Common use of Conversion of Vested Stock Units and Delivery of Shares Clause in Contracts

Conversion of Vested Stock Units and Delivery of Shares. Conversion to Common Stock: Upon vesting, each vested RSU (including each vested Granted RSU and each vested Dividend Equivalent RSU) shall be converted into a single share of AEP Common Stock for delivery in accordance with the section of this award agreement entitled Delivery of Shares of Common Stock. Fractional RSUs that constitute less than a single share may be converted to cash at AEP’s option.

Conversion of Vested Stock Units and Delivery of Shares. Conversion to AEP Common Stock: Upon vesting, each vested RSU (including each vested Granted RSU and each vested Dividend Equivalent RSU) shall be converted into a single share of AEP Common Stock for delivery in accordance with the section of this award agreement entitled Delivery of Shares of AEP Common Stock, below. Fractional RSUs that constitute less than a single share may be converted to cash paid in Shares of AEP Common Stock, cash, as additional income tax withholding or any combination thereof, at AEP’s option.

Conversion of Vested Stock Units and Delivery of Shares. Conversion to Common Stock: Upon vesting, each vested RSU (including each vested Granted RSU and each vested Dividend Equivalent RSU) shall be converted into a single share of AEP Common Stock for delivery in accordance with the section of this award agreement entitled Delivery of Shares of Common Stock/Payment of Cash, below. Fractional RSUs that constitute less than a single share may be converted to cash or applied as additional income tax withholding at AEP’s option.