Available Shares definition

Available Shares means the sum of (i) one hundred fifty thousand (150,000) shares of Common Stock, and (ii) an annual increase on April 1st of each calendar year, beginning in 2022 and ending in 2031 (each a “Date of Determination”), in each case subject to the approval and determination of the Administrator on or prior to the applicable Date of Determination, equal to the lesser of (A) four percent (4%) of the total shares of Common Stock of the Company outstanding on the last day of the immediately preceding fiscal year and (B) such smaller number of shares as determined by the Administrator (the “Share Limit”). Notwithstanding the foregoing, shares added to the Available Shares by the Share Limit are available for issuance as Incentive Stock Options only to the extent that making such shares available for issuance as Incentive Stock Options would not cause any Incentive Stock Option to cease to qualify as such. In the event that the Administrator shall not take action to affirmatively approve an increase in the Share Limit on or prior to the applicable Date of Determination, the Share Limit and Available Shares, shall remain at such level as they were prior to such applicable Date of Determination. For clarity, the Available Shares is a limitation on the number of shares of Common Stock that may be issued pursuant to the Plan.

Available Shares means, at each time of reference, the total number of Shares described in SECTION 3 with respect to which the Committee may grant an Award, all of which Available Shares shall be held in the Parent's treasury or shall be made available from authorized and unissued Shares.

Available Shares has the meaning set forth in Section 2B.

Examples of Available Shares in a sentence

• All Disposed Shares which shall not be purchased by eligible Shareholders upon their exercise of the foregoing priority right (the "Available Shares") shall be subject to preemption by all existing Shareholders such that they may purchase all the Available Shares.

• In the event several Shareholders wish to exercise their preemptive right for a total number of shares exceeding the number of Available Shares, the Available Shares shall be allocated among such Shareholders in proportion to their respective shareholdings (excluding the shareholdings of any other stockholders).

• In the event that the Founder shall exercise the Founder Purchase Option to purchase only a portion of the Available Shares, the closing of such purchase of the Offered Shares by the Founder shall take place at the offices of the Company on the date of the closing of the of the Offered Shares pursuant to Section 2.5(a) if any of the Offered Shares are sold to the Proposed Purchaser.

• In the event that the Right Holders shall exercise their options to purchase only a portion of the Remaining Shares, the closing of such purchase of the Offered Shares by the Right Holders shall take place at the offices of the Company on the date of the closing of the of the Offered Shares pursuant to either (i) Section 2.4(c) if all of the Available Shares are purchased by the Founder, or (iv) Section 2.5(a) if any of the Offered Shares are sold to the Proposed Purchaser.

• As soon as practicable after the Company has determined that there will be Available Shares, the Company shall give written notice (the “Option Notice”) to the Purchaser setting forth the number of Available Shares and the purchase price for the Available Shares.

More Definitions of Available Shares

Available Shares means the Unsubscribed Shares that any Commitment Party fails to purchase as a result of a Commitment Party Default by such Commitment Party.

Available Shares means the number of Shares Counterparty currently has authorized (but not issued and outstanding) less the maximum number of Shares that may be required to be issued by Counterparty in connection with stock options, convertibles, and other commitments of Counterparty that may require the issuance or delivery of Shares in connection therewith. Dividends:

Available Shares means, with respect to any Fiscal Year or portion thereof, the sum of (a) the number of shares of Common Stock purchased by the Company in the open market or in private transactions or otherwise during such period that have not been previously allocated under the Plan and designated by the Board Committee at the time of purchase as having been purchased for issuance under the Plan with respect to the Fiscal Year or portion thereof specified by the Board Committee and (b) shares of Common Stock purchased prior to such period that were designated as Available Shares but were not allocated under the Plan which the Company makes available to the Plan subsequent to the period in which such shares were purchased and the Board Committee thereafter designates as Available Shares for issuance under the Plan with respect to the Fiscal Year or portion thereof specified by the Board Committee.

Available Shares means the 12,883,000 shares of Common Stock the Company currently has duly authorized and available to be reserved for issuance upon exercise of the Warrants.

Available Shares means the Unsubscribed Shares that any Backstop Party fails to purchase as a result of a Backstop Party Default by such Backstop Party.

Available Shares means the aggregate number of shares of Common Stock which may be purchased by Eligible Employees under the Plan, as described in Section 5.

Available Shares means the number of shares of Common Stock available under this Plan at any time for future issuance under Stock Options, Stock-Settled SARs, Performance Share Awards, Restricted Share Awards or Restricted Stock Unit Awards, as provided in Section 3.2 of this Plan.