Examples of Supplemental Shares in a sentence
To the extent reasonably practicable, any action taken by the Board to declare a stock dividend of the Supplemental Shares shall be done at a time such that the record date for such stock dividend would be on a date prior to the date of issuance of SpinCo Class A Common Stock to the third party in connection with the third party transaction.
The number of Supplemental Shares to be issued by SpinCo shall be calculated as (i) the number of additional shares the Lennar stockholders receiving Class A Common Stock at the Distribution Date would have received if the Distribution had been executed at the Third-Party Customer Price.
The issuance of the Supplemental Shares shall then be distributed to SpinCo’s stockholders as a stock dividend, subject to any requisite approvals of the SpinCo Board and in compliance with Maryland law.
Subject to the foregoing, the timing of the distribution of the Supplemental Shares shall be approved by the Board and in compliance with Maryland law and other applicable law, including federal securities laws.