Examples of PEC Common Stock in a sentence
The PEC Common Stock is designated as a national market security on an inter-dealer quotation system by the National Association of Securities Dealers, Inc.
As of the date hereof, the authorized capital stock of PEC consists of 50,000,000 shares of common stock, par value $0.01 per share ("PEC Common Stock") and 1,000,000 shares of preferred stock, par value $0.01 per share ("PEC Preferred Stock").
No certificates representing fractional shares of PEC Common Stock shall be issued.
In lieu of any such fractional securities, each holder of shares of High Valley Common Stock who would otherwise have been entitled to receive a fraction of a share of PEC Common Stock shall receive cash (without interest) in an amount equal to the product of such fractional part of a share of PEC Common Stock multiplied by the Average Price.
The Merger shall have been adopted by the affirmative vote of the holders not less than a majority of the outstanding shares of UTI Common Stock, and the Agreement and the Charter Amendment shall have been adopted by the affirmative vote of the holders of not less than a majority of the outstanding shares of PEC Common Stock.
UTI and PEC shall furnish each other all information concerning UTI and the holders of UTI Common Stock or PEC and the holders of PEC Common Stock, as the case may be, required for use in the S-4 Registration Statement and the Joint Proxy Statement, and UTI and PEC each shall take such other actions as the other may reasonably request in connection with the preparation of the S-4 Registration Statement and the Joint Proxy Statement and the actions to be taken pursuant to this Section 5.2.
PEC Restricted Shares held by Patriot Senior Management Employees that are scheduled to vest later than January 3, 2008 and have not been forfeited by the Distribution Date shall become fully vested immediately prior to the Distribution and shall be distributed to the Patriot Senior Management Employees in the form of registered shares of PEC Common Stock as soon as practicable on or after the Distribution Date.
All shares of PEC Common Stock issuable pursuant to the Stock Purchase in accordance with this Agreement, will be, when so issued, duly authorized, validly issued, fully paid and non-assessable and free of preemptive rights.
With respect to Patriot Participant elections to invest in PEC Common Stock, the Patriot 401(k) Plan will invest new deferral amounts covered by such elections in the appropriate default target retirement fund under the Patriot 401(k) Plan and Patriot Participants may change the investment of such amounts in accordance with Patriot 401(k) Plan procedures.
The Option Holders will receive the same amount of PEC Common Stock upon exercise of their PEC Stock Options as they would have received had they exercised their UTI Stock Options before the Merger and received PEC Common Stock in the Merger in exchange for the UTI Common Stock they would have received as a result of such exercise.