Initial Awards. Each individual who first becomes an Outside Director following the Effective Date will be granted an award of Options (an “Initial Award”) to purchase a number of Shares having a Value (as defined below) of $758,000, with any resulting fraction rounded down to the nearest whole Share. The Initial Award will be granted automatically on the first Trading Day on or after the date on which such individual first becomes an Outside Director (the first date as an Outside Director, the “Initial Start Date”), whether through election by the Company’s stockholders or appointment by the Board to fill a vacancy. If an individual was a member of the Board and also an employee, becoming an Outside Director due to termination of employment will not entitle the Outside Director to an Initial Award. Each Initial Award will be scheduled to vest as follows: One-thirty sixth (1/36th) of the Shares subject to the Initial Award will be scheduled to vest each month following the grant date, in each case subject to the Outside Director continuing to be a Service Provider through the applicable vesting date.
Initial Awards. Each individual who first becomes an Outside Director following the Effective Date will be granted an award of Options (an “Initial Award”) to purchase a number of Shares having a Value (as defined below) of $758,$440,000, with any resulting fraction rounded down to the nearest whole Share. The Initial Award will be granted automatically on the first Trading Day on or after the date on which such individual first becomes an Outside Director (the first date as an Outside Director, the “Initial Start Date”), whether through election by the Company’s stockholders or appointment by the Board to fill a vacancy. If an individual was a member of the Board and also an employee, becoming an Outside Director due to termination of employment will not entitle the Outside Director to an Initial Award. Each Initial Award will be scheduled to vest as follows: One-thirty sixth (1/36th) of the Shares subject to the Initial Award will be scheduled to vest each month following the grant date, in each case subject to the Outside Director continuing to be a Service Provider through the applicable vesting date.
Initial Awards. Each individual who first becomes an Outside Director following the Effective Date will be granted anAward: An initial, one-time stock option award of Options (an(the “Initial Award”) to purchase 24,000 shares will be granted to each new Outside Director upon his or her election to the Board of Directors, which shall vest in 36 equal monthly installments over three years from the date of grant, provided, however, that all vesting shall cease if the director resigns from the Board of Directors or otherwise ceases to serve as a numberdirector of Shares havingthe Company. The Initial Award shall expire ten years from the date of grant, and shall have a per share exercise price equal to the Fair Market Value (as defined below)in the Company’s 2020 Stock Option and Incentive Plan) of $758,000, with any resulting fraction rounded downthe Company’s common stock on the date of grant. This Initial Award applies only to Outside Directors who are first elected to the nearest whole Share. The Initial Award will be granted automatically on the first Trading Day on or after the date on which such individual first becomes an Outside Director (the first date as an Outside Director, the “Initial Start Date”), whether through election by the Company’s stockholders or appointment by the Board to fill a vacancy. If an individual was a member of the Board and also an employee, becoming an Outside Director due to termination of employment will not entitle the Outside Director to an Initial Award. Each Initial Award will be scheduled to vest as follows: One-thirty sixth (1/36th) of the Shares subjectDirectors subsequent to the Initial Award will be scheduled to vest each month following the grant date, in each case subject to the Outside Director continuing to be a Service Provider through the applicable vesting date.Effective Date.
Initial Awards. Each individual who first becomes an Outside Director following the Effective Date will be granted anAward: An initial, one-time stock option award of Options (an(the “Initial Award”) to purchase a number of Shares having a Value (as defined below) of $758,000, with any resulting fraction rounded down to the nearest whole Share. The Initial Award22,686 shares will be granted automaticallyto each new Outside Director upon his or her election to the Board of Directors, which shall vest as follows: 1/3 on the first Trading Day on or after the date on whichanniversary of such individual first becomes an Outside Director (the first date as an Outside Director, the “Initial Start Date”), whether throughDirector’s election by the Company’s stockholders or appointment byto the Board of Directors, and the remainder ratably in equal monthly installments over the remaining two years, provided, however, that all vesting shall cease if the individual ceases to fillserve as a vacancy. If an individual was a memberdirector of the Company, unless the Board and also an employee, becoming an Outside Director due to termination of employment will not entitleDirectors determines that the Outside Director to an Initial Award. Each Initial Award will be scheduled to vest as follows: One-thirty sixth (1/36th) of the Shares subject to the Initial Award will be scheduled to vest each month following the grant date, in each case subject to the Outside Director continuing to be a Service Provider through the applicable vesting date.
