The new restricted stock unit award for 50,000 units will vest over a period of four years, with 25 percent of the restricted stock units vesting
after one year, and the remainder vesting
in equal quarterly installments thereafter, subject to the grantee's continued employment with Millennial Media on the applicable vesting
Director Number of shares vesting
74,355 Total value of shares
In the share-based payment plan, the award for each vesting
period of a calendar year is based on the fulfilment of the vesting
criteria determined by the Board separately for each vesting
Thus, the trustees decided the participant was not entitled to 100% vesting
on the plan's termination.
If the value were to decline after the vesting
date, some of the value at the time of vesting
might never be taxed.
Under this approach, the completion of the May 2006 tender offer, rather than the December 2005 vesting
acceleration, represents the modification date of the awards.
of the options mentioned in clauses (i) and (ii) will accelerate upon a change of control.
The IRS reasoned that the postponement of the shares' vesting
dates did not cause them to become transferable, nor did it free the employee from the obligation to provide future services.
AMEX:FLT) announced today that the Compensation Committee of its Board of Directors has accelerated the vesting
of unvested stock options previously awarded to employees, officers and directors under the company's equity inventive compensation plans.
A newsletter issued by the IRS's Dallas Key District Office warns plan administrators of two plan practices that may result in violations of the plan qualification rules: (1) disregarding years of service in which an employee does not make elective deferral in determining the vesting
of matching contributions in a Sec.
The shares will vest over a period of five years, with 2,000 shares vesting
on the first anniversary of the effective date of the restricted stock grant agreement, and the remainder vesting
annually over a period of four years.
Any special allocations should take into account the tax effects of the vesting
of the interest as well as the earlier cash distribution.