Vested PSUs definition

Vested PSUs means a number of PSUs equal to the product of (i) the number of Target PSUs, times (ii) the TSR Performance Factor.

Split View

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Get StartedSchedule a Demo

Vested PSUs means a number of PSUs equal to the product of (i) the number of Target PSUs, times (ii) the Performance Factor deemed to be earned at the time that such a determination is required pursuant to this Agreement.

Vested PSUs means, with respect to PSUs, at the end of a Performance Period, the number of PSUs credited to each Participant’s account with respect to such award (including

Examples of Vested PSUs in a sentence

• Cash dividends on shares of Common Stock underlying the PSUs shall be credited to a dividend book entry account on behalf of the Participant, provided that any cash dividends shall be held uninvested and without interest, shall be subject to the same vesting conditions as the PSUs to which they relate, and shall be paid in cash at the same time that the shares of Common Stock underlying the Vested PSUs (if any) are delivered to the Participant in accordance with Section 4.

• Stock dividends on shares of Common Stock underlying the PSUs shall be credited to a dividend book entry account on behalf of the Participant, provided that any stock dividends shall be subject to the same vesting conditions as the PSUs to which they relate, and shall be paid in shares of Common Stock at the same time that the shares of Common Stock underlying the Vested PSUs (if any) are delivered to the Participant in accordance with Section 4.

• Vested PSUs will be paid to the Participant in whole shares of Common Stock.

• Vested PSUs rounded up to the nearest whole unit shall be delivered to you in the form of Common Shares no later than 75 days following the conclusion of the Performance Period.

• Vested PSUs, if any, shall be payable as set forth in the “Payment” section below.

• Such adjusted number of Target PSUs shall remain outstanding and eligible to become Vested PSUs subject to the level of satisfaction of the applicable Performance Goals, as determined in accordance with Section 3 hereof.

• PSUs which do not become Vested PSUs shall be immediately forfeited and the Participant shall have no further rights thereto.

• Vested PSUs shall be converted to Shares in accordance with the Payout Formula and shall be issued as soon as practicable following the end of the Performance Period and after the Committee has determined on the Determination Date that they have been earned, but not later than 90 days following the Determination Date.

• Unless otherwise provided in the Plan, your Performance Stock Units shall vest and become Vested PSUs in accordance with the terms and conditions of the Award Agreement.

• Payment in respect of Vested PSUs shall be made at the time(s) and in the form(s) set forth in the Award Agreement.

More Definitions of Vested PSUs

Vested PSUs means, with respect to PSUs, the number of PSUs granted to such Participant on the grant date multiplied by the Vesting Percentage.

Vested PSUs has the meaning set forth in Section 5.3(c)(i).

Vested PSUs means PSUs which have vested in accordance with the Plan and the terms of the applicable Award Agreement;

Vested PSUs means the number of PSUs that will vest for a Participant will correspond to the number of PSUs granted to such Participant on the grant date (including Dividend Equivalents) multiplied by the Vesting Percentage.

Vested PSUs means, with respect to PSUs, at the end of a Performance Period, the number of PSUs credited to each Participant’s account with respect to such award (including any Dividend Equivalents accrued thereon) multiplied by the Vesting Percentage;

Vested PSUs means PSUs which have vested in accordance with Section 5.5 or Article 6.