stock unit that is (i) subject solely to service-based vesting and (ii) payable in shares of Company Class A Common Stock or the value of which is determined with reference to the value of shares of Company Class A Common Stock.

  • Restricted Stock Unit Award means a right to receive shares of Common Stock which is granted pursuant to the terms and conditions of Section 6(b).

  • PSU means Public Sector Undertaking

  • Restricted Stock Unit Award Agreement means a written agreement between the Company and a holder of a Restricted Stock Unit Award evidencing the terms and conditions of a Restricted Stock Unit Award grant. Each Restricted Stock Unit Award Agreement will be subject to the terms and conditions of the Plan.

  • Share Award means an Award of Shares granted pursuant to Section 10.

  • Performance Stock Unit means a right granted to a Participant pursuant to Section 8.2, to receive Stock, the payment of which is contingent upon achieving certain Performance Goals or other performance-based targets established by the Committee.

  • Performance Stock Award means a Stock Award granted under the terms and conditions of Section 6(c)(i).

  • Performance Share Award means an Award entitling the recipient to acquire shares of Stock upon the attainment of specified Performance Goals.

  • Stock Unit means a bookkeeping entry representing the equivalent of one Share, as awarded under the Plan.