Vesting Criteria Sample Clauses

Vesting Criteria. The Grantee’s interest in the Shares shall vest in accordance with the vesting schedule set forth below in this Section 3(a) (each such vesting date, a “Vesting Date”) only if the Return on Equity for the fiscal year ending March 31, 2021 is at least 10.0% (the “Performance Criteria”); provided, that the percentage of Shares that will be earned shall be based on the following: Criteria Shares Earned > 20.0% 100.0% 15.0% 83.3% 10.0% 66.7% ; provided, further, that the exact percentage of Shares earned shall be calculated based on straight-line interpolation between the points shown above with fractional points rounded up to the nearest tenth of a percent. After the end of the Performance Period, the Compensation Committee shall certify whether and to what extent the Performance Criteria has been satisfied (“Certification Date”) (such earned Shares shall then be considered “Earned But Unvested Shares” hereunder). Such Earned But Unvested Shares shall vest one-fourth on the seventh business day following the Certification Date and then ratably on the next three Service Vesting Dates. Prior to the Certification Date, all Shares shall be considered “unvested Shares.” If the Performance Criteria has not been satisfied then the Shares shall be immediately and automatically forfeited. Upon the Certification Date, any portion of the Shares that are not earned in accordance with the provisions above shall be forfeited.

Vesting Criteria. The PSU Award shall vest, and the applicable number of shares of Common Stock shall be issuable and/or deliverable to the Participant, according to the service and performance vesting criteria set forth above (the “Vesting Criteria”). If application of the Vesting Criteria results in the vesting of a fractional PSU, such fractional PSU shall be rounded down to the nearest whole PSU (it being understood that fractional PSUs resulting from application of the Financial Performance Goal Payout Percentage shall be included when multiplying PSUs against the rTSR Modifier Percentage). Earned PSUs that vest and are issuable and/or deliverable hereunder as shares of Common Stock pursuant to the Vesting Criteria are “Vested PSUs.”

Vesting Criteria. The RSU Award shall vest, and the applicable number of shares of Common Stock shall be issuable and/or deliverable to the Participant, according to the vesting criteria set forth above (the “Vesting Criteria”). If application of the Vesting Criteria results in the vesting of a fractional RSU, such fractional RSU shall be rounded down to the nearest whole RSU. RSUs that vest and are issuable and/or deliverable hereunder as shares of Common Stock pursuant to the Vesting Criteria are “Vested RSUs.”

Vesting Criteria. The number of mPRSUs vested shall be determined based on the Percentile Rank as set forth in the table below, but up to a maximum of 100% of the Target Number of mPRSUs if the Company’s TSR is negative. Results are to be linearly interpolated between the stated percentiles and percentages. 75th percentile and above 150% 50th percentile 100% 25th percentile 50% Less than 25th percentile 0% o Target Number of mPRSUs is vested if the Percentile Rank equals the 50th percentile o Number of mPRSUs vested increases by 2% of target for each one percentile by which the Percentile Rank exceeds the 50th percentile o Number of mPRSUs vested decreases by 2% of target for each one percentile by which the Percentile Rank trails the 50th percentile o The result of the Vesting Criteria is rounded down to the nearest whole number (50-trading day average closing price as of the last trading day of the Performance Period –50-trading day average closing price on the trading day immediately prior to the beginning of the Performance Period) ÷ (50-trading day average closing price on the trading day immediately prior to the beginning of the Performance Period) x 100 The TSR calculation assumes any dividends paid on common stock are reinvested on the ex-dividend date. In the event of a Triggering Event, the closing price of the Company’s common stock as of the closing date of the Triggering Event is used to convert the sum of the “performance pro rata” and “target pro rata” number of Shares into the Cash Award.

Vesting Criteria. The Grantee’s interest in the Shares shall vest in full as of the earlier of (i) Grantee’s Retirement or (ii) Grantee’s death (as applicable, the “Vesting Date”). Prior to the Vesting Date, all Shares shall be unvested Shares.

Vesting Criteria. The Grantee’s interest in the Shares shall vest on the date designated (a "Vesting Date") in accordance with the following vesting schedule (the "Vesting Schedule"):

Vesting Criteria. 1.1. This Option, and the Option Shares that may be purchased hereunder, shall vest with respect to one-thirty-sixth (1/36th) of the aggregate number of Option Shares on the first day of each calendar month immediately following Date of Issuance, subject to modification as provided in the Employment Agreement. The portion of this Option that shall have so vested and become exercisable is referred to herein as the “Vested Option.” 1.2. Notwithstanding the foregoing, upon a termination of the Registered Holder’s employment with the Company under certain circumstances (i) following a Change in Control of the Company (as such term is defined in the Employment Agreement), the further vesting of this Option may be modified and (ii) not following a Change in Control of the Company, the further vesting of this Option shall expire and become void and shall no longer be exercisable, in each case as set forth in the Employment Agreement. Further, upon a termination of the Registered Holder’s employment with the Company, the Vested Option may be required to be exercised, if at all, within the time periods set forth in the Employment Agreement.

Vesting Criteria. The shares of Common Stock covered by this Option (“Option Shares”) shall vest in accordance with the vesting schedule set forth below in this Section 2 (each such vesting date, a “Vesting Date”) only if the Return on Equity for the fiscal year ending March 31, 2021 is at least 10.0% (the “Performance Criteria”); provided, that the percentage of Option Shares that will be earned shall be based on the following: Performance Percentage of Criteria Options Earned > 20.0% 100.0% 15.0% 83.3% 10.0% 66.7% ; provided, further, that the exact percentage of Option Shares earned shall be calculated based on straight-line interpolation between the points shown above with fractional points rounded up to the nearest tenth of a percent. After the end of the Performance Period, the Compensation Committee shall certify whether and to what extent the Performance Criteria has been satisfied (“Certification Date”). If the Performance Criteria has not been satisfied then the Option Shares shall be immediately and automatically forfeited. Upon the Certification Date, any portion of the Option Shares that are not earned in accordance with the provisions above shall be forfeited.

Vesting Criteria. The Grantee’s interest in the Shares shall vest only: (i) if the Grantee has been in continuous service as a director of the Company from the Award Date through the Service Date (“Service Condition”); and (ii) in accordance with the vesting timing set forth below in this Section 3(a) (“Vesting Date”). After the end of the Service Period, the Compensation Committee shall certify whether the Service Condition has been satisfied (“Certification Date”). If the Service Condition has been satisfied then the earned Shares shall be considered “Earned But Unvested Shares.” Such Earned But Unvested Shares shall vest as soon as administratively possible following the earlier of (i) Grantee’s Retirement or (ii) Grantee’s death. Prior to the Certification Date, all Shares shall be considered “Unvested Shares.” If the Service Condition has not been satisfied then the Shares shall be immediately and automatically forfeited.