Option Spread definition

Option Spread means, with respect to an Option, the excess, if any, of the Fair Market Value of a share of Common Stock as of the applicable Valuation Date over the Exercise Price.

Option Spread applicable to an Option shall equal the product of the number of shares of Common Stock subject to such Option multiplied by the positive difference, if any, between the cash amount to be paid for each share of Common Stock in such merger or consolidation and the exercise price of such Option; and

Option Spread means (A) the sum of (x) $14.50 plus (y) the product of (i) the Exchange Ratio and (ii) the Average Closing Price minus (B) the exercise price per share payable immediately prior to the ----- Effective Time pursuant to the applicable Company Option.

Examples of Option Spread in a sentence

• The amount payable to the Participant in these circumstances shall be paid by the Company either in cash or in Shares having a Fair Market Value equal to the Option Spread, or a combination thereof, as the Committee shall determine at the time the Option is exercised or at the time the Option is granted.

• The Committee may, at any time, in its absolute discretion, without amendment to the Plan or any relevant Stock Option Grant Agreement, terminate the Options then outstanding, whether or not exercisable, provided, however, that the Company, in full consideration of such termination, shall pay (a) with respect to any Option, or portion thereof, then outstanding, an amount equal to the Option Spread determined as of the Valuation Date coincident with or next succeeding the date of termination.

• If the Withholding Request is denied, the Participant shall pay an amount equal to the applicable withholding taxes based on the Option Spread for each share of Common Stock specified in the Exercise Notice as of the most recent Valuation Date on or before such Exercise Date.

• Nothing contained herein shall prohibit any Futures Straddle or Option Spread Transaction effected pursuant to Rule 803 of the Clearing Organization from being priced in accordance with such Rule.

• Rule 24.19 permits the execution of Multi-Class Broad-Based Index Option Spread Orders, which are generally defined as orders to buy a stated number of contracts of a broad-based index option or ETF/ETN option derived from a broad-based index and to sell an equal number, or an equivalent number of contracts of a different broad- based index option or ETF/ETN option derived from a broad-based index.

More Definitions of Option Spread

Option Spread means, with respect to any date of determination, with respect to an Option, the excess, if any, of the Fair Market Value of a share of Common Stock as of such date over the Exercise Price.

Option Spread has the meaning assigned in Section 3.05(a).

Option Spread means, with respect to an Option, the excess if any, of the Fair Market Value of a Share as of the date of exercise of the Option over the Option Exercise Price (defined in Section 4.3).

Option Spread shall have the meaning set forth in Section 2.04(d) hereof.

Option Spread means the purchase and sale of put or call Options at a stated price difference.

Option Spread means, in the case of an Exercisable Option, the product of (i) the number of shares of Common Stock subject thereto with respect to which such option is then exercisable and (ii) the excess of (x) the per share amount that would be payable by the Company to the holder of such option with respect to the exercise by the Company of the Company Call Option, assuming that immediately prior thereto the holder of such option had exercised such Exercisable Option, over (y) the per share Exercise Price of the Exercisable Options.

Option Spread means, with respect to an Option, the excess if any, of the Fair Market Value of a Share as of the applicable valuation date (e.g., the date the Option is exercised) over the Exercise Price.