Subsequent Installment PSUs definition
Subsequent Installment PSUs shall equal the total number of shares subject to your PSUs minus the number of Initial Installment PSUs. Except as may be otherwise provided in the PSU Award Agreement or Change in Control Agreement, each Per Share Stock Requirement shall be calculated on any given date based upon the average of the daily NYSE closing price for the Company’s common stock for the 30-day period (calendar days) ending on the date that is two trading days prior to the Initial PSU Installment Date or Quarterly PSU Installment Date, as applicable.
Examples of Subsequent Installment PSUs in a sentence
Assuming that the applicable Per Share Stock Requirement has been satisfied as of each specified date, the PSUs are eligible to vest as follows: (i) all of the Initial Installment PSUs shall vest if you remain in continuous service as an employee or consultant (“Service”) through the Initial PSU Installment Date, and (ii) 1/14th of the Subsequent Installment PSUs shall vest on each of the next fourteen successive Quarterly PSU Installment Dates after the Initial PSU Installment Date.