SPS AER Value means the Underlying Reference Value.
FR Value means, in respect of a ST FR Valuation Date, Worst Value.
SAR Value means the excess of the Fair Market Value (on the exercise date) over the exercise price that the participant would have otherwise had to pay to exercise the related Stock Option, multiplied by the number of shares for which the Stock Appreciation Right is exercised.
transfer value means the value of a transferred vote calculated in accordance with rules STV47.4 or STV47.7.
RI Value means, in respect of a Reference Item and a ST Valuation Date, (i) the RI Closing Value for such Reference Item in respect of such ST Valuation Date, divided by (ii) the relevant RI Initial Value (expressed as a percentage).