Initial Awards.Award. Each individual who first becomes an Outside Director following the Effectiveeffective date of the Registration Statement (the Registration Date) and following the first annual meeting of the Companys stockholders (an Annual Meeting) following the Registration Date will automatically be granted an award of Options (an “Initial Award”Award (the Initial Award) to purchase a number of Shares having a Value (as defined below) of $758,000, with any resulting fraction rounded down to the nearest whole Share. The Initial Award, which grant will be granted automaticallyeffective on the first Trading Day on or after the date on which such individual first becomes an Outside Director (the first date as an Outside Director, the “Initial Start Date”), whether through election by the Company’s stockholders of the Company or appointment by the Board to fill a vacancy. If an individual wasThe Initial Award will have a Value (as defined below) of $175,000 multiplied by a fraction # the numerator of which is # 12 minus # the number of full months between the date of the last Annual Meeting and the date the Outside Director becomes a member of the Board and also an employee, becoming an Outside Director due# the denominator of which is 12 (with the result rounded down to termination of employment will not entitlethe nearest whole Share). For example, if nine months have lapsed between the last Annual Meeting and the Outside Director to anDirectors start date, his or her Initial Award. EachAward will have a Value of $43,750. The Initial Award will be scheduled to vest as follows: One-thirty sixth (1/36th)comprised solely of the Shares subject to the Initial Award will be scheduled to vest each month following the grant date, in each case subject to the Outside Director continuing to be a Service Provider through the applicable vesting date.Restricted Stock Units.
Initial Awards. Each individual who first becomes an Outside Director following the Effective Date will be granted anAward: An initial, one-time stock option award of Options (an(the “Initial Award”) to purchase a number of Shares having a Value (as defined below) of $758,000, with any resulting fraction rounded down to the nearest whole Share. The Initial Award35,040 shares will be granted automatically onto each new Outside Director upon his or her election to the first Trading Day on or afterBoard of Directors, which shall vest in equal annual installments over three years from the date on which such individual first becomes an Outside Director (the first date as an Outside Director,of grant, provided, however, that all vesting shall cease if the “Initial Start Date”), whether through election bydirector ceases to have a Service Relationship (as defined in the Company’s stockholders or appointment by the Board to fill a vacancy. If an individual was a member of the Board2021 Stock Option and also an employee, becoming an Outside Director due to termination of employment will not entitle the Outside Director to an Initial Award. Each Initial Award will be scheduled to vest as follows: One-thirty sixth (1/36th) of the Shares subject to the Initial Award will be scheduled to vest each month following the grant date, in each case subject to the Outside Director continuing to be a Service Provider through the applicable vesting date.Incentive Plan).
Initial Awards. Each individualAnnual Award. On the first Trading Day immediately following each Annual Meeting of the Company’s stockholders (an “Annual Meeting”) that occurs after the Effective Date, each Outside Director who first becomeshas been serving as an Outside Director followingfor at least six (6) months as of the Effective Datedate of such Annual Meeting automatically will be granted an award of Options (an “Initial“Annual Award”) to purchase a number of Shares having a Value (as defined below) of $758,$379,000, with any resulting fraction rounded down to the nearest whole Share. The Initial Award will be granted automatically on the first Trading Day on or after the date on which such individual first becomes an Outside Director (the first date as an Outside Director, the “Initial Start Date”), whether through election by the Company’s stockholders or appointment by the Board to fill a vacancy. If an individual was a member of the Board and also an employee, becoming an Outside Director due to termination of employment will not entitle the Outside Director to an Initial Award. Each InitialAnnual Award will be scheduled to vest as follows: One-thirty sixth (1/36th)on the earlier of # the one-year anniversary of the Shares subjectdate the Annual Award is granted or # the day prior to the Initial Award will be scheduled to vest each monthdate of the Annual Meeting next following the grant date,date the Annual Award is granted, in each casecase, subject to the Outside Director continuing to be a Service Provider through the applicable vesting date.
