Performance-Based Grant Sample Clauses
A Performance-Based Grant clause establishes that the awarding of a grant is contingent upon the recipient meeting specific, measurable performance criteria. Typically, this means that funds are disbursed only after the grantee achieves certain milestones or deliverables, such as reaching project benchmarks or demonstrating quantifiable outcomes. By tying funding to performance, this clause incentivizes recipients to fulfill their obligations and ensures that grantors allocate resources efficiently, ultimately reducing the risk of non-performance and promoting accountability.
Performance-Based Grant. The Company shall grant to Executive a number of performance-based restricted stock units (“PSUs”), valued based on the closing price of the Company’s Shares on the grant date valued at $666,666 which grant shall be subject to the performance conditions and vesting schedule set forth in Schedule A and the applicable form of award agreement.
Performance-Based Grant. An option to purchase 320,139 shares of the Company’s common stock (the “Performance-Based Option”) pursuant and subject to the Plan and the stock option agreement attached hereto as Exhibit B. The Performance Based Option shall be a nonqualified stock option, and will have an exercise price per share equal to the Fair Market Value of a share of common stock of the Company as of the date of grant pursuant to the terms of the Plan.
Performance-Based Grant. The Company will grant the Executive two million five hundred thousand (2,500,000) performance based stock options (the “Performance Stock Options”) entitling the Executive to purchase shares of common stock of the Company, on a cashless basis during the term of employment and as long as Executive is not fired for cause or he terminates employment for reasons of not good cause, (the “Performance Stock Option Shares”). The Executive shall be entitled to any additional annual stock option grants provided at the discretion of the Company’s Board of Directors. The specific terms and conditions of such Performance Stock Options shall be set forth in a separate written Performance Stock Option Agreement, with the principal terms being as follows: The Performance Options shall vest as the Executive meets deadlines and or milestones for the completion of agreed upon deliverables with respect to the Company’s products (the “Deliverables”). The specific terms and conditions of the Deliverables, as mutually agreed upon, shall be set forth in detail in the Performance Stock Option Agreement.
Performance-Based Grant. Subject to approval by the Committee, the Company will grant you performance-based restricted stock units covering 12,250,000 shares of the Company’s Class A Common Stock (the “PSUs”). Such PSUs will vest based on your continuous Employment as the Company’s CEO as well as the extent of achievement of performance goals approved by the Committee. Subject to the approval by the Committee, such performance goals will relate to achievement of specified levels of stock prices of Lyft’s Class A Common Stock. The PSUs will be granted no later than the Start Date.
Performance-Based Grant. Subject to approval by the Committee, the Company will grant you performance-based restricted stock units covering shares of the Company’s Class A Common Stock with a grant date value of approximately $7,200,000 (the awards being “PSUs”). Such PSUs will vest based on your continuous service and the extent to which performance goals approved by the Committee are achieved. Subject to the approval by the Committee, such performance goals will relate to achievement of specified levels of stock prices of Lyft’s Class A Common Stock on terms and conditions substantially similar to the performance-based restricted stock units granted to other members of Lyft’s executive leadership team in April 2023 (excluding the CEO). The number of PSUs will be determined using the Company’s standard methodology approved by the Committee applicable to converting grant date value into a number of PSUs.