Vested Stock Unit definition

Vested Stock Unit means, with respect to a Stock Unit subject to this Agreement, that such Stock Unit has become Service-Based Vested and that the Liquidity Event Vesting has occurred before the Expiration Date. Vesting As of the Date of Award, none of the Stock Units subject to this Agreement are Vested Stock Units. Participant will receive a benefit with respect to this Award only to the extent that Stock Units become Vested Stock Units. For any Stock Unit to become a Vested Stock Unit, two separate vesting conditions must each be satisfied before the Expiration Date. Accordingly, in order for a Stock Unit to become a Vested Stock Unit, one vesting condition is that it becomes “Service-Based Vested” (as described below) and the other vesting condition is the timely occurrence of the Liquidity Event Vesting. For avoidance of doubt, Participant will have no rights with respect to this Award to the extent the Liquidity Event Vesting condition is not satisfied (regardless of the extent to which Stock Units were Service-Based Vested). All Stock Units that are not Vested Stock Units as of the Expiration Date shall be then forfeited without consideration. Stock Units which are Service-Based Vested shall remain outstanding until the earlier of their settlement or the Expiration Date. Service-Based Vested Requirement: The Service-Based Vested requirements will be satisfied in installments as to this Award as follows: As long as Participant renders continuous Service, Participant will become incrementally Service-Based Vested as to 25% of the total number of Stock Units awarded, as shown above on the cover sheet, on the first anniversary of the Vesting Calculation Date and thereafter 1/48th of the total number of Stock Units awarded shall become incrementally Service-Based Vested on each monthly anniversary of the first anniversary of the Vesting Calculation Date until the Service-Based Vested requirement is fully satisfied on the fourth anniversary of the Vesting Calculation Date. No unvested Stock Units can become Service-Based Vested after Participant’s Service has terminated and any Stock Units that are not Service-Based Vested shall be forfeited without consideration on the Participant’s Termination Date. In all cases, the resulting aggregate number of Service-Based Vested Stock Units will be rounded down to the nearest whole number.
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Vested Stock Unit means a Stock Unit that has become nonforfeitable pursuant to Section 3.
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Examples of Vested Stock Unit in a sentence

  • The Restricted Stock Units which have become vested pursuant to the Vesting Schedule are herein referred to as the “Vested Stock Units.” Each Vested Stock Unit represents the Company’s unsecured obligation to issue one share of Common Stock.

  • Each Vested Stock Unit represents the Company’s unsecured obligation to issue one share of the Company’s common stock (“Common Stock”).

  • If cash is utilized in settling the Vested Stock Units, the Fair Market Value of a Share (determined as of the Settlement Time) shall be used to determine the value of each Vested Stock Unit.

  • Other Terms and Conditions Are set forth in the accompanying Performance Vested Stock Unit Grant Terms and Conditions and the Plan.

  • To the extent a Stock Unit becomes a Vested Stock Unit and subject to your satisfaction of any tax withholding obligations as discussed below, each Vested Stock Unit will entitle you to receive one Share which will be distributed to you on the applicable vesting date as set forth in this Agreement.

  • Any Restricted Stock Units that become Vested Stock Units on a Vesting Date in accordance with Section 1 shall be paid promptly upon (but not more than thirty (30) days after) the applicable Vesting Date by delivery of one share of Common Stock for each such Vested Stock Unit being paid as of such date, subject to the terms and conditions of this Award Agreement.

  • Subject to the provisions of Section 7.3 below, the Company shall issue to the Participant on the Settlement Date with respect to each Vested Stock Unit one (1) share of Stock or, at the Committee’s discretion, pay to the Participant a sum of cash equal to the Fair Market Value of one (1) share of Stock.

  • Unit becomes a Vested Stock Unit and subject to Participant’s satisfaction of any tax withholding obligations as discussed below, each Vested Stock Unit will entitle Participant to receive one Share (or cash equivalent) at the Settlement Time.

  • Each Vested Stock Unit represents the Company’s unsecured obligation to issue one share of the Company’s common stock (“Common Stock”) and related Dividend Equivalents (as defined below) in accordance with this Agreement.

