Examples of Annual Stock Units in a sentence
Neither Annual Stock Units nor Initial Stock Units may be sold, transferred, pledged, assigned or otherwise conveyed by an Eligible Director.
As of the date of each Annual Meeting, commencing with the 1997 Annual Meeting, each Non-Employee Director shall automatically receive an Award of Director Options or Director Annual Stock Units as provided in this Section 7.
The shares delivered upon conversion of Annual Stock Units and Initial Stock Units will not be subject to any transfer restrictions, other than those that may arise under the securities laws or the Company’s policies.
Notwithstanding the foregoing, a Deferral Election relating to Annual Stock Units may be superseded with respect to future deferrals of an Eligible Director’s Annual Stock Units by submitting a new Deferral Election Form to the Secretary, in which case such new Deferral Election shall be effective starting with the Annual Stock Units earned in the fiscal year following the year in which such new Deferral Election Form is submitted.
Annual Stock Units and Initial Stock Units credited to the Mandatory Stock Unit Account of each Eligible Director shall be deferred in accordance with Section 7(b).
In all cases, a Deferral Election Form shall be effective only with respect to the Annual Stock Units and Initial Stock Units that are earned after the Deferral Election is made.
The Annual Stock Units will become fully vested on the day immediately preceding the Company’s next annual meeting of stockholders at which Directors (or a class of Directors if the Company then has a classified Board of Directors) are elected or reelected by the Company’s stockholders.
Upon receipt of written notice from Seller, Buyer shall have ten days (10) to remedy the default by providing Seller with that installment payment that is past due.
An Eligible Director may elect to defer receipt of Annual Stock Units and Initial Stock Units by submitting a Deferral Election Form to the Secretary indicating: (i) the Distribution Commencement Date for such Mandatory Stock Unit Account, in accordance with Section 7(d) and (ii) whether distributions are to be made in a lump sum, installments or a combination thereof, in accordance with Section 7(e).
All Deferral Elections with respect to any Annual Stock Units and Initial Stock Units, once made, shall be irrevocable.