Examples of Citizens Common Stock in a sentence
This discussion further assumes that Citizens shareholders hold their Citizens Common Stock as capital assets within the meaning of Section 1221 of the Code.
Citizens' shareholders who exercise dissenters' rights of appraisal and who receive cash in cancellation of their Citizens Common Stock generally will recognize taxable gain or loss, measured by the difference between the amount of cash received and the shareholder's cost or other basis in the Citizens Common Stock canceled in the Merger.
Risk adjusted revenue is defined as net interest income and non-interest income less net charge-offs.
The aggregate adjusted tax basis of the shares of Union Common Stock received by each shareholder of Citizens, all of whose Citizens Common Stock is converted solely into Union Common Stock in the Merger, will equal the aggregate adjusted tax basis of such shareholder's shares of Citizens Common Stock (reduced by any amount allocable to fractional share interests for which cash is received) exchanged in the Merger.
Any cash received by a shareholder of Citizens in lieu of a fractional share will be treated as received in exchange for such fractional share and not as a dividend, and any gain or loss recognized as a result of 1 the receipt of such cash will be capital gain or loss equal to the difference between the cash received and the portion of the shareholder's basis in Citizens Common Stock allocable to such fractional share interest.
No gain or loss will be recognized by holders of Citizens Common Stock as a result of the conversion of such shares into shares of Union Common Stock pursuant to the Merger, except that gain or loss will be recognized on the receipt of cash, if any, received in lieu of fractional shares.
As of the Citizens Capitalization Date, there were no shares of Citizens Common Stock held in Citizens's treasury.
As of September 30, 2004, Citizens had issued and outstanding Citizens Stock Options for the purchase of 242,100 shares of Citizens Common Stock, with an average exercise price of $13.07.
If the Average Price Per Share (as defined in Section 2.2(e) hereof) of Citizens Common Stock is greater than $19.50, the Conversion Number shall be adjusted downward to the number obtained by multiplying the Conversion Number by a fraction the numerator of which is $19.50 and the denominator is the Average Price Per Share but not more than $21.
The shares of Citizens Common Stock that shall be issued to the shareholders of Mid Am upon consummation of the Merger shall have been authorized for listing on the Nasdaq subject to official notice of issuance.