Definition of Phantom Share Unit
Examples of Phantom Share Unit in a sentence
Any fractional Phantom Share Unit that results from the computations hereunder shall be rounded up to the nearest whole number.
On May 29, 2010, the Board of Directors approved the establishment of the Company’s Phantom Share Unit Plan (“PSUP”); this is a cash-settled plan and the exercise price of all units is $nil.
Should Shares be issued pursuant to a Phantom Share Unit award in circumstances where they are not otherwise fully paid up, the Board may require the Participant to pay the aggregate Nominal Value of the Shares on the basis that such Shares underlying the Phantom Share Unit award shall then be allotted as fully paid to the Participant.
Phantom Share Unit awards shall be redeemable by the Participant to the Company upon such terms and conditions as the Board may establish.
The value of a single Phantom Share Unit shall be equal to the Fair Market Value of a Share, unless the Board otherwise provides in the terms of the Phantom Share Unit Agreement.