Spread Value definition
Spread Value means, with respect to a share of Stock subject to an Award, an amount equal to the excess of the Fair Market Value, on the date such value is determined, over the Award’s exercise or grant price, if any.
Spread Value means (i) the number of shares exercised at a given time multiplied by the Fair Market Value of one share of Common Stock, less (ii) aggregate applicable Exercise Price.
Spread Value means, in respect of a stock option award to purchase Honeywell Common Stock granted under the Honeywell Equity Plans, the product of (a) the excess of (x) the “regular way” closing price of a share of Honeywell Common Stock on the last trading day immediately prior to the Distribution Date, over (y) the applicable exercise price of such stock option, multiplied by (b) the number of shares of Honeywell Common Stock subject to such stock option award.
Examples of Spread Value in a sentence
Each SpinCo Unit Option that is outstanding immediately following the Effective Time shall, as of immediately following the Effective Time, become fully vested (to the extent not already vested) and be cancelled and converted into the right to receive an amount in cash, without interest, equal to the Spread Value of such SpinCo Unit Option.
Any SpinCo Unit Option that has Spread Value equal to zero shall be cancelled for no consideration.
Any SpinCo Unit Option that has a Spread Value equal to zero shall be cancelled for no consideration.
The exercise price per share of each such New Parkway Stock Option shall be adjusted to equal the dollar amount (rounded up to the next higher whole cent) that is equal to (I) the New Parkway Post-Distribution Stock Value minus (II) the quotient obtained by dividing the Cousins Spread Value Reduction by the Distribution Ratio.
In satisfaction of the Optionee’s obligations under clause (ii), the Company may in its discretion deduct from any payment(s) of any kind (including salary or bonus) otherwise due to the Optionee a total amount equal to the Spread Value previously paid, and the Optionee hereby consents to such deduction and offset.
More Definitions of Spread Value
Spread Value means, with respect to a SpinCo Unit Option, the product of (a) the excess, if any, of the Implied SpinCo Common Unit Value over the per unit exercise price of such SpinCo Unit Option, multiplied by (b) the number of SpinCo Common Units underlying such SpinCo Unit Option.
Spread Value means the positive difference between (i) the fair market value of the underlying shares of the Replacement Options or Parent RSUs, as the case may be, at the Effective Time and (ii) the exercise price, if any, of such Replacement Options or Parent RSUs.
Spread Value means the excess of the Fair Market Value of one share of Common Stock on the date of exercise over the Fair Market Value of one share of Common Stock on the Grant Date, multiplied by the number of shares of Common Stock underlying the Award.
Spread Value means, for any Vested Cigna Stock Option, the positive difference, if any, between (i) the Merger Consideration Cash Value, less (ii) the per share exercise price or base price, as applicable, of such Vested Cigna Stock Option;
Spread Value means the difference between (i) the product of (1) the sum of the total number of Option Shares (x) Holder intends to purchase at the Closing Date pursuant to the prior exercise of the Option and (y) previously purchased pursuant to the prior exercise of the Option, and (2) the higher of (I) the most recent trading price of Issuer Common Stock as quoted in the NASDAQ National Market or as may be available from the best reliable source of such information on the last trading day immediately preceding the Closing Date and (II) the consideration per share of Issuer Common Stock to be offered or paid to or received by holders of Issuer Common Stock in connection with an Acquisition Transaction (provided, that if the consideration to be offered, paid, or received shall be other than in cash, the value of such consideration shall be determined in good faith by an independent nationally recognized investment banking firm selected by Holder and reasonably acceptable to Issuer, which determination shall be conclusive for all purposes of this Agreement), and (ii) the product of (1) the total number of Option Shares (x) Holder intends to purchase at the Closing Date pursuant to the exercise of the Option and (y) previously purchased pursuant to the prior exercise of the Option and (2) the applicable Purchase Price of such Option Shares. In the event the Spread Value exceeds $2,500,000, the number of Option Shares which Grantee is entitled to purchase at the Closing Date shall be reduced to that number of shares necessary such that the Spread Value equals or is less than $2,500,000.
Spread Value means, with respect to a Vested Eligible Option, an amount equal to the product of (x) the aggregate number of shares of Company Common Stock subject to such Vested Eligible Option immediately prior to the Effective Time, multiplied by (y) the excess, if any, of the Per Share Closing Consideration over the exercise price per share of Company Common Stock under such Option.
Spread Value means the product of (i) the number of Shares subject to the CIC Vesting Options and (ii) the excess (if any) of (x) the value per share payable in respect of the Shares of the Company to Shareholders in the Sale of the Company, over (y) the Option Price (as in effect on the day immediately prior to the consummation of such Sale of the Company) per each Share subject to the CIC Vesting Options. For purposes of the foregoing, (A) if the Shareholders receive cash in respect of their Shares, then the Spread Value, if any, shall be measured and payable in cash based on the per share cash amount paid to Shareholders in connection with the Sale of the Company; (B) if the Shareholders receive securities or other property in respect of their Shares, then the Spread Value, if any, shall be measured and payable in the form of such securities or other property, with the amount of the securities or other property, if any, that the Optionee receives in respect of the CIC Vesting Options being equal to the securities or other property that the Optionee would have received if the CIC Vesting Options had been exercised immediately prior to the Sale of the Company and the aggregate Option Price (as in effect on the day immediately prior to the consummation of such Sale of the Company) for such Options was paid in Shares as permitted under Section 2 of this Agreement (with the number of Shares withheld for purposes of paying the aggregate Option Price determined pursuant to the same method required to be used to determine the Fair Market Value of the Shares); and (C) if the Shareholders receive a combination of the two foregoing forms of consideration, then the Spread Value shall be measured and payable in cash and securities or other property in the same per Share proportion as is paid to the Shareholders and otherwise consistent with the principles set forth in clauses (A) and (B) above.