Annual Equity Awards definition
Annual Equity Awards. You will be eligible to receive annual equity awards granted by the Company during your employment with the Employer. It is expected that your annual equity awards for the Company’s fiscal year 2025 will have a target aggregate grant date fair value of $800,000. Any equity awards actually granted to you by the Company are subject to approval by the Compensation Committee. The form, terms and conditions of your annual equity awards will be determined by the Compensation Committee and set forth in the applicable award agreement.
Annual Equity Awards has the meaning set forth in Section 4.11(a).
Annual Equity Awards. On the first business day of 2007, 2008 and 2009, provided that you are then employed with the Company, you will be granted an award of 60,000 Audible stock options and 20,000 restricted stock units under Audible’s Stock Incentive Plan. The stock options will have an exercise price per share equal to the closing market price on the date of grant. The stock option and restricted stock unit awards will be subject to the terms and conditions of our standard stock option and restricted stock unit agreements, and the stock options will be incentive stock options to the fullest extent permitted by law. The stock option and restricted stock unit awards will vest semi-annually over three years from the date of grant provided that you remain employed with us continuously through such vesting date. The Company will, unless you request otherwise and make sufficient arrangements for the required payment of taxes, withhold from the shares otherwise deliverable under the units on each vesting date a number of shares having a fair market value sufficient in amount to satisfy your tax liabilities that arise from such vesting, up to the statutory minimum withholding amount required by law. Accelerated Vesting: Our stock option and restricted stock unit agreements provide for automatic vesting of 50% of unvested options and units in the event of a sale or merger of the company resulting in a qualified “Change of Control” (as defined therein) prior to full vesting. They also provide that, at the time of the transaction, additional accelerated vesting can be approved by the Board.
Examples of Annual Equity Awards in a sentence
The Annual Equity Awards may be granted in the form of stock options, restricted stock units (“RSUs”), performance-based RSUs (“PSUs”) or any other form award permitted by the Plan, as determined by the Board in its discretion in consultation with Executive, and will be subject to the terms and conditions, including performance as applicable, as set forth in the applicable award agreement provided by the Company.
More Definitions of Annual Equity Awards
Annual Equity Awards. CLIENT shall request that, at the first regularly scheduled meeting Docusign Envelope ID: FAC70A46-9984-449C-99E8-34C271286D10
(A) The number of Shares subject to the Annual Equity Award shall be determined by dividing Five Hundred Thousand and 00/100 Dollars ($500,000.00) by the closing price (in regular trading) of a share of STARZ on the Nasdaq on the Annual Award Date.
(B) Each Annual Equity Award shall be eligible to vest as to one-third of the shares subject to the applicable award on each of the first, second and third anniversaries of the applicable Annual Award Date (each, a “Performance Vesting Date”). The vesting of the Annual Equity Award on each respective Performance Vesting Date shall be subject to a financial structuring performance metrics/criteria target, which shall be determined by the CEO or CLIENT’s designee, on each respective Annual Award Date. Determination of the vesting of each Annual Performance-Based Grant on each respective Performance Vesting Date, if any, shall be made by the CEO or CLIENT’s designee. Any portion of any such award that is eligible to vest on a particular Performance Vesting Date and does not vest on that date shall expire on that date with no possibility of further vesting.
(C) If granted, the Annual Equity Awards set forth above shall be granted in accordance with the terms and conditions of the Plan. Each of the Annual Equity Awards, if granted, shall be evidenced by and subject to the terms of an award agreement in the form generally then used by STARZ to evidence grants of the applicable type of award under the Plan.
(D) The vesting schedule in 2.3(B) above requires ADVISOR’s continuous provision of services to CLIENT through each applicable Performance Vesting Date as a condition to the vesting of the applicable installment of the Annual Equity Award and the rights and benefits thereto. ADVISOR’s then-unvested awards will terminate on any termination of ADVISOR’s services to CLIENT, and ADVISOR will have no further rights with respect thereto. Notwithstanding the foregoing, in the event that ADVISOR does not elect to renew this Agreement for one or more subsequent one-year terms, provided ADVISOR completes the full initial one-year term (or extended one-year term, as applicable) of the Agreement and is not in uncured, material breach of this Agreement, ADVISOR shall be entitled to acceleration of the applicable installment of the Annual Equity Award(s) corresponding to the Performance Vesting Date immed...