Vested Shares definition
Examples of Vested Shares in a sentence
Except as otherwise provided herein, prior to the termination of the Option (as provided in Section 4), the Option shall be exercisable for a number of shares of Common Stock not to exceed the number of Vested Shares less the number of Vested Shares for which the Option was previously exercised.
Notwithstanding the foregoing, any dividends or other distributions shall be subject to the same restrictions on transferability as the shares of Restricted Stock with respect to which they were paid, and any such dividends or other distributions shall become vested on the same date as the Restricted Stock to which such dividends or other distributions relate become Vested Shares.
In the event of a Change in Control, any unvested shares of Restricted Stock shall immediately vest in full and become Vested Shares, and Sections 11.2 and 11.3 of the Plan will govern the treatment of the Restricted Stock.
Except as otherwise provided herein, prior to the termination of the Option (as provided in Section 4), the Option shall be exercisable for a number of shares of Common Stock not to exceed the number of Vested Shares less the number of shares for which the Option was previously exercised.
The Number of Option Shares that become Vested Shares as of any date is determined pursuant to Appendix A attached to this Award Agreement The purpose of this Award Agreement is to establish a written agreement evidencing the Option granted pursuant to the Edible Garden AG Incorporated 2025 Officer and Director Equity Incentive Plan (the “Plan”).