![]() ![]() Upon a Participant's Termination of Employment by reason of Retirement, any unvested RSUs, other than the Pro Rata RSU Portion, shall be immediately forfeited. ![]() ![]() If this formula results in any fractional RSUs, the Pro Rata RSU Portion will be rounded up to the nearest whole RSU.(vii) Dividend Equivalents. ![]() Upon a Participant’s Termination of Employment by the Company without Cause or by the Participant for Good Reason (including the Termination of Employment of the Participant if he is employed by an Affiliate at the time the Company sells or otherwise divests itself of such Affiliate), a number of RSUs equal to the Pro Rata RSU Portion will become immediately vested as of the date of such termination. If this formula results in any fractional RSUs, the Pro Rata RSU Portion will be rounded up to the nearest whole RSU. Subject to Section (4)(c)(v)(F), upon a Participant’s Termination of Employment by reason of Retirement, with respect to any RSU Installment that is not then vested, subject to the Participant’s execution of a waiver and release of claims in a form and manner satisfactory to the Company, a number of RSUs equal to the Pro Rata RSU Portion will become immediately vested as of the date of such Termination of Employment. Pro Rata RSU Portion has the meaning set forth in Section 4(c)(v)(A). Pro Rata RSU Portion has the meaning set forth in Section 4(c)(v)(A) above. Upon a Participant’s Termination of Employment by reason of Retirement, any unvested RSUs, other than the Pro Rata RSU Portion, shall be immediately forfeited. Upon a Participant’s Termination of Employment by the Company without Cause or by the Participant for Good Reason, any unvested RSUs, other than the Pro Rata RSU Portion, shall be immediately forfeited. the number of calendar months6 from the Grant Date to the date of such Termination of Employment, rounded up for any partial month and (ii) the denominator of which is twelve (12) for the First RSU Installment, twenty-four (24) for the Second RSU Installment and thirty-six (36) for the Third RSU Installment.7Įxamples of Pro Rata RSU Portion in a sentence For example, if an RSU Award covers 1,000 RSUs, the RSU will vest with respect to 334 RSUs under the First RSU Installment and 333 RSUs under each of the Second and Third RSU Installments. For more information, visit Rata RSU Portion means, with respect to any RSU Installment that is not vested at the time of a Participant’s Termination of Employment, the number of RSUs covered by such RSU Installment multiplied by a fraction (i) the numerator of which is _ 5 The number of RSUs subject to each RSU Installment will be equal to the total number of RSUs divided by three provided, that if this formula results in any fractional RSU allocation to any RSU Installment, the number of RSUs in the First RSU Installment and, if necessary, the Second RSU Installment, will be increased so that only full RSUs are covered by each RSU Installment. Members are always in control of their own information, and we never sell member data. CLEAR is committed to privacy done right. Whether you are traveling, at the stadium, or on your phone, CLEAR connects you to the things that make you, you – making everyday experiences easier, more secure, and friction-free. With more than 16 million members and a growing network of partners across the world, CLEAR's identity platform is transforming the way people live, work, and travel. Through the utilization of favorable tax attributes, actual taxes owed were minimized enabling the return of capital to our owners," said Kenneth Cornick, CLEAR's President and Chief Financial Officer.ĬLEAR's mission is to create frictionless experiences. "This dividend is a result of CLEAR's advantageous corporate structure, put in place when we went public. The Company is funding the payment of the special cash dividend from its pro rata share of tax distributions made by its subsidiary, Alclear Holdings, LLC. (NYSE: YOU) ("CLEAR" or the "Company") today announced that a special committee of CLEAR's Board of Directors has approved and declared a special cash dividend in the amount of $0.20 per share, payable on May 25, 2023, to holders of record of Class A Common Stock and Class B Common Stock as of the close of business on May 18, 2023. NEW YORK, /PRNewswire/ - Clear Secure, Inc. ![]()
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