SKS » Topics » Restricted Stock Units

This excerpt taken from the SKS DEF 14A filed Apr 24, 2009.

Restricted Stock Units

An RSU is a unit of one or more shares of Common Stock that are not issued until the vesting conditions are satisfied. The terms and conditions of each RSU granted under the Incentive Plan will be specified by the HRCC and set forth in a written agreement. Vesting requirements may be based on the continued service of the Participant for a specified time period or on the attainment of specified business performance goals established by the HRCC. The HRCC may, in its discretion, accelerate the vesting of RSUs. RSUs may be settled in cash or in shares of Common Stock. Participants receiving RSUs will not have any of the rights of a shareholder, except for the right to receive dividend equivalents, which right will be at the sole discretion of the HRCC and, if granted, will provide that such dividend equivalents be accumulated until the vesting conditions have been met. All terms relating to exercise, cancellation, or other disposition of an RSU upon the termination of a Participant’s service for any reason (including disability, retirement, death, or any other reason) will be determined by the HRCC at the time of grant or thereafter by amendment.

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