Examples of RSU Plan in a sentence
The Corporation has a Restricted Share Unit Plan (“RSU Plan”) and a Stock Option Plan as approved by shareholders at a special shareholders meeting on July 31, 2008 that authorizes the Board of Directors to grant awards of RSUs and Options subject to a maximum of ten percent of the issued and outstanding common shares of the Corporation.The RSU Plan will settle in voting common shares which may be issued from treasury or purchased on the Toronto Stock Exchange.
Share-based compensation (continued) Deferred and restricted share units On February 16, 2018, the Board of Directors has approved amendments to the Company’s RSU plan, which now provides for the right of the Company to settle a payment in the form of common shares, cash or a combination of common shares and cash (the “Amended RSU Plan”).The Amended RSU Plan was approved by the shareholders at the Annual and Special Meeting of Shareholders on May 3, 2018.
Eligibility to participate as a Participant in the RSU Plan does not confer upon any person a right to receive an award of RSUs.Subject to certain restrictions, the Board or its appointed committee (the “Board”), can, from time to time, award RSUs to Eligible Persons.
The stock-based compensation expense relating to the RSU Plan is based on the issue price at the time of grant and management’s estimate of the future performance conditions and will be amortized over the thirty-six month vesting period.