Performance Share Unit Clause Samples
A Performance Share Unit (PSU) clause defines the terms under which an employee or executive is granted the right to receive company shares based on the achievement of specific performance goals. Typically, these units are awarded as part of a long-term incentive plan and vest only if certain financial or operational targets are met within a set timeframe. This clause ensures that equity compensation is directly tied to measurable company performance, aligning the interests of employees with those of shareholders and motivating recipients to achieve key business objectives.
Performance Share Unit. Performance Share Unit shall mean a nonvoting unit of measurement which is deemed for bookkeeping purposes to be the equivalent to one outstanding share of Common Stock (a “Share”) solely for purposes of the Plan and this Agreement. The Performance Share Units shall be used solely as a device for the determination of the payment to be made to Executive if such Performance Share Units become payable pursuant to section 2.2 below. The Performance Share Units shall not be treated as property or as a trust fund of any kind. Each Performance Share Unit granted hereunder is intended to qualify as a Performance Share expressed in terms of Common Stock, as authorized under Section 12 of the Plan.
Performance Share Unit. The term “Performance Share Unit” means a performance-based Restricted Stock Unit granted pursuant to Section 11 of the Plan.
Performance Share Unit. “Performance Share Unit” means a long-term incentive award representing the right to receive a Restricted Stock Unit or, in certain instances expressly set forth in this Agreement, a Common Share, as described in and subject to the terms of this Agreement and the Plan.
Performance Share Unit. “Performance Share Unit” means the right to receive one share of common stock of the Company, par value $0.01 per share (“Common Shares”) subject to the terms of this Agreement.
Performance Share Unit. Employee was granted (i) 20,718 target Performance Share Units (“PSUs”) pursuant to the 2023 PSU ROA Agreement; (ii) 20,718 target PSUs pursuant to the 2023 PSU Adjusted FCF Agreement (such PSUs that remain outstanding, in each case shall be referred to herein as the “Subject PSUs”). All of the Subject PSUs remain outstanding and unvested on the Separation Date. In addition to the Subject PSUs, Employee was granted, (iii) 17,626 target PSUs pursuant to the 2024 PSU Absolute TSR Agreement (the “2024 Absolute TSR PSUs”) and 17,626 target PSUs pursuant to the 2024 PSU ROA Agreement (the “2024 ROA PSUs” and together with the 2024 Absolute TSR PSUs, the “2024 PSUs”); (iv) 23,202 target PSUs pursuant to the 2025 PSU Agreement (the “2025 PSUs”). All of the 2024 PSUs and the 2025 PSUs remain outstanding and unvested on the Separation Date. In consideration for Employee’s entry into (and non-revocation in the time provided to do so) this Agreement and abiding by the terms herein, as of the Separation Date, (A) the service requirement applicable to the Subject PSUs shall be deemed satisfied and the Subject PSUs shall remain outstanding and eligible to vest and settle, subject to the satisfaction of the applicable performance goals, in accordance with the original vesting schedules set forth in the applicable Award Agreements; (B) the service requirement applicable to 9,054 of the 2024 Absolute TSR PSUs shall be deemed satisfied and such PSUs shall remain outstanding and eligible to vest and settle, subject to the satisfaction of the applicable performance goals, in accordance with the original vesting schedule set forth in the 2024 PSU Absolute TSR Agreement; (C) the service requirement applicable to 9,054 of the 2024 ROA PSUs shall be deemed satisfied and such PSUs shall remain outstanding and eligible to vest and settle, subject to the satisfaction of the applicable performance goals, in accordance with the original vesting schedule set forth in the 2024 PSU ROA Agreement and (D) the service requirement applicable to 4,174 of the 2025 PSUs shall be deemed satisfied and such PSUs shall remain outstanding and eligible to vest and settle, subject to the satisfaction of the applicable performance goals, in accordance with the original vesting schedule set forth in the 2025 PSU Agreement. If Employee fails to abide by any of Employee’s obligations under this Agreement, the portion of the Subject PSUs, 2024 PSUs, and 2025 PSUs that remains outstanding and unvested as of...