Issuance of Performance Shares Sample Clauses
The Issuance of Performance Shares clause defines the conditions under which a company will grant shares to individuals or entities based on the achievement of specific performance targets. Typically, this clause outlines the performance metrics that must be met, the timeline for evaluation, and the number of shares to be awarded if those targets are achieved. By clearly specifying the criteria and process for awarding performance shares, this clause incentivizes desired behaviors and aligns the interests of recipients with the company’s goals, while also providing transparency and predictability in equity compensation.
Issuance of Performance Shares. (a) The Participant’s Performance Share Award is a function of his “Target ▇▇▇ Award” and his “Target ROS Award,” calculated as set forth below. The Participant’s Target ▇▇▇ Award is Shares. The Participant’s Target ROS Award is Shares.
(b) At the end of the Performance Period, the Board (or its permitted delegate) will calculate the Company’s Return on Equity for each of its fiscal years during the Performance Period and divide the sum by that number of years (the “Average ▇▇▇”). “Return on Equity” means (i) the Company’s net after-tax income for the fiscal year in question, divided by (ii) the average of the shareholders’ equity as of the end of the preceding fiscal year and the shareholders’ equity as of the end of the fiscal year in question, in each case as shown in the Company’s audited financial statements (provided that if there is any change in accounting standards used by the Company after the Grant Date, Return on Equity will be calculated without regard to such change). The Participant’s “Threshold ▇▇▇” is 9.3 percent; his “Target ▇▇▇” is 10.7 percent; and his “Maximum ▇▇▇” is 21.4 percent. If, at the end of the Performance Period, the Company’s Average ▇▇▇ is equal to the Threshold ▇▇▇, the Participant will be entitled to receive 50 percent of the Target ▇▇▇ Award; if the Company’s Average ▇▇▇ is equal to the Target ▇▇▇, the Participant will be entitled to receive 100 percent of the Target ▇▇▇ Award; and if the Company’s Average ▇▇▇ is equal to or greater than the Maximum ▇▇▇, the Participant will be entitled to receive 200 percent of the Target ▇▇▇ Award. If the Company’s Average ▇▇▇ is otherwise between the Threshold ▇▇▇ and the Maximum ▇▇▇, the number of Performance Shares that the Participant is entitled to receive will be calculated using a straight-line interpolation. If the Company’s Average ▇▇▇ is less than the Threshold ▇▇▇, the Participant will not be entitled to receive any Shares as part of his Target ▇▇▇ Award. In no event will the Participant be entitled to receive pursuant to this Agreement more than 200 percent of the Target ▇▇▇ Award.
Issuance of Performance Shares. Upon the execution and delivery hereof, the Corporation shall issue and deliver to Executive an aggregate of 117,000 shares (the "Performance Shares") of Common Stock, par value $.01 per share, of the Corporation (the "Common Stock"). The Performance Shares, upon issuance, shall be validly issued and fully paid shares of Common Stock of the Corporation, provided, however, that (i) one-third of the Performance Shares shall be repurchased by the Corporation for the par value thereof in the event that the Corporation does not achieve net income before taxes of at least $1.5 million during the period of April 1, 1995 through Marc▇ ▇▇, ▇▇▇▇, (▇▇) ▇▇▇-third of the Performance Shares shall be repurchased by the Corporation for the par value thereof in the event that the Corporation does not achieve net income before taxes of at least $2.2 million during the period of April 1, 1996 through Marc▇ ▇▇, ▇▇▇▇, (▇▇▇) ▇▇▇-third of the Performance Shares shall be repurchased by the Corporation for the par value thereof in the event that the Corporation does not achieve net income before taxes of at least $3.0 million during the period of April 1, 1997 through March 31, 1998; (iv) all of which Performance Shares shall be repurchased by the Corporation for the par value thereof upon termination of Executive's employment hereunder in the event that Executive's employment shall terminates prior to March 31, 1996; (v) two-thirds of which Performance Shares shall be repurchased by the Corporation for the par value thereof upon termination of Executive's employment hereunder in the event that Executive's employment shall terminate prior to March 31, 1997; and (vi) one-third of which Performance Shares shall be repurchased by the Corporation for the par value thereof upon termination of Executive's employment hereunder in the event that Executive's employment shall terminate prior to March 31, 1998. Net income before taxes, for purposes of the foregoing calculations, will exclude any tax deduction obtained by the
Issuance of Performance Shares. 7.1 Issuance to principals - Performance shares may be issued for cash to the principals of an issuer
(a) to provide the principals with a measure of control to facilitate the development of the issuer in an orderly fashion,
(b) to provide an incentive for the principals to diligently support the affairs of the issuer, and
(c) to provide an incentive for the principals to contribute management services or fundamental assets to the issuer.
