Examples of Steel Stock in a sentence
Steel Group common stock (Steel Stock), which was intended to reflect the performance of Marathon's steel business.
For the year at issue, the USX Consolidated Group files a claim for refund totaling $10 million, of which $8 million is attributable to Tax Items generated by, or allocated to, the United States Steel Stock Group and $2 million is attributable to Tax Items generated by, or allocated to, the Marathon Stock Group.
The term “accrued benefit” is defined to mean the number of units of Marathon Stock (as renamed the Marathon Oil Corporation common stock) and the number of units of Steel Stock (as converted to United States Steel Corporation common stock) the participant has accrued in his or her account under the Program.
The term “accrued benefit” is defined to mean the number of units of Marathon Stock (as renamed the Marathon Oil Corporation common stock), the number of shares of Marathon Petroleum Company Common Stock, and the number of units of Steel Stock (as converted to United States Steel Corporation common stock) the participant has accrued in his or her account under the Program.
Except as provided below, accrued but unpaid interest shall not be paid in cash on Convertible Debentures that are converted by a Holder into Steel Stock, nor shall such accrued interest be converted into additional shares of Steel Stock, but such accrued interest shall be deemed to be paid in full and then returned by the Holder to the Company as partial consideration for the Steel Stock received upon conversion.
Steel was capitalized through the issuance of 89.2 million shares of common stock to the holders of Steel Stock in exchange for all outstanding shares of Steel Stock on a one-for-one basis (the Separation).
A Holder of Convertible Debentures on a Regular Record Date who (or whose transferee) tenders any such Convertible Debentures for conversion into shares of Steel Stock on such Interest Payment Date shall receive the interest payable by the Company on such Convertible Debentures on such date, and the converting Holder need not include payment of the amount of such interest upon surrender of Convertible Debentures for conversion.
The Company shall make no payment or allowance for dividends on the shares of Steel Stock issued upon conversion.
The Company may, at its option, pay the Redemption Price in cash, shares of Marathon Stock or Steel Stock (based on the Current Market Price of such shares at the time of redemption) or any other form of consideration deemed appropriate by the Board of Directors.
As soon as practicable after the Distribution Date, Certificates for Marathon Rights and Steel Rights will be mailed to holders of record of the Marathon Stock and Steel Stock, respectively, as of the close of business on the Distribution Date and, thereafter, the separate Certificates for Marathon Rights and Steel Rights alone will represent the Marathon Rights and Steel Rights, respectively.