Performance Stock Unit Award means an Award of Performance Stock Units that, upon attainment of the performance goals, entitles the Participant to shares of Common Stock.
Performance Stock Unit Award means an Award granted under the terms and conditions of Section 5(b)(i).
Performance Stock Unit Award means the grant of a right to receive a number of units, each unit having a value equal to a Share, based upon the attainment of one or more Performance Goals over a Performance Period and/or satisfaction of other terms and conditions, as determined by the Committee.
Examples of Performance Stock Unit Award in a sentence
For purposes of the Performance Stock Unit Award Agreement to which this Annex is attached (the “PSU Award Agreement”), the following capitalized terms shall have the meanings set forth below.
The Company may deliver any documents related to this Performance Stock Unit Award by electronic means and request your acceptance of this Agreement by electronic means.
The Administrator reserves the right to impose a restriction on the sale of Shares that the Participant receives with respect to the settlement of a Performance Stock Unit Award, unless the Participant has satisfied the ownership targets applicable to the Participant as provided in the Stock Ownership Policy.
Performance Stock Unit Awards shall be evidenced by a Performance Stock Unit Agreement to be executed by the Participant and the Corporation setting forth the terms and conditions of the Performance Stock Unit Award.
The performance period of a Performance Stock Unit Award shall be greater than one year, and performance shall be based on such criteria as the Compensation Committee shall determine in its discretion at the beginning of the performance period.
More Definitions of Performance Stock Unit Award
Performance Stock Unit Award or “Agreement”) is and will be subject in every respect to the provisions of the 2021 Equity Incentive Plan (the “Plan”) of Eastern Bankshares, Inc. (the “Company”), which are incorporated herein by reference and made a part hereof, subject to the provisions of this Agreement. The awards issued hereunder (“Awards”) shall be referred to as “Performance Stock Units.” A copy of the Plan and related prospectus have been provided or made available to each person granted a Performance Stock Unit Award pursuant to the Plan. The holder of this Performance Stock Unit Award (the “Participant”) hereby accepts this Performance Stock Unit Award, subject to all the terms and provisions of the Plan and this Agreement, and agrees that all decisions under and interpretations of the Plan and this Agreement by the committee appointed to administer the Plan (“Committee”) or the Board of Directors (the “Board”) will be final, binding and conclusive upon the Participant and the Participant’s heirs, legal representatives, successors and permitted assigns. The Performance Stock Units shall vest and become payable in shares of Stock of the Company according to the vesting provisions described below, subject to earlier expiration or termination of the Performance Stock Units, as provided in this Agreement. Capitalized terms used herein but not defined herein will have the same meaning as in the Plan. Any reference to “Bank” herein shall refer to Eastern Bank, and any reference to “Employer” shall mean the Company, the Bank or any subsidiary of the Company or the Bank, as applicable.
Performance Stock Unit Award with respect to a number of performance stock units (“PSUs”), subject to the terms and conditions set forth in this Performance Stock Unit Award Agreement (this “Agreement”). Each PSU represents your right to receive one share of Stock (defined below) on the applicable settlement date set forth below, to the extent earned and vested in accordance with this Agreement, including Exhibit A attached hereto. The grant of the Performance Stock Unit Award is specifically conditioned upon (i) the approval of this grant to you by the Board (as defined below), and (ii) the execution by you of this Agreement, agreeing to all of the terms and conditions set forth herein. The Date of Grant and the number of PSUs subject to this Performance Stock Unit Award are stated above. The Performance Stock Unit Award is not governed by the Xxxxx-Xxxxx, Inc. 2013 Omnibus Incentive Plan, 2005 Omnibus Incentive Plan or by any other equity compensation plan of the Company (or of any of its affiliates). Instead, this Performance Stock Unit Award is made outside of any equity compensation plan of the Company (or any of its affiliates), as an inducement contemplated by Section 303A.08 of the New York Stock Exchange Listed Company Manual. No payment is required for the Stock that you receive pursuant to this Performance Stock Unit Award.
Performance Stock Unit Award means a Grant of Performance Stock Units under the Plan. Performance Stock Units Awards under the Plan shall be granted pursuant to a Performance Stock Unit Agreement.
Performance Stock Unit Award or “PSU Award.”
Performance Stock Unit Award means a Participant’s right to receive a stated number of Shares of Common Stock pursuant to Section 10 of the Plan that is forfeitable by the Participant until the completion of the Period of Restriction or until otherwise determined by the Committee or the Board or in accordance with the Plan. Each Performance Stock Unit Award represents an unfunded and unsecured obligation of the Company.
Performance Stock Unit Award or “PSU Award.” The number of Stock Units and the rights granted under this Agreement are subject to adjustment and modification as provided in the Plan. Accordingly, the total number of Stock Units referred to in this Section means, at any relevant time, the number of Stock Units stated below, as such number shall then have been adjusted pursuant to the Plan. Target Number of Stock Units:
Performance Stock Unit Award or “Agreement”) is and will be subject in every respect to the provisions of the 2022 Equity Incentive Plan (the “Plan”) of Northwest Bancshares, Inc. (the “Company”) which are incorporated herein by reference and made a part hereof, subject to the provisions of this Agreement. A copy of the Plan and related prospectus have been provided to each person granted a performance-based Restricted Stock Unit (“Performance Stock Unit” or “PSU”) Award pursuant to the Plan. The holder of this Performance Stock Unit Award (the “Participant”) hereby accepts this Performance Stock Unit Award, subject to all the terms and provisions of the Plan and this Agreement, and agrees that all decisions under and interpretations of the Plan and this Agreement by the committee appointed to administer the Plan (“Committee”) or the Board of Directors will be final, binding and conclusive upon the Participant and the Participant’s heirs, legal representatives, successors and permitted assigns. Except where the context otherwise requires, the term “Company” will include the parent and all present and future subsidiaries of the Company as defined in Section 424(e) and 424(f) of the Internal Revenue Code of 1986 (the “Code”). Capitalized terms used herein but not defined will have the same meaning as in the Plan. For valuable consideration, the Company does hereby grant to the Participant a Performance Stock Unit Award for the number of Performance Stock Units as set forth below, effective on the “Date of Grant” set forth below. The Performance Stock Units granted under this Agreement shall, subject to the attainment of certain performance goal(s) set forth below (the “Performance Goal(s)”), relating to the performance measures, vest and become payable in shares of common stock of the Company (the “Shares”), subject to earlier expiration or termination of the Performance Stock Units, as provided in this Agreement. Date of Grant: