Unvested Restricted Stock Units Clause Samples
The Unvested Restricted Stock Units clause defines the treatment of restricted stock units (RSUs) that have not yet vested under an equity compensation plan. Typically, this clause specifies that unvested RSUs are forfeited if the employee leaves the company or if certain conditions are not met, such as continued employment or achievement of performance goals. By clearly outlining the fate of unvested RSUs, the clause ensures both the company and the employee understand their rights and obligations, thereby preventing disputes and aligning incentives.
Unvested Restricted Stock Units. Any Restricted Stock Units that do not vest pursuant to Section 3(a) will automatically be forfeited as of the Close of Business on the Certification Date.
Unvested Restricted Stock Units. Except as otherwise provided in this Section 5, upon the Participant’s Termination of Service for any reason, any portion of the Award in which the Participant has not yet become vested shall be immediately forfeited by the Participant and cancelled, without the payment of consideration.
Unvested Restricted Stock Units. With respect to then-unvested Restricted Stock Units subject to this Award:
(1) If such portion of the Award is not assumed or substituted for as provided in Section 17 of the Plan, such portion of the Award will vest 100% immediately prior to its termination pursuant to Section 17 of the Plan, but the shares of Common Stock (or the per share consideration received by a majority of the holders of such Common Stock in such Transaction) payable to you in connection with this portion of the Award will be delivered to you on the same dates specified in your deferral election and the provisions hereof that apply thereunder (subject to Section 13 hereof), in each case regardless of any acceleration of the vesting of such Restricted Stock Units which may occur in connection with the Transaction.
(2) If such portion of the Award is assumed or substituted for as provided in Section 17 of the Plan, such portion of the Award shall continue to vest in accordance with the terms of this Agreement and the Plan and be delivered to you in accordance with the applicable deferral election and the provisions hereof that apply thereunder (subject to Section 13 hereof).
Unvested Restricted Stock Units. With respect to then-unvested Restricted Stock Units subject to this Award, if such portion of the Award is not assumed or substituted for as provided in Section 17 of the Plan, such portion of the Award will vest 100% immediately prior to its termination pursuant to Section 17 of the Plan, and your shares of Common Stock (or the per share consideration received by a majority of the holders of such Common Stock in such Transaction) payable to you in connection with this portion of the Award will be delivered to you as soon as practicable following the date on which such Transaction is consummated, within sixty (60) days of the consummation of the Transaction (or, if required for compliance with 409A, in accordance with the applicable deferral election and the provisions hereof that apply thereunder), subject to Section 13 hereof. If the Award is assumed or substituted for as provided in Section 17 of the Plan, such portion of the Award shall continue to vest (or remain outstanding if already vested) in accordance with the terms of this Agreement and the Plan and be delivered to you in accordance with the applicable deferral election and the provisions hereof that apply thereunder (subject to Section 13 hereof).
Unvested Restricted Stock Units. At the Effective Time, each Company Restricted Stock Unit and each Company Performance Stock Unit that is outstanding immediately prior to the Effective Time and is held by a Continuing Service Provider and that is solely subject to time-based vesting and is not a Vested Company Unit (each, an “Assumed Unit”), shall be assumed by Parent; provided, however, that each Assumed Unit shall be converted into an award to receive that number of shares of Parent Class A Common Stock equal to the product obtained by multiplying (A) the number of shares of Company Common Stock subject to such Assumed Unit immediately prior to the Effective Time by (B) the Option Exchange Ratio, with the resulting number rounded down to the nearest whole share of Parent Class A Common Stock. Each Assumed Unit shall otherwise be subject to the same terms and conditions (including as to vesting and issuance) as were applicable under the respective Company Restricted Stock Unit or Company Performance Stock Unit immediately prior to the Effective Time. Each Company Restricted Stock Unit and each Company Performance Stock Unit that is outstanding immediately prior to the Effective Time that is not a Vested Company Unit and is held by a Person that is not a Continuing Service Provider shall not be assumed by Parent and by virtue of the Merger and without any action on the part of Parent, Merger Sub, the Company or the holder thereof, shall be cancelled and shall have no further effect following the Effective Time.
Unvested Restricted Stock Units. Fey agrees and acknowledges that on or following the Separation Date he has no rights or interest (including as to future vesting), and hereby waives and forfeits any such rights or interest he may have had, with respect to any unvested restricted stock units (“RSUs”), including (without limitation) any unvested RSUs subject to the awards identified by Grant Numbers BC002402, BC002403, and 1082437.
Unvested Restricted Stock Units. With respect to then-unvested Restricted Stock Units subject to this Award:
(1) If such portion of the Award is not assumed or substituted for as provided in Section 17 of the Plan, such portion of the Award will vest 100% immediately prior to its termination pursuant to Section 17 of the Plan, your deferral of such shares shall cease immediately upon the Transaction and the shares of Common Stock (or the per share consideration received by a majority of the holders of such Common Stock in such Transaction) payable to you in connection with this portion of the Award will be delivered to you as soon as practicable following the date on which such Transaction is consummated (and, subject to the provisions of Section 9, within sixty (60) days of the consummation of the Transaction).
(2) If such portion of the Award is assumed or substituted for as provided in Section 17 of the Plan, such portion of the Award shall continue to vest in accordance with the terms of this Agreement and the Plan and be delivered to you in accordance with the applicable deferral election (subject to Section 9 hereof).
Unvested Restricted Stock Units. Except as provided in Section 5(c), in the event that the Participant’s Continuous Service terminates for any reason, the Participant’s Unvested Restricted Stock Units, including any right to any future Tax Bonus, shall be immediately forfeited, without the payment of consideration.
Unvested Restricted Stock Units. RSUs previously issued to Executive and outstanding as of the Effective Date, which for clarity are set forth below, will continue to vest until Executive’s termination of employment and thereafter subject to the terms and conditions of the applicable agreement. Performance Stock Units: PSUs previously issued to Executive and outstanding as of the Effective Date, which for clarify are set forth below, will continue to vest until Executive’s termination of employment and thereafter subject to the terms and conditions of the applicable agreement, including the applicable performance conditions.