SpinCo Common Stock definition
Examples of SpinCo Common Stock in a sentence
The performance-based vesting conditions shall remain in place for the SpinCo PSUs provided that, the stock price hurdles shall be with respect to SpinCo Common Stock and shall be adjusted by dividing (A) the product of (i) the applicable hurdle and (ii) the quotient obtained by dividing (1) the SpinCo Per Share Value by (2) the Company Per Share Value by (B) the Distribution Ratio.
Prior to the Distribution Date, the Company and SpinCo shall prepare and file with a National Securities Exchange a listing application and related documents and shall take all such other actions with respect thereto as shall be necessary or desirable in order to cause such National Securities Exchange to list on or prior to the Distribution Date, subject to official notice of issuance, the SpinCo Common Stock.
The number of shares of SpinCo Common Stock underlying each SpinCo Option shall equal the number of shares underlying the applicable Pre-Spin Company Option multiplied by the Distribution Ratio, the product of which shall be rounded down to the nearest whole number of shares.
The Company shall instruct the Agent to deliver the SpinCo Common Stock previously delivered to the Agent to a depositary and to mail (or otherwise transmit in accordance with the Agent’s regular practices) to each holder of record of Company Common Stock on the Distribution Record Date, a statement of the SpinCo Common Stock credited to such holder’s account.
In lieu of fractional shares, cash shall be given to holders otherwise entitled to such fractional shares of SpinCo Common Stock on the Distribution Date.