Timing and Form of Payment of RSU Award Sample Clauses
The "Timing and Form of Payment of RSU Award" clause defines when and how restricted stock units (RSUs) granted to an employee or recipient will be paid out. Typically, this clause specifies the vesting schedule—such as annual or milestone-based vesting—and whether the payout will be in company shares, cash, or a combination of both. By clearly outlining the payment timeline and method, this clause ensures both parties understand when the recipient will receive the value of their RSUs and in what form, thereby preventing misunderstandings and disputes regarding compensation.
Timing and Form of Payment of RSU Award. Upon vesting, each RSU is converted to one share of Common Stock, free of any restrictions. WM will deliver the shares of Common Stock to you and make payment of the corresponding Dividend Equivalents as soon as administratively feasible (and no later than 74 days) following the Vesting Dates.