Examples of Initial Stock Units in a sentence
Neither Annual Stock Units nor Initial Stock Units may be sold, transferred, pledged, assigned or otherwise conveyed by an Eligible Director.
The shares delivered upon conversion of Annual Stock Units and Initial Stock Units will not be subject to any transfer restrictions, other than those that may arise under the securities laws or the Company’s policies.
In all cases, a Deferral Election Form shall be effective only with respect to the Annual Stock Units and Initial Stock Units that are earned after the Deferral Election is made.
Upon receipt of written notice from Seller, Buyer shall have ten days (10) to remedy the default by providing Seller with that installment payment that is past due.
An Eligible Director may elect to defer receipt of Annual Stock Units and Initial Stock Units by submitting a Deferral Election Form to the Secretary indicating: (i) the Distribution Commencement Date for such Mandatory Stock Unit Account, in accordance with Section 7(d) and (ii) whether distributions are to be made in a lump sum, installments or a combination thereof, in accordance with Section 7(e).
All Deferral Elections with respect to any Annual Stock Units and Initial Stock Units, once made, shall be irrevocable.
The Initial Stock Units will become vested in three equal annual installments, commencing on the first anniversary of the date of grant and continuing thereafter on the second and third anniversaries thereof.
Annual Stock Units and Initial Stock Units credited to the Mandatory Stock Unit Account of each Eligible Director shall be deferred in accordance with Section 7(b).
Neither Annual Stock Units nor Initial Stock Units may be sold, transferred, pledged, assigned or otherwise conveyed by an Eligible Director until distributed in accordance with Section 7 or Section 9.
The six months ended April 30, 2022, includes a tax benefit of $3.6M related to the expiring statute of limitations.Unaudited Reconciliation of Non-GAAP Financial Measures(a) The Company has revised its calculation for adjusted EBITDA margin for all periods presented to exclude parking management reimbursement revenue, which the 13Company believes provides a clearer understanding of its operating margins.