Phantom Stock definition

Phantom Stock means a right granted to an Eligible Individual under Section 12 representing a number of hypothetical Shares.

Split View

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Get StartedSchedule a Demo

Phantom Stock means the right, granted pursuant to Section 9, to receive in cash or shares the Fair Market Value of a share of Company Stock.

Phantom Stock means Awards under Section 9.

Examples of Phantom Stock in a sentence

• The Phantom Stock units and Dividend Equivalents subject to this Award are not assignable or transferable by the Grantee.

• Each Phantom Stock unit, upon becoming vested before its expiration, represents a right to receive payment in the form of one (1) share of Common Stock.

• Any deferral of Phantom Stock units by the Grantee hereunder shall apply to both the shares of Common Stock and the related tandem Dividend Equivalents.

• Upon any attempt to transfer, assign, pledge, hypothecate, sell or otherwise dispose of any such Phantom Stock unit or Dividend Equivalent, or of any right or privilege conferred hereby, or upon the levy of any attachment or similar process upon such Phantom Stock unit or Dividend Equivalent, or upon such right or privilege, such Phantom Stock unit or Dividend Equivalent or right or privilege, shall immediately become null and void.

• Payment shall be in the form of one (1) share of Common Stock for each full vested unit of Phantom Stock and any fractional vested unit of Phantom Stock shall not be payable unless and until subsequent vesting results in a full unit of Phantom Stock becoming vested.

More Definitions of Phantom Stock

Phantom Stock means a hypothetical share of Common Stock issued as phantom stock under the Plan.

Phantom Stock means an Award granted under Section 6.9.

Phantom Stock means an Award under Section 10 hereof entitling a Participant to a payment at the end of a vesting period of a unit value based on the Fair Market Value of a share of Common Stock.

Phantom Stock means a right, granted to a Participant under Section 6(e) hereof, to receive Stock, cash or a combination thereof at the end of a specified deferral period.

Phantom Stock means the right, granted pursuant to Section 11 of the Plan, to receive in cash the Fair Market Value of a share of Common Stock.

Phantom Stock means an Award granted under Section 6.9 of this Plan.

Phantom Stock means an Award under Section 10 hereof entitling a Participant to a payment based on a measure of value expressed as a share of Common Stock (“Phantom Stock Unit”). No stock certificates shall be issued with respect to such Phantom Stock Units, but AEP shall maintain a bookkeeping account in the name of the Participant to which the Phantom Stock Units shall relate.