Initial Grant of Restricted Stock Units Clause Samples

The Initial Grant of Restricted Stock Units clause defines the terms under which an individual is awarded a specific number of restricted stock units (RSUs) as part of their compensation or incentive package. Typically, this clause outlines the number of RSUs granted, the grant date, and any conditions that must be met for the grant to become effective, such as board approval or commencement of employment. Its core practical function is to formally document the initial equity award, ensuring both parties understand the scope and conditions of the grant, thereby providing clarity and reducing the risk of future disputes regarding equity compensation.
Initial Grant of Restricted Stock Units. Immediately subsequent to the filing of a Form S-8 by Parent, which filing shall be made by Parent as soon as reasonable possible after the Closing Date, Parent shall grant an award of restricted stock units in respect of 200,000 shares of Parent Stock, which shall be subject to the terms and conditions of the ▇▇▇▇ Health, Inc. 2021 Plan and an equity award agreement substantially in the form of the Restricted Stock Unit Award Agreement attached hereto as Exhibit D.
View SourceView Similar (2)
Initial Grant of Restricted Stock Units. Immediately subsequent to the filing of a Form S-8 by the Company, which filing shall be made by the Company as soon as practicable after the Effective Date, the Company shall grant Executive an award of restricted stock units in respect of shares of Stock (“RSUs”) with an aggregate value of US$507,500 based on the closing price of the Stock on the Applicable Exchange (as defined in the 2021 Plan) on the grant date or, if there were no sales on such date, on the closest preceding date on which there were sales of shares of Stock, rounded down to the nearest share of Stock, which shall be subject to the terms and conditions of the 2021 Plan and an equity award agreement to be entered into between the Company and Executive as of such grant date. The initial grants covered by Sections 2.03(a) and (b) of this Agreement are referred to collectively herein as the “Initial Grants”.
View Source
Initial Grant of Restricted Stock Units. Effective upon the consummation of the transactions contemplated by the Business Combination Agreement (the “Closing Date”) and immediately subsequent to the filing of a Form S-8 by Parent, which filing shall be made by the Company as soon as reasonably possible after the Closing Date, the Executive will receive a grant of restricted stock units (the “Initial Restricted Stock Units”) for a number of shares of class A common stock of Parent (“Parent Stock”) with an aggregate value of $5,000,000 based on the closing price of one share of Parent Stock as of the Effective Date. The Initial Restricted Stock Units will be subject to the terms and conditions of the ▇▇▇▇ Health, Inc. 2021 Stock Option and Incentive Plan (the “2021 Plan”) then in effect and the applicable equity award agreement (the “Equity Documents”), and shall be subject to time-based vesting over four years whereby 25% of the Initial Restricted Stock Units shall vest on each annual anniversary of the Effective Date, subject to the Executive’s continued employment with the Company at each vesting date, such that the Initial Restricted Stock Units shall be fully vested upon the fourth (4th) anniversary of the Effective Date.
View Source
Initial Grant of Restricted Stock Units. Effective upon the consummation of the transactions contemplated by the Business Combination Agreement (the “Closing Date”) and immediately subsequent to the filing of a Form S-8 by Parent, which filing shall be made by the Company as soon as reasonably possible after the Closing Date, the Executive will receive a grant of restricted stock units (the “Initial Restricted Stock Units”) for a number of shares of class A common stock of Parent (“Parent Stock”) with an aggregate value of $5,000,000 based on the closing price of one share of Parent Stock as of the Effective Date. The Initial Restricted Stock Units will be subject to the terms and conditions of the ▇▇▇▇ Health, Inc. 2021 Stock Option and Incentive Plan then in effect and the applicable equity award agreement (the “Equity Documents”),
View Source
Initial Grant of Restricted Stock Units. As a material inducement to Executive accepting employment with the Company, the Company will recommend to the Committee that it grant Executive 200,000 Restricted Stock Units (the “New Hire RSUs”) as Executive’s initial new hire grant. The New Hire RSUs will be scheduled to vest as to one third of the total number of units on the first market trading day on or after each of three anniversaries of the grant date, subject to Executive’s continued service with the Company through each such vesting date. The New Hire RSUs will be subject to the terms, definitions, and conditions, including vesting requirements, of the Company’s 2022 Equity Incentive Plan (the “2022 Equity Plan”) and/or the Company’s 2018 Inducement Plan (the “2018 Inducement Plan”) and a restricted stock unit agreement between Executive and the Company (the “New Hire RSU Agreement”), both of which are incorporated herein by reference. No right to any stock is earned or accrued until such time that vesting occurs, nor does the ▇▇▇▇▇ ▇▇▇▇▇▇ any right to continued vesting or employment.
View Source
Initial Grant of Restricted Stock Units. Immediately subsequent to the filing of a Form S-8 by the Company, which filing shall be made by the Company as soon as practicable after the Effective Date, the Company shall grant Executive an award of restricted stock units in respect of shares of Stock (“RSUs”) with an aggregate value of US$1,600,000 based on the closing price of the Stock on the Applicable Exchange (as defined in the 2021 Plan) on the date of grant of such RSUs, which shall be subject to the terms and conditions of the 2021 Plan and an equity award agreement to be entered into between the Company and Executive on the Effective Date. The initial grants covered by Sections 2.03(a) and (b) of this Agreement are referred to collectively herein as the “Initial Grants”.
View Source
Initial Grant of Restricted Stock Units. The Company will recommend to the Committee that it grant Executive Restricted Stock Units (the “New Hire RSUs”) equal in value to Two Million Five Hundred Thousand Dollars ($2,500,000) as Executive’s initial new hire grant. It will be recommended that the number of New Hire RSUs Executive receives will be determined by dividing the value amount by the average closing price of a share of Company Common Stock for the 30-day period prior to the grant approval date. The New Hire RSUs will be scheduled to vest as to one third of the total number of units on the first market trading day on or after each of three anniversaries of the grant date, subject to Executive’s continued service with the Company through each such vesting date. The New Hire RSUs will be subject to the terms, definitions, and conditions, including vesting requirements, of the Company’s 2013 Equity Incentive Plan (the “2013 Equity Plan”) and/or the Company’s 2018 Inducement Plan (the “2018 Inducement Plan”) and a restricted stock unit agreement between Executive and the Company (the “New Hire RSU Agreement”), both of which are incorporated herein by reference. No right to any stock is earned or accrued until such time that vesting occurs, nor does the ▇▇▇▇▇ ▇▇▇▇▇▇ any right to continued vesting or employment.
View Source
Initial Grant of Restricted Stock Units. The Company hereby grants to the Participant an Award of restricted stock units (each, a “Restricted Stock Unit”), on the terms and conditions set forth in the Plan and this Award Agreement, subject to adjustment as set forth in the Plan.
View Source

