Dividend Share Credits definition

Dividend Share Credits means, with respect to a Stock Option granted prior to February 24, 1997, the total number of credits allocated to an optionee on any date. The number of Dividend Share Credits credited as of any record date for cash dividends declared on Common Stock shall be the aggregate number derived by (i) multiplying the dividend rate declared per share of Common Stock by the number of Dividend Rights held by an optionee as of the dividend record date, and then (ii) dividing the resulting figure by the Fair Market Value of a share of Common Stock on such record date. Dividend Share Credits attributable to exercised, expired or surrendered Stock Options shall be canceled upon such exercise, expiration or surrender and their treatment shall be as provided in Article IV of the Plan.
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Dividend Share Credits means, with respect to a Stock Option granted prior to February 24, 1997, the number of units to be recorded as credited to an Outside Director, as of the record date established by the Board of Directors of the Company for each cash dividend declared on issued and outstanding shares of Common Stock, with respect to the Dividend Rights held by an Outside Director on such record date. The number of units constituting each Dividend Share Credit shall be the aggregate number derived by (i) multiplying the dividend rate declared per share of Common Stock by the number of Dividend Rights held by an Outside Director as of the dividend record date, and then (ii) dividing the resulting figure by the Fair Market Value of a share of Common Stock on such record date."
Sample 1
Dividend Share Credits. (DSC's) shall mean the number of credits, expressed as an equivalent number of shares of Common Stock, to be recorded as credited to an Eligible Employee as of the record date established by the Board of Directors of the Company for each cash dividend declared and issued on outstanding shares of Common Stock, with respect to the Stock Rights held by an Eligible Employee on such record date. The number of DSCs to be credited shall be the aggregate number derived by (i) multiplying the declared dividend rate per share of Common Stock by the number of Stock Rights held by an Eligible Employee as of the dividend record date, and (ii) dividing the resulting figure by the Fair Market Value of a share of Common Stock on such record date. The DSCs will be calculated to the nearest 0.0001 of a unit.
Sample 1

Examples of Dividend Share Credits in a sentence

  • Except as provided under Subsection (c) hereof, no amendment, discontinuance or termination shall deprive persons who hold shares of Contingent Restricted Stock, Restricted Stock or Performance-Based Restricted Stock, or who are entitled to exercise Stock Options, or to receive a settlement of Dividend Share Credits pursuant to the terms and provisions of the Plan, of their rights with respect thereto.

  • Dividend Share Credits shall not be considered as dividends on Common Stock for any purpose.

  • Specifically, d is defined such that no deformation occurs at the zero vec- tor, which is assumed to be the mean of the distribution,leaving only the covariance to be estimated.

  • Dividend Share Credits DSCs shall be credited as ---------------------- provided in Article I, Section 3(c).

  • Neither VIP Units or Dividend Share Credits, nor any rights or contingent rights may be sold, transferred, assigned, pledged, hypothecated, or otherwise encumbered or disposed of, except by will or under the laws of descent and distribution.

  • All Performance-Based Dividend Share Credits relating to such Stock Option shall be cancelled.

  • The Plan and the grant and exercise of Stock Options, the crediting and payment of Dividend Share Credits and the award of Contingent Restricted Stock, Restricted Stock and Performance-Based Restricted Stock hereunder, shall be subject to all applicable rules and regulations of governmental or other authorities.

  • Accordingly, termination of employment by the Company to enter into employment by one of these companies shall not result in the cancellation of VIP Units or Dividend Share Credits or the forfeiture of any rights hereunder.

  • Dividend Share Credits shall be credited as provided in Article 1, Subsection 2(j) of the Plan.

  • Interest shall be due and payable not later than the Maturity Date and shall be calculated on the basis of a 360 day year for the actual number of days elapsed.

Related to Dividend Share Credits

  • Dividend Shares means the shares of Common Stock issuable in payment of dividends payable on the Preferred Shares in accordance with the terms of the Certificate of Designation.

