Common use of Total Shareholder Return Clause in Contracts

Total Shareholder Return. Total Shareholder Return ("TSR") will be compiled for a peer group of companies (the "Target Group") for the Performance Period immediately preceding each Normal Vesting Date. TSR for each such company is measured by dividing the sum of (i) the dividends on the common stock of such company during the Performance Period, assuming dividend reinvestment, and (ii) the difference between the price of a share of such company's common stock at the end and at the beginning of the period (appropriately adjusted for any stock dividend, stock split, spin-off, merger or other similar corporate events) by (iii) the price of a share of such company's common stock at the beginning of the period.

Appears in 3 contracts

Samples: Performance Share Agreement (Valero Energy Corp/Tx), Performance Award Agreement (Valero Energy Corp/Tx), Performance Award Agreement (Valero Energy Corp/Tx)

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Total Shareholder Return. Total Shareholder Return ("TSR") will be compiled for a peer group of companies (the "Target Group") for the Performance Period immediately preceding each Normal Vesting Date. TSR for each such company is measured by dividing the sum of (i) the dividends on the common stock of such company during the Performance Period, assuming dividend reinvestment, and (ii) the difference between the price of a share of such company's ’s common stock at the end and at the beginning of the period (appropriately adjusted for any stock dividend, stock split, spin-off, merger or other similar corporate events) by (iii) the price of a share of such company's ’s common stock at the beginning of the period.

Appears in 3 contracts

Samples: Form of Performance Award Agreement (Valero Energy Corp/Tx), Award Agreement (Valero Energy Corp/Tx), Performance Award Agreement (Valero L P)

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