Related to Initial Grant of Restricted Stock Units

  • Grant of Restricted Stock Units The Corporation hereby awards to the Participant, as of the Award Date, Restricted Stock Units under the Plan. Each Restricted Stock Unit represents the right to receive one share of Common Stock on the date that unit vests in accordance with the express provisions of this Agreement. The number of shares of Common Stock subject to the awarded Restricted Stock Units, the applicable vesting schedule for those shares, the dates on which those vested shares shall become issuable to Participant and the remaining terms and conditions governing the award (the “Award”) shall be as set forth in this Agreement.

  • Grant of Restricted Stock Award The Restricted Stock Award will be in the form of issued and outstanding shares of Stock that will be either registered in the name of the Participant and held by the Company, together with a stock power executed by the Participant in favor of the Company, pending the vesting or forfeiture of the Restricted Stock, or registered in the name of, and delivered to, the Participant. Notwithstanding the foregoing, the Company may in its sole discretion, issue Restricted Stock in any other format (e.g., electronically) in order to facilitate the paperless transfer of such Awards. If certificated, the certificates evidencing the Restricted Stock Award will bear a legend restricting the transferability of the Restricted Stock. The Restricted Stock awarded to the Participant will not be sold, encumbered hypothecated or otherwise transferred except in accordance with the terms of the Plan and this Agreement.

  • Grant of Restricted Stock Unit Award The Company hereby grants to the Participant, as of the Grant Date specified above, the number of RSUs specified above. Except as otherwise provided by the Plan, the Participant agrees and understands that nothing contained in this Agreement provides, or is intended to provide, the Participant with any protection against potential future dilution of the Participant’s interest in the Company for any reason, and no adjustments shall be made for dividends in cash or other property, distributions or other rights in respect of the shares of Common Stock underlying the RSUs, except as otherwise specifically provided for in the Plan or this Agreement.

  • Grant of Restricted Share Units The Company hereby grants to the Participant [ ] restricted share units (the “RSUs”), subject to all of the terms and conditions of this RSU Award Agreement and the Plan.

  • Grant of Restricted Stock Pursuant to, and subject to, the terms and conditions set forth herein and in the Plan, the Board of Directors hereby grants to the Participant 2,500 restricted shares (the “Restricted Stock”) of common stock of the Company, par value $0.01 per share (“Common Stock”).