Share Tender Method Sample Clauses

Share Tender Method. Under the Share Tender Method, you pay the Option Exercise Price by using unrestricted shares of Delta common stock (i) that you have owned for at least six months; and (ii) that have a Fair Market Value on the date of your Stock Option exercise equal to the Option Exercise Price. Under this method, you do not make a physical delivery of your previously owned shares of Delta common stock, but instead use a process called "attestation." Attestation does not involve any physical movement of stock certificates. Rather, you provide to Delta on the appropriate form the stock certificate number for the attested shares if you hold the shares in your own name, or the name and number of your account if your broker or bank holds the attested shares on your behalf. This information allows verification (i) that you own the shares being attested; (ii) that the shares are unrestricted; and (iii) that you have owned the shares for at least six months. Providing incorrect information may result in disqualification of the Stock Option exercise and/or disciplinary action. Under the Share Tender Method, Delta will deduct from the shares you acquired from your Stock Option exercise the number of (i) attested shares used to pay the Option Exercise Price; and (ii) the shares necessary to satisfy tax withholding requirements. You will receive the net number of shares. Please note that you may not exercise your Stock Options by attesting shares that you have attested during the previous six months.