Common use of Share Dividends and Splits Clause in Contracts

Share Dividends and Splits. If the Company declares and pays a dividend or distribution on shares of Stock in the form of additional shares of Stock, or there occurs a forward split of shares of Stock, then a number of additional Performance Share Units shall be credited to Employee’s Account as of the payment date for such dividend or distribution or forward split (or settled as of the payment date for such dividend or distribution or forward split if the Performance Share Units are to be settled before the payment date) equal to the number of Performance Share Units credited to the Account as of the record date for such dividend or distribution or split multiplied by the number of additional shares of Stock actually paid as a dividend or distribution or issued in such split in respect of each outstanding share of Stock.

Appears in 14 contracts

Samples: Performance Share Units Agreement (New Jersey Resources Corp), New Jersey Resources (New Jersey Resources Corp), Performance Share Units Agreement (New Jersey Resources Corp)

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Share Dividends and Splits. If the Company declares and pays a dividend or distribution on shares of Stock in the form of additional shares of Stock, or there occurs a forward split of shares of Stock, then a number of additional Performance Share Restricted Stock Units shall be credited to Employee’s Account as of the payment date for such dividend or distribution or forward split (or settled as of the payment date for such dividend or distribution or forward split if the Performance Share Restricted Stock Units are to be settled before the payment date) equal to the number of Performance Share Restricted Stock Units credited to the Account as of the record date for such dividend or distribution or split multiplied by the number of additional shares of Stock actually paid as a dividend or distribution or issued in such split in respect of each outstanding share of Stock.

Appears in 6 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)

Share Dividends and Splits. If the Company declares and pays a dividend or distribution on shares of Stock in the form of additional shares of Stock, or there occurs a forward split of shares of Stock, then a number of additional Performance Share Units shares of Deferred Stock shall be credited to Employee’s Account as of the payment date for such dividend or distribution or forward split (or settled as of the payment date for such dividend or distribution or forward split if the Performance Share Units are Deferred Stock is to be settled before the payment date) equal to the number of Performance Share Units shares of Deferred Stock credited to the Account as of the record date for such dividend or distribution or split multiplied by the number of additional shares of Stock actually paid as a dividend or distribution or issued in such split in respect of each outstanding share of Stock.

Appears in 3 contracts

Samples: New Jersey Resources Corporation (New Jersey Resources Corp), New Jersey Resources (New Jersey Resources Corp), New Jersey Resources (New Jersey Resources Corp)

Share Dividends and Splits. If the Company declares and pays a dividend or distribution on shares of Stock in the form of additional shares of Stock, or there occurs a forward split of shares of Stock, then a number of additional Performance Share Units shares of Performance-Based Restricted Stock shall be credited to Employee’s Account Employee as of the payment date for such dividend or distribution or forward split (or settled as of the payment date for such dividend or distribution or forward split if the Performance Share Units are to be settled before the payment date) equal to the number of Performance Share Units shares of Performance-Based Restricted Stock credited to the Account Employee as of the record date for such dividend or distribution or split multiplied by the number of additional shares of Stock actually paid as a dividend or distribution or issued in such split in respect of each outstanding share of Stock.Stock (rounded down to the nearest whole share)

Appears in 2 contracts

Samples: Performance Based Restricted Stock Agreement (New Jersey Resources Corp), Restricted Stock Agreement (New Jersey Resources Corp)

Share Dividends and Splits. If the Company declares and pays a dividend or distribution on shares of Stock in the form of additional shares of Stock, or there occurs a forward split of shares of Stock, then a number of additional Performance Share shares of Performance-Based Restricted Stock Units shall be credited to Employee’s Account Employee as of the payment date for such dividend or distribution or forward split (or settled as of the payment date for such dividend or distribution or forward split if the Performance Share Units are to be settled before the payment date) equal to the number of Performance Share shares of Performance-Based Restricted Stock Units credited to the Account Employee as of the record date for such dividend or distribution or split multiplied by the number of additional shares of Stock actually paid as a dividend or distribution or issued in such split in respect of each outstanding share of Stock.Stock (rounded down to the nearest whole share)

Appears in 1 contract

Samples: Restricted Stock Units Agreement (New Jersey Resources Corp)

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Share Dividends and Splits. If the Company declares and pays a dividend or distribution on shares of Stock in the form of additional shares of Stock, or there occurs a forward split of shares of Stock, then a number of additional Performance Share Restricted Stock Units shall be credited to EmployeeDirector’s Account as of the payment date for such dividend or distribution or forward split (or settled as of the payment date for such dividend or distribution or forward split if the Performance Share Restricted Stock Units are to be settled before the payment date) equal to the number of Performance Share Restricted Stock Units credited to the Account as of the record date for such dividend or distribution or split multiplied by the number of additional shares of Stock actually paid as a dividend or distribution or issued in such split in respect of each outstanding share of Stock.

Appears in 1 contract

Samples: New Jersey Resources Corporation (New Jersey Resources Corp)

Share Dividends and Splits. If the Company declares and pays a dividend or distribution on shares of Stock in the form of additional shares of Stock, or there occurs a forward split of shares of Stock, then a number of additional Performance Share Units shares of Performance-Based Restricted Stock shall be credited to Employee’s Account Employee as of the payment date for such dividend or distribution or forward split (or settled as of the payment date for such dividend or distribution or forward split if the Performance Share Units are to be settled before the payment date) equal to the number of Performance Share Units shares of Performance-Based Restricted Stock credited to the Account Employee as of the record date for such dividend or distribution or split multiplied by the number of additional shares of Stock actually paid as a dividend or distribution or issued in such split in respect of each outstanding share of StockStock (rounded down to the nearest whole share).

Appears in 1 contract

Samples: New Jersey Resources Corporation (New Jersey Resources Corp)

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