Net Exercised definition

Net Exercised means the exercise of an Option or any portion thereof by the delivery of the greatest number of whole shares of Common Stock having a Fair Market Value on the date of exercise not in excess of the difference between the aggregate Fair Market Value of the shares of Common Stock subject to the Option (or the portion of such Option then being exercised) and the aggregate exercise price for all such shares of Common Stock under the Option (or the portion thereof then being exercised), with any fractional share that would result from such equation to be payable in cash.
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Net Exercised means a Replacement Option may, in lieu of exercise, be surrendered to the Purchaser at the election of the Company Optionholder, in consideration for the Purchaser delivering to the Company Optionholder a number of Subordinate, Restricted or Limited Voting Shares, as applicable, having an aggregate Fair Market Value (as determined on the date of exercise) equal to the excess, if positive, of the Fair Market Value of the Subordinate, Restricted and Limited Voting Shares underlying the Replacement Option being exercised on the date of exercise, over the exercise price of the Replacement Option for such Subordinate, Restricted or Limited Voting Shares. For these purposes “Fair Market Value” of a Subordinate, Restricted or Limited Voting Share on any date shall mean the closing price of the Subordinate, Restricted and Limited Voting Shares on the CSE for the trading day immediately preceding the exercise date. Notwithstanding the foregoing, the Purchaser may require a Company Optionholder, as a condition to the surrender of a Replacement Option, to pay or reimburse the Purchaser for any federal, provincial, state or local law relating to the withholding of tax or other required deductions (“Applicable Withholding Taxes”) or to direct the Purchaser to withhold the number of shares that would be required to be sold to pay the Applicable Withholding Taxes.
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Examples of Net Exercised in a sentence

  • Additionally, to the extent authorized by the Committee (whether at or after the grant date), Options may be Net Exercised subject to such terms and conditions as the Committee may from time to time impose.

  • Additionally, to the extent authorized by the Committee (whether at or after grant), Options may be Net Exercised subject to such terms and conditions as the Committee may from time to time impose.

  • In applying the immediately preceding sentence, if (i) shares otherwise issuable or issued in respect of, or as part of, any Award that are withheld to cover taxes shall not be treated as having been issued under the Plan and (ii) any SARs are settled in shares of Common Stock or any Options are Net Exercised, only the net number of shares of Common Stock issued in respect of such SARs or Options shall be deemed issued under the Plan.

  • Notwithstanding the foregoing, if on the last day of the Option Period, the Fair Market Value exceeds the Exercise Price, the Participant has not exercised the Option, and the Option has not otherwise expired, such Option shall be deemed to have been Net Exercised by the Participant on such last day prior to the expiration of the Option Period and the Company shall make the appropriate payment therefor.

  • Additionally, to the extent authorized by the Committee (whether at or after grant), Options may be Net Exercised subject to such terms and conditions as the Committee may from time to time impose.(e)Incentive Stock Options.

  • At the time of exercise of the Stock Option, payment of the purchase price must be made in cash, or if the Company in its discretion agrees to accept, options may be Net Exercised subject to such terms and conditions as the Company may from time to time impose.

  • In applying the immediately preceding sentence, if (i) shares otherwise issuable or issued in respect of, or as part of, any Award that are withheld to cover taxes shall not be treated as having been issued under the Plan and (ii) any Options are Net Exercised, only the net number of shares of Common Stock issued in respect of such Options shall be deemed issued under the Plan.

  • Without limiting the generality of the foregoing, any vested and exercisable Options may also be Net Exercised, to the extent permitted by the Administrator.iii.SHAREHOLDER RIGHTS.

  • Without limiting the generality of the foregoing, any vested and exercisable Options may also be Net Exercised, to the extent permitted by the Administrator.

  • In applying the immediately preceding sentence, (i) shares otherwise issuable or issued with respect to, or as part of, any Award that are withheld to cover taxes shall not be treated as having been issued under the Plan and (ii) if any SARs are settled in shares of Common Stock or any Options are Net Exercised, only the net number of shares of Common Stock issued with respect to such SARs or Options shall be deemed issued under the Plan.

Related to Net Exercised

  • Net Exercise means a Net Exercise as defined in Section 6.3(b)(iii).

  • Option Exercise Price means the price at which a share of Common Stock may be purchased upon the exercise of an Option.

  • Notice of Exercise means a notice in writing addressed to the Company at its address first recited, which notice shall specify therein the number of Optioned Shares in respect of which the Option is being exercised;

  • Aggregate Exercise Price means an amount equal to the product of (a) the number of Warrant Shares in respect of which this Warrant is then being exercised pursuant to Section 3 hereof, multiplied by (b) the Exercise Price in effect as of the Exercise Date in accordance with the terms of this Warrant.

  • Exercise Price means the initial exercise price or the adjusted exercise price, depending on the context.

  • Minimum Exercise Amount means the Minimum Exercise Amount as specified in § 1 of the Product and Underlying Data.

  • Option Price means the price at which a Share may be purchased by a Participant pursuant to an Option.

  • Cashless Exercise means a Cashless Exercise as defined in Section 6.3(b)(i).

  • Option Exercise Notice has the meaning set forth in Section 2.4(c).

  • New Exercise Date means a new Exercise Date if the Administrator shortens any Offering Period then in progress.