Examples of Vesting Tranche in a sentence
Please check the box for the applicable election: ____ (1) Pursuant to Section 4 of the Agreement, I hereby elect to have each Vesting Tranche delivered pursuant to the following schedule: Vesting Tranche Number of RSUs Vesting Vesting Date Delivery Date Vesting Tranche 1 Vesting Tranche 2 Vesting Tranche 3 Vesting Tranche 4 ____ (2) I elect to not defer the delivery of the shares underlying my RSUs and take delivery thereof on the applicable vesting date for each Tranche.
In the event the Participant’s Severance Date occurs prior to the Final Vesting Date and other than on one of the vesting dates set forth in Section 3, and the Participant’s Severance Date is the result of the death or Permanent Disability (as defined below) of the Participant, the next Vesting Tranche of the Award that is scheduled to vest following the Participant’s Severance Date shall immediately vest and become nonforfeitable as of the Participant’s Severance Date.
At the end of the Performance Period, the portion of each Vesting Tranche allocated to that Performance Period that vests shall be determined based on the Company’s performance during that Performance Period relative to the applicable Performance Goal as follows: • If the Company meets or exceeds a particular Performance Goal, one hundred percent (100%) of the Vesting Tranche related to that Performance Goal shall vest.
The PRSUs are divided into three equal tranches (the “First Vesting Tranche”, the “Second Vesting Tranche” and the “Third Vesting Tranche”, each a “Vesting Tranche”), with each Vesting Tranche covering 1/3 of the PRSUs.
At Sovereign Grace Church, our goal is to keep the gospel at the heart of all that we do.
Shares of Restricted Stock in a given Vesting Tranche that do not vest pursuant to the immediately preceding sentence shall be forfeited by the Holder immediately upon the expiration of the applicable Service Period.
As soon as administratively practicable after a Restricted Stock Award or RSU Award vests (for example, as part of a Vesting Tranche), Shares covered by the portion of such Restricted Stock Award that vested, or in the case of RSUs cash and/or Shares covered by such vested RSU that vested, shall be delivered (in the case of Shares, electronically or in paper form) to the Participant.
Performance Shares in a given Vesting Tranche that are no longer eligible to vest following the Committee’s determination of Total Shareholder Return with respect to a given Performance Period shall immediately be forfeited to the Company by the Participant for no consideration as of the date of such determination.
Each such anniversary date shall be referred to herein as the “Regular Vesting Date” of the Vesting Tranche vesting on such date.
The total number of vested Performance Shares in each Vesting Tranche shall be delivered following the later of (i) expiration of the Service Period and (ii) the Committee’s determination of Total Shareholder Return with respect to the Performance Period for such Vesting Tranche.