Cash Dividends. If the Company declares and pays a dividend or distribution on shares of Stock in the form of cash, then additional Performance-Based Restricted Stock Units shall be credited to Employee as of the payment date of such cash dividend or distribution (or settled as of the payment date of such cash dividend or distribution if the Performance-Based Restricted Stock Units are to be settled before the payment date) equal to the number of outstanding Performance-Based Restricted Stock Units as of the relevant record date multiplied by the amount of cash paid per share of Stock in such dividend or distribution divided by the Fair Market Value of a share of Stock at the payment date for such dividend or distribution (rounded down to the nearest whole share).
Appears in 7 contracts
Samples: Restricted Stock Units Agreement (New Jersey Resources Corp), Restricted Stock Units Agreement (New Jersey Resources Corp), Restricted Stock Units Agreement (New Jersey Resources Corp)
Cash Dividends. If the Company declares and pays a dividend or distribution on shares of Stock in the form of cash, then additional Performance-Based Restricted Stock Units shall be credited to Employee Employee’s Account as of the payment date of such cash dividend or distribution (or settled as of the payment date of such cash dividend or distribution if the Performance-Based Restricted Stock Units are to be settled before the payment date) equal to the number of outstanding Performance-Based Restricted Stock Units credited to the Account as of the relevant record date of such dividend or distribution multiplied by the amount of cash paid per share of Stock in such dividend or distribution divided by the Fair Market Value of a share of Stock at the payment date for such dividend or distribution (rounded down to the nearest whole share)distribution.
Appears in 5 contracts
Samples: Restricted Stock Units Agreement (New Jersey Resources Corp), Restricted Stock Units Agreement (New Jersey Resources Corp), Restricted Stock Units Agreement (New Jersey Resources Corp)
Cash Dividends. If the Company declares and pays a dividend or distribution on shares of Stock in the form of cash, then additional Performance-Based Restricted Stock Units shall be credited to Employee Employee’s Account as of the payment date of such cash dividend or 40324839v2 distribution (or settled as of the payment date of such cash dividend or distribution if the Performance-Based Restricted Stock Units are to be settled before the payment date) equal to the number of outstanding Performance-Based Restricted Stock Units credited to the Account as of the relevant record date of such dividend or distribution multiplied by the amount of cash paid per share of Stock in such dividend or distribution divided by the Fair Market Value of a share of Stock at the payment date for such dividend or distribution (rounded down to the nearest whole share)distribution.
Appears in 1 contract
Samples: Restricted Stock Units Agreement (New Jersey Resources Corp)