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PCG » Topics » Settlement of Stock Unit Awards.

This excerpt taken from the PCG 10-K filed Feb 24, 2009.
Settlement of Stock Unit Awards.  A Participant electing to receive an Award of Stock Units pursuant to this Section 12, shall specify at the time of such
 
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election a settlement date with respect to such Award in accordance with rules established by the Committee.  The Company shall issue to the Participant upon the earlier of the settlement date elected by the Participant or the date of the Participant’s Separation from Service, a number of whole shares of Stock equal to the number of whole Stock Units subject to the Stock Unit Award.  Such shares of Stock shall be fully vested, and the Participant shall not be required to pay any additional consideration (other than applicable tax withholding) to acquire such shares.  Any fractional Stock Unit subject to the Stock Unit Award shall be settled by the Company by payment in cash of an amount equal to the Fair Market Value as of the payment date of such fractional share.
 
(iii)           
These excerpts taken from the PCG 10-K filed Feb 22, 2008.
Settlement of Stock Unit Awards.  A Participant electing to receive an Award of Stock Units pursuant to this Section 12, shall specify at the time of such election a settlement date with respect to such Award.  The Company shall issue to the Participant as soon as practicable following the earlier of the settlement date elected by the Participant or the date of termination of the Participant’s Service, a number of whole shares of Stock equal to the number of whole Stock Units subject to the Stock Unit Award.  Such shares of Stock shall be fully vested, and the Participant shall not be required to pay any additional consideration (other than applicable tax withholding) to acquire such shares.  Any fractional Stock Unit subject to the Stock Unit Award shall be settled by the Company by payment in cash of an amount equal to the Fair Market Value as of the payment date of such fractional share.
 
(iii) 
Settlement of Stock Unit
Awards.  A Participant electing to receive an Award of Stock
Units pursuant to this Section 12,
shall specify at the time of such election a settlement date with respect to
such Award.  The Company shall issue to the Participant as soon as
practicable following the earlier of the settlement date elected by the
Participant or the date of termination of the Participant’s Service, a number of
whole shares of Stock equal to the number of whole Stock Units subject to the
Stock Unit Award.  Such shares of Stock shall be fully vested, and the
Participant shall not be required to pay any additional consideration (other
than applicable tax withholding) to acquire such shares.  Any
fractional Stock Unit subject to the Stock Unit Award shall be settled by the
Company by payment in cash of an amount equal to the Fair Market Value as of the
payment date of such fractional share.

 

(iii) 

EXCERPTS ON THIS PAGE:

10-K
Feb 24, 2009
10-K (2 sections)
Feb 22, 2008

RELATED TOPICS for PCG:

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