Performance Tranche definition

Performance Tranche has the meaning set forth in the applicable Award Agreement.

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Performance Tranche means either of a US VP+ Tranche or a US GM Tranche, each as defined below under the Section captioned “Representation Performance Goals.” “POC Group” means and includes, as determined by the Committee in its sole discretion based on the information reasonably available to the Committee, each of the following groups: (i) Black employees, (ii) LatinX employees, (iii) Asian/Pacific Islander, Native American and Multi-racial employees, and (iv) all employees of color (comprised of POC Groups (i) – (iii) inclusive). “Relative TSR Modifier” means a percentage ranging from 150% (for the highest rank) to 50% (for the lowest rank), determined by reference to the Company’s Relative TSR Rank over the Performance Period, as determined by the Committee in its sole discretion. “Relative TSR Rank” means, the rank order of the Peer Group Companies and the Company from highest TSR to lowest TSR, based on each company’s TSR over the Performance Period. “Target Representation” means, with respect to an Employee Group for a particular Management Level, an increase in the number of members of such Employee Group by [ ]. “Threshold Representation” means, with respect to an Employee Group for a particular Management Level, an increase in the number of members of such Employee Group by [ ]. “TSR” means, with respect to any company, the quotient obtained by dividing (i) such company’s Final Stock Price, plus per share dividends over the Performance Period (assuming reinvestment in such company’s common stock as of the applicable ex-dividend date), less the company’s Initial Stock Price, divided by (ii) such company’s Initial Stock Price.

Performance Tranche means that portion of an Award that is subject to vesting on the attainment of performance goals specified in the Award grant during the Restricted Period.

Examples of Performance Tranche in a sentence

As soon as administratively practicable and not later than 30 days after the vesting of a Cash Award, Participant shall receive from the Company a cash payment equal to the sum of (i) the amount of the Performance Tranche of the Cash Award as determined based on the Performance Metric results and (ii) the amount of the Service Tranche of the Cash Award granted to such Participant.
Notwithstanding any other provision hereof, upon the occurrence of a Change in Control, the unvested Service Tranche of the Cash Award granted hereunder then held by Participant shall become fully vested and the unvested Performance Tranche of the Cash Award granted hereunder then held by Participant shall vest at 150% of the Performance Metric.
The Performance Condition applicable to each Performance Tranche is set forth in Exhibit A.
As set forth in the Performance-Vesting Schedule Above, the PSUs shall be divided into Performance Tranches, with the PSUs subject to each Performance Tranche becoming performance-vested if, for any 20 trading days out of 30 consecutive trading days beginning after the Grant Date, the volume-weighted average price per Share (the “VWAP”) over such period is greater than the applicable VWAP Hurdle.
Except as otherwise provided in this Award Agreement, the Performance Condition shall be deemed satisfied with respect to each applicable Performance Tranche on the achievement of the Threshold Performance Condition, the Base Condition, the Target Performance Condition, the Overachieve Performance Condition and the Stretch Performance Condition, as applicable.
If the Achievement Percentage is less than 100%, then the Vested Portion will be equal to (i) the Achievement Percentage, multiplied (ii) by the Performance Component; provided, however, that if the Achievement Percentage is less than 100% as of the Completion Date and the achievement of Performance Tranche 2 is not yet determinable, the repayment obligation, if any, for up to 20% of the value of the Performance Component will be determined at the Emergence Date.
As set forth in the Performance-Vesting Schedule above and subject to Section 2(b) and 2(c), the PSUs shall be divided into Performance Tranches, with the PSUs subject to each Performance Tranche becoming performance-vested if, for any 20 trading days out of 30 consecutive trading days beginning after the Grant Date, the volume-weighted average price per Share (the “VWAP”) over such period is greater than the applicable VWAP Hurdle.
Each Performance Tranche will vest and be earned in accordance with the terms of Exhibit A of this Agreement.
Each Performance Tranche will vest and be earned in accordance with the terms of Exhibit A.
For example, if 20% is earned in the Second Period, 30% is earned in the Third Period and 25% is earned for the Fourth Period, the percentage of the Performance Component earned for Performance Tranche 3 would be 25%.

More Definitions of Performance Tranche

Performance Tranche means either of a US VP+ Tranche or a US GM Tranche, each as defined below under the Section captioned “Representation Performance Goals.”