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 (A) 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 average closing price of a share of such company’s common stock for the 30 days of December 2 to December 31 at the end of the Performance Period and the average closing price of such shares for the 30 days of December 2 to December 31 immediately prior to the beginning of the Performance Period (appropriately adjusted for any stock dividend, stock split, spin-off, merger or other similar corporate events), by (B) the average closing price of a share of such company’s common stock for the 30 days of December 2 to December 31 immediately prior to the beginning of the Performance Period.

Appears in 3 contracts

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

AutoNDA by SimpleDocs

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 (A) 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 average closing price of a share of such company’s 's common stock for the 30 days of December 2 to December 31 at the end of the Performance Period and the average closing price of such shares for the 30 days of December 2 to December 31 immediately prior to the beginning of the Performance Period (appropriately adjusted for any stock dividend, stock split, spin-off, merger or other similar corporate events), by (B) the average closing price of a share of such company’s 's common stock for the 30 days of December 2 to December 31 immediately prior to the beginning of the Performance Period.

Appears in 2 contracts

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

AutoNDA by SimpleDocs

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 (A) 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 average closing price of a share of such company’s common stock for the 30 15 trading days of December 2 to ending December 31 at the end of the Performance Period and the average closing price of such shares for the 30 15 trading days of December 2 to ending December 31 immediately prior to the beginning of the Performance Period (appropriately adjusted for any stock dividend, stock split, spin-off, merger or other similar corporate events), by (B) the average closing price of a share of such company’s common stock for the 30 15 trading days of December 2 to ending December 31 immediately prior to the beginning of the Performance Period.

Appears in 1 contract

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

Time is Money Join Law Insider Premium to draft better contracts faster.