Common use of Beginning Stock Price Clause in Contracts

Beginning Stock Price. The beginning and ending stock prices in the above formula for TSR will be calculated using a trailing average approach (i.e., average of the closing stock prices for 20 consecutive trading days prior to the beginning and end of the Performance Period). The above TSR formula assumes that dividends are paid and reinvested into additional shares of common stock on their ex-dividend dates. TSR will be adjusted for stock dividends, stock splits, spin-offs and other corporate changes having a similar effect. The percentile performance for determining the TSR Percentile Rank will be measured using the Microsoft Excel function PERCENTRANK.