Examples of Elective Stock Units in a sentence
The Elective Stock Units are paid at the conclusion of board service or earlier as specified by the director, regardless of years of service.
As of each Retainer Payment Date, the Company shall credit the Eligible Director’s Current Stock Unit Account with a number of Elective Stock Units determined by dividing (X) the Deferred Amount of Retainers that otherwise would be paid in cash on such Retainer Payment Date by (Y) the Fair Market Value of a share of Stock on such Retainer Payment Date.
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An Eligible Director who defers the receipt of Director Stock shall have credited to the Elective Stock Unit Account a number of Elective Stock Units equal to the number of shares of Director Stock deferred.
The number of Elective Stock Units credited to the Elective Stock Unit Account shall be the amount obtained by dividing (X) the Deferred Amount by (Y) the Fair Market Value of a share of Stock on such Retainer Payment Date.
An Eligible Director may elect to defer the receipt of all or a portion of the Director Stock by making an election pursuant to Section 7(a), in which case there shall be credited to the Eligible Director’s Elective Stock Unit Account a number of Elective Stock Units equal to the number of shares of Director Stock being deferred.
An Eligible Director may elect to have all or part of the Deferred Amount credited to an Elective Stock Unit Account in the form of Elective Stock Units.
In addition, each director may defer payment of all or a portion of his or her remaining board retainer fee and other annual committee fees, which are placed into a stock unit account (Elective Stock Units).
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Each Eligible Director may elect, at the same time as a Deferral Election is made, to have one or more of the Investment Measurement Options applied to current deferrals, or to have the current deferrals credited to his/her Stock Units Account in the form of Elective Stock Units.