Conversion of Units into Shares. Except as otherwise provided by a deferral election pursuant to Section 5 of this Agreement, vested Units shall be converted into Shares and distributed to Director when unvested Units become vested Units. If, however, Director elects to defer payment of Shares as provided in Section 5 of this Agreement, the Shares shall be issued as set forth in the Deferral Election Agreement entered into by Director and accepted by the Company.
Appears in 3 contracts
Sources: Restricted Stock Unit Agreement (Ventas Inc), Restricted Stock Unit Agreement (Ventas Inc), Restricted Stock Unit Agreement (Ventas Inc)