Fractional Share Clause Examples
A Fractional Share clause defines the treatment and rights associated with ownership of less than one whole share of a security or asset. In practice, this clause outlines how fractional shares may be created, such as through stock splits, dividend reinvestment plans, or mergers, and specifies whether holders of fractional shares are entitled to dividends, voting rights, or cash payments in lieu of full shares. The core function of this clause is to ensure clarity and fairness in handling partial share interests, preventing disputes and administrative confusion when transactions result in non-whole shareholdings.
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Fractional Share. The Company shall not be required to issue any fractional share upon exercise of the Option, but it shall pay to the Optionee or to his or her personal representative or beneficiary who acquires the right to exercise the Option by bequest or inheritance on the death of the Optionee, the cash equivalent of any fractional share interests, as determined in the sole discretion of the Board or the Committee.
Fractional Share. A fractional share shall not be issuable hereunder, and when any provision hereof may entitle the Participant to a fractional share, such fraction shall (unless the Administrator determines otherwise) be disregarded.
Fractional Share. No fractional shares of Common Stock shall be issued to any Warrantholder in connection with the exercise of this Warrant. Instead of any fractional shares of Common Stock that would otherwise be issuable to such Warrantholder, the Company will pay to such Warrantholder a cash adjustment in respect of such fractional interest in an amount equal to that fractional interest of the then current fair market value per share of Common Stock (based on the Closing Sale Price).
Fractional Share. No fractional share shall be issuable upon exercise or conversion of this Warrant and the number of shares to be issued shall be rounded down to the nearest whole share. If the exercise or conversion of this Warrant shall result in the issuance of any fractional share, the Company shall eliminate such fractional share by paying the Holder an amount computed by multiplying such fraction by the fair market value of a full share.
Fractional Share. Series A Shares may be issued by fractions of a share which shall entitle the holder, in proportion to such holder's fractional shares, to exercise voting rights, receive dividends, participate in distributions and to have the benefit of all other rights of holders of Series A Shares.
Fractional Share. The Participant may become vested and have a nonforfeitable right under the 2014 Stock Award and/or the 2015 Stock Award only to whole shares of Class A Common Stock. If the terms of the 2014 Stock Award and/or the 2015 Stock Award would entitle the Participant to become vested or have a nonforfeitable right in a fractional share of Class A Common Stock, such fractional share shall be disregarded or forfeited.
Fractional Share. No fractional shares of stock will be issued in connection with any exercise hereunder, but in lieu of such fractional shares the Company shall make a cash payment therefor upon the basis of the then fair market value of the stock to be issued upon the exercise hereof.
Fractional Share. Since the Consideration to be paid in the Transaction will be in cash, the Parties agree that this Agreement does not provide the procedure for dealing with fractional shares to be issued to the shareholders of HMI.
Fractional Share. No fraction of a Jabil Share will be issued by virtue of the Merger, but in lieu thereof each holder of GET Shares who would otherwise be entitled to a fraction of a Jabil Share (after aggregating all fractional Jabil Shares to be received by such holder) will receive from Jabil an amount of cash (rounded to the nearest whole cent) equal to the product of (a) such fractional share, multiplied by (b) the Jabil Stock Price.
Fractional Share. The Company will not issue a fractional share of Common Stock upon conversion of a Note. Instead, the Company shall pay Cash in lieu of fractional shares based on the Closing Price of Common Stock on the Trading Day prior to the applicable Conversion Date (if the Company delivers solely shares of Common Stock to satisfy the Conversion Obligation, other than Cash in lieu of fractional shares) or the Closing Price of the Common Stock on the last Trading Day of the relevant Observation Period (if the Company delivers Cash to satisfy a portion, but less than all, of the Conversion Obligation, other than solely Cash in lieu of any fractional shares, or if the Company has made a Net Share Settlement Election ).