Section 423 Option definition

Section 423 Option means each right to purchase stock under any employee stock purchase plan (as described in Section 423 of the Code) of the Company and its Subsidiaries.
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Section 423 Option means an option to purchase Shares as determined by the Committee in its or their sole discretion that is granted to a Section 423 Eligible Employee in accordance with this Rule 15 and Code Section 423.
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Examples of Section 423 Option in a sentence

  • No Section 423 Option awarded in accordance with the terms of the Employee Stock Purchase Plan shall be transferable otherwise than by will or by the laws of descent and distribution, and shall be exercisable only by the Participant to whom it is granted or by a transferee as permitted herein.

  • No Eligible Employee shall be granted an Option under the Plan if such Option would permit such Eligible Employee’s Section 423 Options to accrue at a rate that exceeds $25,000 of the Fair Market Value of the Shares issuable under such 423 Options (determined at the time the Section 423 Option is granted) for each calendar year in which any Section 423 Option granted to the Eligible Employee is outstanding at any time.

  • Shares to be purchased upon exercise of a Section 423 Option shall be paid for using the payroll deductions, the terms and conditions of which are designated by the Company, which have accumulated during the applicable Savings Period.

  • If any law or applicable regulation of the United States of America’s Securities and Exchange Commission or other body having jurisdiction shall require that the Company take any action in connection with the Shares being purchased under the Section 423 Option, delivery of the certificate or certificates for such Shares shall be postponed until the necessary action shall have been completed.

  • Enrollment by a Section 423 Eligible Employee in the Plan with regard to Section 423 Options as of an Enrollment Date will constitute the grant by the Company to such Participant of a Section 423 Option on such Enrollment Date.

  • Neither amounts credited to a Participant’s Account nor any rights with respect to the exercise of a Section 423 Option or to receive Shares under the Plan may be assigned, transferred, pledged, or otherwise disposed of in any way by the Participant other than by will or the laws of descent and distribution.

  • The Section 423 Option will expire, to the extent not exercised, on the earlier of the date three months after the Exercise Date or and any payment amounts together with any interest due will be returned to the Participant.

  • A Section 423 Option shall expire, if not sooner terminated in accordance with the Plan, on the earliest to occur of: (a) any date specified in Rule 15(5)(iii); (b) the completion of the purchase of Shares under the Option under Rule 15(6); or (c) the date on which participation of such Participant in the Plan under this Rule 15 terminates for any reason.

  • If the Option Price exceeds the Exercise Date Price of a Section 423 Option, the Option shall not be exercised automatically and, at any time in the three months following the Exercise Date, the Participant may either exercise the Section 423 Option in accordance with Rule 8 or request in writing that any payment amounts be returned to him, together with any interest due.

  • No Eligible Employee may purchase in any one Offering Period shares of Common Stock having an aggregate Fair Market Value in excess of $25,000 USD (determined at the time the Section 423 Option is granted).

Related to Section 423 Option

  • Incentive Stock Option means an Option intended to qualify as an incentive stock option within the meaning of Section 422 of the Code and the regulations promulgated thereunder.

  • Nonstatutory Stock Option means an Option not intended to qualify as an Incentive Stock Option.

  • Company Stock Option means each option to purchase shares of Company Common Stock outstanding under the Company Stock Plans.

  • Stock Option Plans means any stock option plan now or hereafter adopted by the Partnership or the General Partner.

  • Company Stock Option Plans means the 1996 Equity Incentive Plan, 1998 Stock Option Plan for Non-Employee Directors and 1999 Employee Stock Option Plan.

  • Incentive Stock Options means Option Rights that are intended to qualify as “incentive stock options” under Section 422 of the Code or any successor provision.

  • 3(i) Option means an Option granted pursuant to Section 3(i) of the Ordinance to any person who is Non- Employee.

  • Company Stock Option Plan means the Company's 1999 Stock Option Plan.

  • Parent Stock Option means any option to purchase Parent Common Stock.

  • Company Stock Options means issued and outstanding options to acquire Company Common Stock which were granted under the Company Stock Option Plans.

  • Nonqualified Option means any Option that is not an Incentive Stock Option.

  • Stock Option Plan means any stock option plan now or hereafter adopted by the Company or by the Corporation, including the Corporate Incentive Award Plan.

  • Reload Option means any Option granted under Section 6(a)(iv) of the Plan.

  • Non-Statutory Stock Option means a right to purchase Common Stock granted to an Eligible Recipient pursuant to Section 6 of the Plan that does not qualify as an Incentive Stock Option.

  • Stock Option means a contractual right granted to an Eligible Person under Section 6 hereof to purchase shares of Common Stock at such time and price, and subject to such conditions, as are set forth in the Plan and the applicable Award Agreement.

  • Nonqualified Stock Option means an Option that is not an Incentive Stock Option.

  • Nonstatutory Option means a stock option not described in Sections 422(b) or 423(b) of the Code.

  • Incentive Option means an option which satisfies the requirements of Code Section 422.

  • Parent Option means an option to purchase shares of Parent Common Stock.

  • Top-Up Option has the meaning set forth in Section 1.04(a).

  • Share Option means a Nonqualified Share Option or an Incentive Share Option.

  • ISO means an employee incentive stock option described in Section 422(b) of the Code.

  • Stock Options means the collective reference to "Incentive Stock Options" and "Other Stock Options".

  • 102 Option means any Option granted to Employees pursuant to Section 102 of the Ordinance.

  • Option Plans has the meaning set forth in Section 2.6 below.

  • Ten Percent Owner Optionee means an Optionee who, at the time an Option is granted to the Optionee, owns stock possessing more than ten percent (10%) of the total combined voting power of all classes of stock of a Participating Company within the meaning of Section 422(b)(6) of the Code.