Mechanics of Settlement. On the Settlement Date, the Company shall electronically issue to the Director one whole share of Company Common Stock for each Restricted Share Unit that is vested (except as provided in Section 6(a)), and, upon such issuance, the Director’s rights in respect of such Restricted Share Unit shall be extinguished. Except as provided in Section 6(a), in the event that there are any fractional Restricted Share Units that are vested as of such date, such fractional Restricted Share Units shall be rounded down to the nearest whole Share. No fractional shares of Company Common Stock shall be issued.
Appears in 2 contracts
Sources: Restricted Share Unit Agreement (Jackson Financial Inc.), Restricted Share Unit Agreement (Jackson Financial Inc.)