Phantom Value definition

Phantom Value means, with respect to a SpinCo Phantom Unit, the product of (a) the Implied SpinCo Common Unit Value multiplied by (b) the number of SpinCo Common Units underlying such SpinCo Phantom Unit.
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Examples of Phantom Value in a sentence

  • Our Board of Directors approved the Realogy Group Phantom Value Plan (the “Phantom Value Plan”) in January 2011 to provide the NEOs and three other executive officers with a renewed incentive to generate value in the Company.

  • Pursuant to the terms of the Phantom Value Plan, the performance-based, long-term incentive plan adopted in January 2011 to align the interests of management with those of our shareholders, certain of our executive officers received shares of the Company's common stock as a result of the sale of shares of common stock held by RCIV Holdings (one of the selling stockholders in the secondary offerings and an affiliate of Apollo).

  • Rising interest rates have significantly slowed mortgage refinancings, resulting in downward pressure on margins for mortgage lenders; • a $31 million increase in royalties paid to our Real Estate Franchise Services segment; • a $21 million increase in employee-related costs of which $5 million relates to the Phantom Value Plan; • a $10 million increase in other operating expenses; and • a $7 million increase in marketing expenses due to additional transaction volume.

  • See also discussion below under "Long Term Cash Incentives—Phantom Value Plan" for a discussion of stock options granted to the NEOs in 2012 in accordance with the terms of the Phantom Value Plan.

  • The Phantom Value Plan provides the participants with the opportunity to receive compensation based upon the Company’s success and the cash received by RCIV upon the transfer or sale of the 57,462,269 shares of Common Stock that RCIV received in connection with our initial public offering (the "RCIV Shares") upon conversion of the Realogy Group Convertible Notes in the aggregate principal amount of $1,338,190,220 that had been issued to RCIV in January 2011 (the "RCIV Notes").

  • These EBITDA increases were partially offset by a $3 million increase in licensing fees related to our agreements to operate and franchise the Sotheby's International Realty and Better Homes and Gardens Real Estate brands and a $4 million increase in employee-related costs primarily related to the Phantom Value Plan.

  • The participants were not entitled to a payment under the Phantom Value Plan in connection with our initial public offering because RCIV received the RCIV Shares upon conversion of the Convertible Notes and the related letter agreement between the Company and Apollo described under "Item 13.—Certain Relationships and Related Party Transactions, and Director Independence" and did not receive any cash upon the conversion of the RCIV Notes.

Related to Phantom Value

  • Phantom Share means a right, pursuant to the Plan, of the Grantee to payment of the Phantom Share Value.

  • Unit Value means, at any time, the value of each Stock Unit, which value shall be equal to the Fair Market Value (as defined in the Plan) of a Share on such date.

  • RI Value means, in respect of a Reference Item and a ST Valuation Date, (i) the RI Closing Value for such Reference Item in respect of such ST Valuation Date, divided by (ii) the relevant RI Initial Value (expressed as a percentage).

  • SAR Value means the excess of the Fair Market Value (on the exercise date) over the exercise price that the participant would have otherwise had to pay to exercise the related Stock Option, multiplied by the number of shares for which the Stock Appreciation Right is exercised.

  • Cash Performance Award means an Award that is denominated by a cash amount to an Eligible Person under Section 10 hereof and payable based on or conditioned upon the attainment of pre-established business and/or individual Performance Goals over a specified performance period.