Annual Equity Grant means the grant made to Non-Employee Directors each year as provided in Section 4.2.
Annual Equity Grant shall have the meaning ascribed to in Section 4(c) hereof.
Annual Equity Grant. For 2014, you will be granted a combination of time-based stock options, performance-contingent restricted stock units and cash-settled performance shares with an aggregate target value of 1.5 times your base salary, subject to terms and conditions established by the Committee. Commencing in 2015, you will be eligible to participate in RM’s LTIP and to receive equity and/or equity-based awards under the Stock Plan in the sole discretion of the Board of Directors or the Committee. All equity awards will be subject to and governed by the provisions of the Stock Plan and related award agreements.”
Examples of Annual Equity Grant in a sentence
One-half of the Annual Equity Grant is expected to be in the form of restricted stock units or restricted share units with no performance restrictions or metrics associated with them, and which are expected to vest in three equal increments on each of the first, second and third anniversaries of the grant date.
The other one-half of the Annual Equity Grant is expected to be in the form of performance shares or performance restricted stock units, which will have Board-determined performance restrictions and metrics associated with them.
Notwithstanding any other provision of this Agreement to the contrary, the determination of whether and when to make any Annual Equity Grant to Employee, and the design, nature and amount of any such Annual Equity Grant, shall be determined by the Board in its discretion.
Fifty percent (50%) of each Annual Equity Grant shall vest on an annual basis ratably over four (4) years and fifty percent (50%) of each Annual Equity Grant shall vest based on performance criteria determined by mutual agreement between Executive and the Compensation Committee.
The number of shares of Common Stock subject to such RSUs and PBRSUs shall be determined by dividing the applicable amount of the Annual Equity Grant by the average closing price of Common Stock on the New York Stock Exchange for the five (5) consecutive trading days immediately preceding each January 1.
More Definitions of Annual Equity Grant
Annual Equity Grant. $1,155,000 (175% of base salary) Annual Compensation Target: $2,475,000 Start Date: September 22, 2022 Executive Bonus Plan: You will continue to be eligible to participate in our executive bonus plan. Annual Equity Grant: You will be eligible for an annual equity award of 175% of base salary. The award is currently comprised of restricted share units (50%) and performance share units (50%). Annual equity grants are typically granted in February and actual award values and equity components are subject to the approval of the Compensation Committee.
Annual Equity Grant. Vishay granted Executive on March 18, 2010, 39,000 time-vested restricted stock units (“RSUs”) and 118,000 performance-based restricted stock units (“PBRSUs”), under the Vishay Intertechnology 2007 Stock Incentive Program (the “Stock Incentive Program”). Vishay Europe warrants that commencing on January 1, 2011 and on each January 1 thereafter during the Term, Vishay shall grant Executive an annual equity award under the Stock Incentive Program (or any successor plan or arrangement thereof) having a value approximately equal to 150% of Executive’s Base Salary on such date. Twenty-five percent of each such grant shall be in the form of RSUs, and 75% shall be in the form of PBRSUs. The fair market value of Common Stock as of January 1 of a year for purposes of determining the number of RSUs and PBRSUs to be granted on such date shall be equal to the closing price of such stock on the New York Stock Exchange on the trading day immediately preceding such January 1. Subject to Executive’s continued employment with Vishay Europe, the RSUs and PBRSUs shall vest on January 1 of the third year following their grant, provided that, in the case of the PBRSUs, only to the extent the performance criteria applicable to the PBRSUs are realized. In the event of the termination of Executive’s employment with Vishay Europe by Vishay Europe without Cause, by Executive for Good Reason, for any reason other than Cause after Executive attains age 62, or as a result of his death or Disability, the outstanding RSUs granted pursuant to this Section 4.5 shall immediately vest and the outstanding PBRSUs granted pursuant to this Section 4.5 shall vest on their normal vesting date to the extent the applicable performance criteria are realized. In the event of a Change in Control (as defined in the Stock Incentive Program), all of such outstanding RSUs and PBRSUs shall immediately vest.
Annual Equity Grant means the annual grant of Restricted Stock Units made to the Directors during each Plan Year pursuant to the Equity Incentive Plan. For the avoidance of doubt, the term “Annual Equity Grant” does not include the initial grant of Restricted Stock Units made to new Directors.
Annual Equity Grant. Subject to actual grant by the Compensation Committee and the terms and conditions of the Company’s 2021 Equity Incentive Plan and the individual award agreement between Company and Director, and further subject to Director’s ongoing service with the Company’s Board of Directors, on the date of each Company Annual Meeting of Shareholders or the first available date immediately following such Annual Meeting of Shareholders, Company will grant Director Options and RSUs with a combined value of $185,000; the number of Options shall be as determined using the Black Scholes formula (the “Annual Equity Grant”). The Annual Equity Grant shall be comprised of the following: Equity Type Percentage Number of Options/RSUs Options 50% Based on Black Scholes Formula on date of grant or date prior to the date of grant RSUs 50% Based on closing price of Common stock on trading date immediately preceding date of grant Annual Equity Grant Options and RSUs will vest in full on the one-year anniversary of the grant date, subject to Director’s ongoing service. The Options are exercisable for five years from the first anniversary of the grant. Provided further, that the Annual Equity Grant Options and RSUs shall be subject to change in control accelerated vesting pursuant to the terms and conditions set forth in the award agreement. DocuSign Envelope ID: 5355FCC4-8252-4ABF-9403-FEC94E16B3E9 DocuSign Envelope ID: 5355FCC4-8252-4ABF-9403-FEC94E16B3E9
Annual Equity Grant. For each calendar year of the Term, you shall receive an “Annual Equity Grant” in the form of Company Long Term Incentive Plan (LTIP) units, having a target grant date value equal to $6,000,000 per year. Each annual grant shall be made at the same time (which is expected to occur in the first calendar quarter of the given year), shall be allocated in the same proportion, and shall vest on the same terms, as annual equity grants made to all other executive officers of the Company, as determined by the Compensation Committee of the Board of Directors. Notwithstanding the foregoing, the remaining terms of this agreement, or anything to the contrary in any applicable equity award agreement provided to you (both performance-based and service-based LTIP award agreements), including but not limited to the provisions of Section 5 of such equity award agreements, all LTIP grants to you under such agreements shall vest upon your termination by the Company for no reason or for any reason other than Cause (as defined in Annex A hereto), termination of your employment by you for Good Reason (as defined in Annex A hereto), your death, or Disability (as defined in Annex A hereto), on terms no less favorable than those contained in your 2018 LTIP Unit Award Agreements. Xxxxxx X’Xxxx Employment Agreement Renewal June 8, 2021
Annual Equity Grant. You will be eligible for an annual equity award as outlined above. Annual equity grants are typically granted in February (for employees hired before December 31) and actual award values and equity components are subject to the approval of the Board and the applicable plan documents.
Annual Equity Grant means the equity award of a number of restricted stock units having a specified dollar value granted by the Company to Directors on an annual basis as part of their annual compensation for serving as a Director, such number of restricted stock units being determined by dividing the closing price of IDEXX Stock on the grant date by the specified dollar value.