  • In exchange for the cancellation of each Company Stock Unit Award, each holder of a Company Stock Unit Award as of the Effective Time shall be entitled to the Merger Consideration with respect to each share of Company Common Stock subject to the Vested Stock Unit Award.

Related to Vested Stock Unit

  • Restricted Stock Unit Award means a right to receive shares of Common Stock which is granted pursuant to the terms and conditions of Section 6(b).

  • Phantom Stock Unit means the right to receive the value of one (1) share of the Company’s Common Stock, subject to the provisions of Section 8.4 of the Plan.

  • Restricted Stock Unit means a bookkeeping entry representing an amount equal to the Fair Market Value of one Share, granted pursuant to Section 8. Each Restricted Stock Unit represents an unfunded and unsecured obligation of the Company.

  • Deferred Stock Unit means a right granted to a Participant under Article 9 to receive Shares (or the equivalent value in cash or other property if the Committee so provides) at a future time as determined by the Committee, or as determined by the Participant within guidelines established by the Committee in the case of voluntary deferral elections.

  • Phantom Stock Award means an Award granted under Paragraph X of the Plan.

  • Performance Stock Unit means a right granted to a Participant pursuant to Section 8.2, to receive Stock, the payment of which is contingent upon achieving certain Performance Goals or other performance-based targets established by the Committee.

  • Stock Unit Award means a right to receive shares of Common Stock which is granted pursuant to the terms and conditions of Section 7(c).

  • Restricted Stock Units means an Award of stock units subject to such restrictions and conditions as the Administrator may determine at the time of grant.

  • Restricted Share Unit Award means a right to receive Ordinary Shares which is granted pursuant to the terms and conditions of Section 6(b).

  • Restricted Stock Unit Award Agreement means a written agreement between the Company and a holder of a Restricted Stock Unit Award evidencing the terms and conditions of a Restricted Stock Unit Award grant. Each Restricted Stock Unit Award Agreement will be subject to the terms and conditions of the Plan.

  • Stock Unit means a bookkeeping entry representing the equivalent of one Common Share, as awarded under the Plan.

  • Share Unit means a unit credited by means of an entry on the books of the Corporation to a Participant pursuant to the Plan, representing the right to receive, subject to and in accordance with the Plan, for each Vested Share Unit one Share, at the time, in the manner, and subject to the terms, set forth in the Plan and the applicable Grant Agreement;

  • Deferred Stock Units means the number of hypothetical Shares subject to an Election.

  • Restricted Stock Unit Agreement means the agreement consistent with the terms of the Plan between the Company and the recipient of a Restricted Stock Unit that contains the terms, conditions and restrictions pertaining to such Restricted Stock Unit.

  • Performance Stock Award means a Stock Award granted under the terms and conditions of Section 6(c)(i).

  • Performance Share Unit or “PSU” means a unit equivalent in value to a Share, credited by means of a bookkeeping entry in the books of the Corporation in accordance with Article 6;

  • Restricted Stock Grant means Shares awarded under the Plan as provided in Section 9.

  • Deferred Share Unit or “DSU” means a unit equivalent in value to a Share, credited by means of a bookkeeping entry in the books of the Corporation in accordance with Article 7;

  • Company Restricted Stock Unit means any restricted stock unit award subject to service-based vesting, payable in shares of Company Common Stock or the value of which is determined with reference to the value of shares of Company Common Stock, whether granted under a Company Stock Plan or otherwise.

  • Plan Share Award or "Award" means a right granted to a Participant under this Plan to earn or to receive Plan Shares.

  • Deferred Stock Award means Awards granted pursuant to Section 8.

  • RSU means a restricted stock unit granted under the Plan, which represents an unfunded and unsecured promise to deliver shares of Common Stock in accordance with the terms of the RSU Award Agreement.

  • Other Stock Unit Award means any right granted to a Participant by the Committee pursuant to Section 10 hereof.

  • Performance Share Award means an Award entitling the recipient to acquire shares of Stock upon the attainment of specified Performance Goals.

  • Restricted Stock Award means an award of shares of Common Stock which is granted pursuant to the terms and conditions of Section 6(a).

  • Phantom Stock Award Agreement means a written agreement between the Company and a Holder with respect to a Phantom Stock Award.