Examples of Relative TSR Ranking in a sentence
On the third anniversary of the Grant Date, the number of RSUs that shall become vested and non-forfeitable shall equal 100% of the Target Total Award multiplied by the Vesting Percentage associated with both the Grant Average AOM and Relative TSR Ranking on the chart below, rounded down to the nearest full Share, as the same shall be calculated by the Committee.
For example, if the Relative TSR Ranking for the Performance Period were the 65th percentile, the Vesting Percentage would be 120%.
Vesting to range from 0% to 150%; straight line interpolation to be used for actual results of Grant Average AOM and Relative TSR Ranking.
The Company’s Relative TSR Ranking metric is based on the two (2) or three (3) year cumulative return to shareholders from the change in stock price and dividends paid between the starting and ending dates.
Subject to Section 3 below, the Earned Performance Stock Units shall vest on the date that the Committee (as defined below) certifies the Company’s Relative TSR Ranking and determines the number of Earned Performance Stock Units (which will be as soon as administratively practicable following the end of the Performance Period, but in no event later than March 1, 2024).
For clarity, (i) no Performance Stock Units shall be eligible to vest if the Company’s Relative TSR Ranking is below the 25th percentile and (ii) the total number of Earned Performance Stock Units may not exceed the Maximum Number of Performance Stock Units (as set forth in the Grant Notice).1.Vesting Date.
The PSUs shall vest based on the Company’s Relative TSR Ranking (as defined below) and Core FFO (as defined below) for the Performance Period (as defined below).
Any portion of the PSUs which do not vest as a result of the Company’s Relative TSR Ranking and/or Core FFO for the Performance Period being below the threshold for vesting set forth above shall automatically and without further action be cancelled and forfeited by Participant, and Participant shall have no further right or interest in or with respect to such PSUs or any related Dividend Equivalents.
The Relative TSR Ranking target is the 50th percentile (the “Target TSR Ranking”).
If the Company achieves a Relative TSR Ranking that falls between the following levels, the Performance Multiplier will be determined by linear interpolation between the applicable levels.