Section 83(b) Election means an election by a Participant to include the Fair Market Value of a Share (less any amount paid for the Share) at the time of grant as part of the Participant’s income in accordance with Section 83(b) of the Code. A Section 83(b) Election must be filed in writing with the Internal Revenue Service within thirty (30) days of the date of the Award, with a copy to the Company or Affiliate with whom the Participant is employed.
Section 83(b) Election means an election under Section 83(b) of the Code, or any successor provision thereto, to include the value of the Restricted Shares in taxable income for the calendar year in which the Award is granted.
Section 83(b) Election means an election made pursuant to Section 83(b) of the Internal Revenue Code of 1986, as amended, to be taxed with respect to the Restricted Shares at the time of grant rather than upon the lapse of the Restrictions.
Examples of Section 83(b) Election in a sentence
Unless a Participant makes a Section 83(b) Election, the Participant will recognize taxable income on each vesting date in respect of the shares of Restricted Stock vesting thereupon, and the Company shall report such income to the appropriate taxing authorities in respect of the vesting shares of Restricted Stock as it determines to be necessary and appropriate.
The Committee may, in its sole discretion, provide for payment of a concurrent cash award in an amount equal to all or part of the estimated after-tax amount required to satisfy applicable federal, state or local tax obligations arising from the receipt and deemed vesting of Stock for which a Section 83(b) Election may be required.
More Definitions of Section 83(b) Election
Section 83(b) Election shall have the meaning set forth in Section 5.2(e).
Section 83(b) Election means an election made pursuant to Section 83(b) of the Internal Revenue Code of 1986, as amended, electing to be taxed with respect to the Restricted Shares at the time of grant rather than upon the forfeiture of the Restrictions.
Section 83(b) Election has the meaning set forth in Section 3.08(a).
Section 83(b) Election means an election that complies with the requirements of Section 83(b) of the Code and the Treasury Regulations promulgated thereunder.
Section 83(b) Election means an election by a recipient of Restricted Stock to immediately recognize ordinary compensation income in an amount equal to the Fair Market Value of the Restricted Stock on the date of grant pursuant to Section 83(b) of the Code.
Section 83(b) Election means an election pursuant to Section 83(b) of the Code to recognize tax upon the issuance of Shares or any similar election under the Applicable Law of any applicable jurisdiction.