Conversion to Stock. Except as otherwise provided in Section 4, the Units for which the relevant vesting criteria are satisfied will be converted to shares of Stock (the “Conversion”) on the Vesting Date (the “Conversion Date”). The shares of Stock will be registered in the name of Grantee as of the Conversion Date, and certificates for the shares of Stock shall be delivered to Grantee or Grantee’s designee upon request of Grantee after the Conversion.
Appears in 2 contracts
Sources: Performance Share / Restricted Stock Unit Award Agreement (Shore Bancshares Inc), Performance Share / Restricted Stock Unit Award Agreement (Shore Bancshares Inc)