Initial Awards. Each individualAnnual Award. On the first Trading Day immediately following each Annual Meeting of the Company’s stockholders (an “Annual Meeting”) that occurs after the Effective Date, each Outside Director who first becomeshas been serving as an Outside Director followingfor at least six (6) months as of the Effective Datedate of such Annual Meeting automatically will be granted an award of Options (an “Initial“Annual Award”) to purchase a number of Shares having a Value (as defined below) of $758,$220,000, with any resulting fraction rounded down to the nearest whole Share. The Initial Award will be granted automatically on the first Trading Day on or after the date on which such individual first becomes an Outside Director (the first date as an Outside Director, the “Initial Start Date”), whether through election by the Company’s stockholders or appointment by the Board to fill a vacancy. If an individual was a member of the Board and also an employee, becoming an Outside Director due to termination of employment will not entitle the Outside Director to an Initial Award. Each InitialAnnual Award will be scheduled to vest as follows: One-thirty sixth (1/36th)on the earlier of # the one-year anniversary of the Shares subjectdate the Annual Award is granted or # the day prior to the Initial Award will be scheduled to vest each monthdate of the Annual Meeting next following the grant date,date the Annual Award is granted, in each casecase, subject to the Outside Director continuing to be a Service Provider through the applicable vesting date.
Initial Awards. Each individual who first becomes an Outside Director following the Effective Date will be granted anAward: An initial, one-time stock option award of Options (an(the “Initial Award”) to purchase 40,000 Class A common shares will be granted to each new Outside Director upon his or her election to the Board of Directors, which shall vest in equal monthly installments over three years from the date of grant, provided, however, that all vesting shall cease if the director ceases to remain in service on the Board, unless the Board of Directors determines that the circumstances warrant continuation of vesting. The Initial Award shall expire ten years from the date of grant, and shall have a number of Shares having aper share exercise price equal to the Fair Market Value (as defined below)in the Company’s 2021 Stock Option and Incentive Plan) of $758,000, with any resulting fraction rounded downthe Company’s Class A common stock on the date of grant. This Initial Award applies only to Outside Directors who are first elected to the nearest whole Share. The Initial Award will be granted automatically on the first Trading Day on or after the date on which such individual first becomes an Outside Director (the first date as an Outside Director, the “Initial Start Date”), whether through election by the Company’s stockholders or appointment by the Board to fill a vacancy. If an individual was a member of the Board and also an employee, becoming an Outside Director due to termination of employment will not entitle the Outside Director to an Initial Award. Each Initial Award will be scheduled to vest as follows: One-thirty sixth (1/36th) of the Shares subjectDirectors subsequent to the Initial Award will be scheduled to vest each month following the grant date, in each case subject to the Outside Director continuing to be a Service Provider through the applicable vesting date.Effective Date.
Initial Awards. Each individual who first becomes an Outside Director following the Effective Date will be granted anAward: An initial, one-time stock option award of Options (an(the “Initial Award”) to purchase 41,000 shares will be granted to each new Outside Director upon his or her election to the Board of Directors, which shall vest in equal annual installments over three years from the date of grant, provided, however, that all vesting shall cease if the director ceases to provide services to the Company in any capacity. The Initial Award shall expire ten years from the date of grant, and shall have a number of Shares having aper share exercise price equal to the Fair Market Value (as defined below)in the Company’s 2021 Stock Option and Incentive Plan) of $758,000, with any resulting fraction rounded down to the nearest whole Share. The Initial Award will be granted automaticallyCompany’s common stock on the first Trading Day on or after the date on which such individual first becomes an Outside Director (the first date as an Outside Director, the “Initial Start Date”), whether through election by the Company’s stockholders or appointment by the Board to fill a vacancy. If an individual was a member of the Board and also an employee, becoming an Outside Director due to termination of employment will not entitle the Outside Director to an Initial Award. Each Initial Award will be scheduled to vest as follows: One-thirty sixth (1/36th) of the Shares subject to the Initial Award will be scheduled to vest each month following the grant date, in each case subject to the Outside Director continuing to be a Service Provider through the applicable vesting date.grant.
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