Vested Shares definition
Examples of Vested Shares in a sentence
In any event, all Vested Shares, together with any other vested assets held in escrow under this Agreement, shall be released within 90 days after the earlier of (i) the termination of the Participant’s Service to the Company or (ii) the lapse of the Right of First Refusal.
All ordinary cash dividends on Unvested Shares (or on other securities held in escrow) shall be subject to the restrictions and the risk of forfeiture applicable to the related Unvested Share and shall only be paid to the Participant if the underlying Shares become Vested Shares.
In the case of Vested Shares, the Company shall cause any certificates evidencing such Shares to be recorded with appropriate notations regarding the restrictions set forth herein.
Shares of Restricted Stock that have not yet become vested shall be referred to herein as “Unvested Shares” and Shares of Restricted Stock that have vested hereunder shall be referred to herein as “Vested Shares.” Shares of Restricted Stock shall become Vested Shares in accordance with the Vesting Schedule set forth in Section 1(a) above.
If the Unvested Share to which such dividends relate become Vested Shares, then such dividends shall be paid as soon as administratively feasible after such Unvested Shares become Vested Shares, but in no event later than 60 days after the date such Unvested Shares become Vested Shares.