Deferred Stock Grant Clause Samples
A Deferred Stock Grant clause outlines the terms under which an individual will receive company stock at a future date rather than immediately. Typically, this clause specifies the conditions that must be met before the stock is granted, such as continued employment or achievement of certain performance milestones, and details the schedule for when the stock will actually be issued. The core function of this clause is to incentivize long-term commitment and performance by aligning the recipient’s interests with the company’s success, while also allowing the company to manage the timing and impact of equity distribution.
Deferred Stock Grant. Conditioned upon and in consideration of Executive’s employment through the dates set forth immediately below, and subject to the provisions regarding termination payments in Section 6(g), the following shares of fully vested and transferable stock will be issued to Executive pursuant to the Company’s 2004 Long-Term Incentive under the following schedule:
a. 0 shares issued in 2006 & 2007;
Deferred Stock Grant. The Deferred Stock Grant (as set forth in Section 2.2(e) below).
Deferred Stock Grant. The Company hereby grants to each Director [___] shares of deferred common stock units (each unit being equivalent to one share of the Company's common stock, no par value ("Common Stock") and referred to herein as a "Unit", and collectively as "Units"). The grant of the Units is subject to the following vesting, distribution and other requirements:
A. The Units will vest in full after one year from the Grant Date, as long as the Director continuously serves on the Board, subject to the termination of service provisions set forth below.
B. After the Units have vested, actual shares of Common Stock will be distributed in exchange for Units on the later of (i) six (6) months from a Director's termination of service on the Board, and (ii) the date or dates elected pursuant to The St. Paul Travelers Companies, Inc. Deferred Compensation Plan For Non-Employee Directors (the "Directors Deferred Plan").
C. Upon termination of a Director's service on the Board, other than for death, Unit grants, to the extent not then vested, will continue to vest. Actual shares of Common Stock will be distributed at the end of the vesting period, or six months following Board service termination, whichever is later, or according to any election made pursuant to the Directors Deferred Plan.
D. If a Director dies, unvested Units will vest immediately, and shares of Common Stock will be distributed to the Director's estate as soon as practicable thereafter.
E. If the Company declares a cash dividend on the Common Stock, then dividend equivalents attributable to Units will be automatically granted and deemed reinvested in additional Units as of the last day of the quarter in which the dividend was declared. The number of dividend equivalent Units shall equal the cash dividend equivalent divided by the closing price of the Common Stock on the New York Stock Exchange ("NYSE") on the dividend payment date.
Deferred Stock Grant. The annual deferred stock grant shall be credited, quarterly, in the form of Stock Equivalents, to Director's deferred compensation account hereunder, as provided in subparagraph 4(b).
Deferred Stock Grant. The Purchaser shall provide 192,000 shares of Purchaser Common Stock to the Seller at the Deferred Payment Date (the “Deferred Stock Grant”). Notwithstanding the foregoing or anything else in this Agreement to the contrary, the Deferred Stock Grant shall be paid 100% in cash: (i) immediately upon the de-listing of the Purchaser Common Stock from the Alternative Investment Market of the London Stock Exchange (the “AIM”) (or such United States securities exchange or market on which the Purchaser Common Stock is then listed for trading or quoted); (ii) immediately upon a Change in Control of the Purchaser or the Company occurring prior to the Deferred Payment Date; or (iii) on the Deferred Payment Date if the Purchaser is unable for any reason to provide the Deferred Stock Grant pursuant hereto on the Deferred Payment Date. The value of a share of Purchaser Common Stock for purposes of this Section 2.2(e) shall be equal to the closing price per share of the Purchaser Common Stock on the AIM (or such United States securities exchange or market on which the Purchaser Common Stock is then listed for trading or quoted) on the Closing Date.
Deferred Stock Grant. The Purchaser shall provide 192,000 shares of common stock, par value $0.0001 per share (“Purchaser Common Stock”), of the Purchaser to the Seller on date of the execution of the Amendment.
3. Section 2.7 of the Purchase Agreement is hereby amended and restated in its entirety to read as follows:
Deferred Stock Grant