Total Shareholder Return Multiplier definition
Examples of Total Shareholder Return Multiplier in a sentence
By way of example only and not as an expression of expected results, if the Relative Total Shareholder Return is [__]%, then the Relative Total Shareholder Return Multiplier would be [__]%.
The number of Shares issuable upon vesting of the PSUs shall be determined based upon (i) the number of PSUs determined to be eligible to vest based on the level of achievement of the Performance Objectives during the Measurement Period multiplied by (ii) the Relative Total Shareholder Return Multiplier for the Performance Period (as defined below).
The number of MRSUs eligible to vest as of each Service Date shall be calculated as follows as determined and approved by the Committee: the Target MRSU Award shall be multiplied by the percentage set forth opposite each Service Date in Section 2(a) above, and the result shall be multiplied by the Total Shareholder Return Multiplier as defined herein.
The number of Shares issuable at the end of the Performance Period shall be equal to (i) the Target Number of Shares multiplied by (ii) the percentage of the Target Number of Shares that are eligible to vest hereunder determined based on the level of achievement of the Performance Objectives, calculated under Step One below multiplied by (iii) the Relative Total Shareholder Return Multiplier, calculated under Step Two below.
Any MRSUs which vest pursuant to the provisions of Sections 2(d) through 2(f) shall be calculated by multiplying the percentage of the MRSUs which have not previously vested by the Target MRSU Award without using the Total Shareholder Return Multiplier set forth in Section 2(b).
Notwithstanding the Total Shareholder Return Multiplier, the Committee, in its sole and exclusive discretion, may reduce the amount of MRSUs which would otherwise vest based upon the Total Shareholder Return Multiplier if the Committee believes that risks were not properly assessed during the applicable vesting period.
The Total Shareholder Return Multiplier shall be subject to the achievement of Total Shareholder Return Rank, as follows: The Total Shareholder Return Multiplier shall be a linear interpolation for any achievement of the Total Shareholder Return Rank which falls between the above target percentage quartiles, as applicable; provided that, there shall be no linear interpolation for a Total Shareholder Return Rank that is less than 25%.
The maximum possible payout is 200% of the Target RSUs. Notwithstanding anything herein to the contrary, the Total Shareholder Return Multiplier will in no event exceed (x) 100% if the Company’s Total Shareholder Return for the Performance Period is negative and such decline does not exceed 25% during the Performance Period or (y) 50% if the Company’s Total Shareholder Return for the Performance Period is negative and such decline exceeds 25% during the Performance Period.
The number of Shares with respect to which the Option will vest and become exercisable at the end of the Performance Period shall be equal to (i) the Target Number of Shares multiplied by (ii) the percentage of the Target Number of Shares that are eligible to vest hereunder determined based on the level of achievement of the Performance Objectives, calculated under Step One below multiplied by (iii) the Relative Total Shareholder Return Multiplier, calculated under Step Two below.
The ranking of the Company’s Total Shareholder Return as compared to the Total Shareholder Return of each Comparison Company shall determine the Total Shareholder Return Multiplier using the chart below.