Average Stock Price. Subject to the terms of this Agreement, including the service-based vesting requirement under Section 3 below, the performance-based vesting requirement of the PSUs shall be measured as of December 31, 2020 (the “Measurement Date”), based on the Common Stock achieving an average closing trading price on the New York Stock Exchange (or other principal securities exchange on which the Common Stock is then traded) for the twenty (20) trading days immediately preceding the Measurement Date (“Average Stock Price”). The number of PSUs so vested shall be determined in accordance with the table below, with straight line interpolation applied to determine the number of PSUs that are earned for an Average Stock Price between the levels listed in the table, rounded up to the nearest whole Share: $7.50 Threshold 20% 1,600 $12.50 Target 100% 8,000 $22.50 Maximum 250% 20,000
Appears in 1 contract
Sources: Performance Stock Unit Award Agreement (DITECH HOLDING Corp)
Average Stock Price. Subject to the terms of this Agreement, including the service-based vesting requirement under Section 3 below, the performance-based vesting requirement of the PSUs shall be measured as of December 31April 18, 2020 2019 (the “Measurement Date”), based on the Common Stock achieving an average closing trading price on the New York Stock Exchange (or other principal securities exchange on which the Common Stock is then traded) for the twenty (20) trading days immediately preceding the Measurement Date (“Average Stock Price”). The number of PSUs so vested shall be determined in accordance with the table below, with straight line interpolation applied to determine the number of PSUs that are earned for an Average Stock Price between the levels listed in the table, rounded up to the nearest whole Share: $7.50 Threshold 20% 1,600 40,000 $12.50 Target 100% 8,000 200,000 $22.50 Maximum 250% 20,000500,000
Appears in 1 contract
Sources: Performance Stock Unit Award Agreement (DITECH HOLDING Corp)