Vesting Period definition
Examples of Vesting Period in a sentence
Company shall at all times during the Vesting Period reserve and keep available such number of shares of its Common Stock as will be sufficient to satisfy the Award issued and granted to Grantee and the terms stated in this Agreement.
During the Vesting Period, before payment or forfeiture of the Award, the Award will be increased by a number of additional Performance Units (“Dividend Equivalents”) representing all cash dividends that would have been paid to Grantee if one share of Common Stock had been issued to Grantee on the Grant Date for each Performance Unit granted pursuant to this Agreement.
The Dividend Equivalents credited during the Vesting Period will include fractional shares; provided, however, the shares of Common Stock actually issued upon vesting of the Dividend Equivalents shall be paid only in whole shares of Common Stock, and any fractional shares of Common Stock in an amount of cash equal to the Fair Market Value of such fractional shares of Common Stock shall be withheld to satisfy any withholding tax obligation.
Subject to (i) Grantee’s continued employment with Company and its Subsidiaries during the Vesting Period and (ii) the terms of this Agreement, Grantee shall vest on the Vesting Date in the number of Performance Units, if any, calculated based on the level of attainment of the Performance Goals described in Section 2(b), except as provided in Sections 2(d), 2(e), or 2(f), as applicable.