  • DSUs means the deferred share units granted under the DSU Plan;

  • Deferred Shares means an award made pursuant to Section 7 of this Plan of the right to receive Common Shares at the end of a specified Deferral Period.

  • Share Units means the hypothetical Shares that are credited to the Share Unit Accounts in accordance with Section 5.3.

  • Dividend Equivalents means a right granted to a Participant under the Plan to receive the equivalent value (in cash or Shares) of dividends paid on Shares.

  • Dividend Equivalent Unit means the right to receive a payment, in cash or Shares, equal to the cash dividends or other cash distributions paid with respect to a Share.

  • Ex-Dividend Time means, with respect to any distribution on shares of Common Stock, the first date on which the shares of Common Stock trade regular way on the principal securities market on which the shares of Common Stock are then traded without the right to receive such distribution.

  • Ordinary Shares Equivalents means any securities of the Company or the Subsidiaries which would entitle the holder thereof to acquire at any time Ordinary Shares, including, without limitation, any debt, preferred stock, right, option, warrant or other instrument that is at any time convertible into or exercisable or exchangeable for, or otherwise entitles the holder thereof to receive, Ordinary Shares.

  • Phantom Stock means a right granted to an Eligible Individual under Section 12 representing a number of hypothetical Shares.

  • Bonus Stock means shares of Common Stock which are not subject to a Restriction Period or Performance Measures.

  • Dividend Equivalent means a right to receive the equivalent value (in cash or Shares) of dividends paid on Shares, awarded under Section 9.2.

  • Deferred Share Unit or “DSU” means a unit equivalent in value to a Share, credited by means of a bookkeeping entry in the books of the Corporation in accordance with Article 7;

  • Share Unit means a unit credited by means of an entry on the books of the Corporation to a Participant pursuant to the Plan, representing the right to receive, subject to and in accordance with the Plan, for each Vested Share Unit one Share, at the time, in the manner, and subject to the terms, set forth in the Plan and the applicable Grant Agreement;

  • Performance Shares means Shares or an Award denominated in Shares which may be earned in whole or in part upon attainment of performance criteria established by the Administrator.

  • Deferred Stock Units means the number of hypothetical Shares subject to an Election.

  • RSUs means restricted stock units.

  • Stock Units means investment units under the Deferred Delivery Plan, each of which is deemed to be equivalent to one share of Stock.

  • Phantom Shares means an Award of the right to receive Shares issued at the end of a Restricted Period which is granted pursuant to Section 6(e) of the Plan.

  • Dividend Parity Stock means any class or series of stock of the Corporation that ranks on a parity with the Series E in the payment of current dividends, including the Series A, the Series B, the Series C and the Series D.

  • Dividend Amount means, with respect to any date on which the Company pays a dividend on its outstanding Common Stock, the amount of such dividend that is paid per share of Common Stock multiplied by (x) the Purchase Amount divided by (y) the Liquidity Price (treating the dividend date as a Liquidity Event solely for purposes of calculating such Liquidity Price).

  • Stock Unit means a bookkeeping entry representing the equivalent of one Common Share, as awarded under the Plan.

  • Deferred Share means a Share which by its terms of issue is a deferred share as defined in the Statutes and includes a permanent interest bearing share and a Core Capital Deferred Share;

  • Deferred Stock Unit means a right granted to a Participant under Article 9 to receive Shares (or the equivalent value in cash or other property if the Committee so provides) at a future time as determined by the Committee, or as determined by the Participant within guidelines established by the Committee in the case of voluntary deferral elections.

  • Deferred Stock means a right to receive a specified number of shares of Stock during specified time periods pursuant to Article 8.

  • Stock Unit Account means the bookkeeping account established by the Company pursuant to Section 6.4.

  • Common Stock Dividend means a stock dividend declared and paid on the Common Stock that is payable in shares of Common Stock.