7.2 Natural resource issuer - A natural resource issuer may issue to its principals up to a total of 750,000 performance shares, at a minimum price of $.01 per share.
Issuance of Performance Shares. 7.1 Issuance to principals - Performance shares may be issued for cash to the principals of an issuer
(a) to provide the principals with a measure of control to facilitate the development of the issuer in an orderly fashion,
(b) to provide an incentive for the principals to diligently support the affairs of the issuer, and
(c) to provide an incentive for the principals to contribute management services or fundamental assets to the issuer.
Issuance of Performance Shares. (a) The Participant’s Performance Share Award is a function of his “Target ▇▇▇ Award” and his “Target ROS Award,” calculated as set forth below. The Participant’s Target ▇▇▇ Award is _____ Shares. The Participant’s Target ROS Award is ____ Shares.
(b) At the end of the Performance Period, the Board (or its permitted delegate) will calculate the Company’s Return on Equity for each of its fiscal years during the Performance Period and divide the sum by that number of years (the “Average ▇▇▇”). “Return on Equity” means (i) the Company’s net after-tax income for the fiscal year in question, divided by (ii) the average of the shareholders’ equity as of the end of the preceding fiscal year and the shareholders’ equity as of the end of the fiscal year in question, in each case as shown in the Company’s audited financial statements (provided that if there is any change in accounting standards used by the Company after the Grant Date, Return on Equity will be calculated without regard to such change). The Participant’s “Threshold ▇▇▇” is 9.6 percent; his “Target ▇▇▇” is 11.5 percent; and his “Maximum ▇▇▇” is 20.9
Issuance of Performance Shares. The Performance Shares covered by this Agreement shall only result in the issuance of Shares (or cash or a combination of Shares and cash, as decided by the Committee in its sole discretion), after the completion of the Incentive Period and only if such Performance Shares are earned as provided in Section 2.3 of this Article 2.
Issuance of Performance Shares. In the event that the Recipient is deemed to have earned any Performance Shares pursuant to the provisions of Section 2 hereof, a certificate or certificates representing that number of shares of the Common Stock which is equal to one-half (1/2) of the Earned Performance Shares Amount shall be issued in the Recipient's name on or before ________ __, 20__, provided the Recipient has theretofore delivered to the Corporation a stock power signed in blank by the Recipient with respect to such Performance Shares and in a form which is acceptable to the Corporation which may be used by the Corporation to cancel such Performance Shares in accordance with the provisions of the Plan and this Agreement. Upon issuance of the certificate or certificates for such Performance Shares, the Recipient shall be a stockholder with respect to such Performance Shares and, subject to the restrictions contained in Section 5 hereof, shall have all the rights of a stockholder with respect to such Performance Shares, including but not limited to, the right to vote such Performance Shares and to receive dividends and other distributions paid with respect to such Performance Shares. The certificate or certificates representing such Performance Shares, together with the executed stock power, shall be held in custody by the Corporation or an agent therefor pursuant to the provisions of the Plan for the account of the Recipient.
Issuance of Performance Shares. (a) The Participant's Performance Share Award is a function of his "Target ▇▇▇ Award" and his "Target ROS Award," calculated as set forth below. The Participant's Target ▇▇▇ Award is _____ Shares. The Participant's Target ROS Award is _____ Shares.
Issuance of Performance Shares. Performance Shares Awards shall be evidenced in book entry or electronic form, registered in the name of Key Employee, with notations referring to the terms, conditions, and restrictions set forth in this Award Agreement. Such Performance Shares shall be held by the Company until they have vested or been forfeited as provided in this Award Agreement. Shares of Common Stock issued in settlement of any earned Performance Shares shall be issued to Key Employee, free of the restrictions described above, within fifteen (15) days after the Vesting Date.
Issuance of Performance Shares. If you qualify to receive Performance Shares that remain subject to further vesting, the stock certificates evidencing such Shares that will be issued as of the Pricing Date will bear the following legend that shall remain in place and effective until all other vesting restrictions lapse and new certificates are issued pursuant to Section 7(b) below: “The sale or other transfer of the Shares represented by this certificate, whether voluntary, involuntary, or by operation of law, is subject to certain restrictions on transfer set forth in the Capital Trust, Inc. 2011 Long-Term Incentive Plan , and in any rules and administrative procedures adopted pursuant to such Plan and in a related Award Agreement. A copy of the Plan, such rules and procedures and such Award Agreement may be obtained from the Secretary of Capital Trust, Inc.”