Performance Vesting definition

Performance Vesting. Attached Schedule I specifies the two Performance Goals to be attained for the specified Performance Period. Within seventy-five (75) days after the completion of that Performance Period, the Administrator shall determine and certify the actual level of attainment for each Performance Goal. On the basis of that certified level of attainment, the number of Performance Shares will be multiplied by the applicable percentage (which may range from 0% to 200%) determined in accordance with the percentile matrix set forth in Schedule I. The number of shares resulting from such calculation shall constitute the maximum number of shares of Common Stock in which Participant may vest under this Award and shall be designated the “Performance-Qualified Shares.” In no event may the number of such Performance-Qualified Shares exceed 200% of the number of Performance Shares specified in the Number of Performance Shares section above. To the extent any Performance Goal is attained at a level below the twentieth percentile, a portion of the Performance Shares, as determined in accordance with the percentile matrix set forth in Schedule I, may be forfeited, and any such forfeited Performance Shares shall be immediately cancelled. Participant shall thereupon cease to have any further right, title or interest in the shares of Common Stock underlying those cancelled Performance Shares.
View Source
Performance Vesting. Attached Schedule I specifies the Performance Objective to be attained for each tranche for the specified Measurement Period. No later than the last business day of February in the calendar year immediately following the end of the Measurement Period, the Plan Administrator shall determine and certify the actual level of attainment for the Performance Objective for each tranche (the “Performance Certification Date”). On the basis of that certified level of attainment, for each tranche of the Award, the number of Target Shares allocated to that tranche of the Award will be multiplied by the applicable percentage for that tranche (which may range from 0% to 200%) determined in accordance with the table set forth in Schedule I. The number of shares resulting from such calculation for each tranche shall be aggregated, and such aggregated number of shares shall constitute the maximum number of shares of Common Stock in which Participant may vest under this Award and shall be designated the “Performance- Qualified Shares.” In no event may the number of such Performance-Qualified Shares exceed 200% of the number of Target Shares. Should the Performance Objective for any tranche be attained at a level below the threshold level specified in the attached Schedule I for that tranche, the Award with respect to that tranche shall be forfeited and shall be immediately cancelled. Participant shall thereupon cease to have any further right, title or interest in the shares of Common Stock underlying the cancelled tranche of the Award.
View Source
Performance Vesting means any performance-related conditions in respect of the Vesting of Unit Awards determined by the Board from time to time, which without limitation may include, performance of WestJet, any WestJet Entity, WestJet shareholder return or otherwise, and which may be graduated by percentages of a Unit Award, including a percentage in excess of 100%;
View Source

Examples of Performance Vesting in a sentence

  • The Committee’s good faith calculation of the number of RSUs that become vested and non-forfeitable pursuant to the Performance Vesting Formula shall be final and binding upon you and the Company.

  • The period(s) specified in the attached Schedule, over which achievement of the Performance Vesting Requirements is to be measured.

  • Except as otherwise provided herein, the Participant’s right to receive Shares subject to the mPRSUs is contingent upon the Participant continuing to provide Service (as defined in Section 3 below) to the Company (or any Related Entity) through the Performance Vesting Date.

  • Any Performance Vesting RSUs which become Earned RSUs following the Determination Date shall become vested and settled in accordance with Section 4 as soon as practicable following the Determination Date.

  • In addition, upon the Determination Date, you shall forfeit all of your right, title and interest in and to any RSUs that are eligible to vest and become non-forfeitable on such date, but which fail to vest and become non-forfeitable on such date pursuant to the Performance Vesting Formula.

  • Except as otherwise provided in this Section 3, the PRSUs subject to this Award shall become vested in accordance with the Performance Vesting Conditions; provided that the Participant remains continuously employed by the Company or an Affiliate from the Grant Date through the Vesting Date set forth above.

  • The maximum number of Shares the Employee may receive under this Award based on the extent to which the Performance Vesting Requirements are achieved.

  • The date on which the Committee determines whether or to what extent the Performance Vesting Requirements have been achieved.

  • Any Performance Vesting Units that have not become Vested Units upon a Change in Control (after taking into account Performance Vesting Units that vest in connection with such Change in Control) shall be forfeited without consideration paid therefor.

  • Any portion of any such award that is eligible to vest on a particular Annual Performance Vesting Date and does not vest on that date shall expire on that date with no possibility of further vesting.


More Definitions of Performance Vesting

Performance Vesting. Attached Schedule I specifies the Performance Objective to be attained for the specified Measurement Period. No later than the last business day of February in the calendar year immediately following the end of the Measurement Period, the Plan Administrator shall determine and certify the actual level of attainment for the Performance Objective (the “Performance Certification Date”). On the basis of that certified level of attainment, the number of Target Shares will be multiplied by the applicable percentage (which may range from 0% to 150%) determined in accordance with the table set forth in Schedule I. The number of shares resulting from such calculation shall constitute the maximum number of shares of Common Stock in which Participant may vest under this Award and shall be designated the “Performance-Qualified Shares.” In no event may the number of such Performance-Qualified Shares exceed 150% of the number of Target Shares. To the extent the number of Performance-Qualified Shares resulting from the calculation described in the preceding paragraph equals zero, the Award shall be forfeited and shall be immediately cancelled. Participant shall thereupon cease to have any further right, title or interest in the shares of Common Stock underlying the cancelled Award.
View Source

Related to Performance Vesting

  • Vesting Dates means, as determined by the Board or by the Committee, the date as of which the Optionee shall be entitled to exercise the Options or part of the Options, as set forth in section 11 of the ISOP.

  • Performance-Based Restricted Stock means Shares issued or transferred to an Eligible Individual under Section 9.2.

  • Performance Option means an Incentive Stock Option or Nonqualified Stock Option, the grant of which or the exercisability of all or a portion of which is contingent upon the attainment of specified Performance Measures within a specified Performance Period.

  • Performance Stock means a Target Number of Shares granted pursuant to Section 10(a) of the Plan.

  • Performance Share Units means Performance Share Units granted to an Eligible Individual under Section 9.1(b).