During the three and six months ended June 30, 2016, the Company made the following grants of restricted stock:
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Three Months Ended June 30, 2016 |
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Six Months Ended June 30, 2016 |
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Condition to Become Eligible to Vest |
306,055 |
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1,565,127 |
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Shares vest ratably over a period of twelve quarters beginning on the first day of the second calendar quarter immediately following the grant date. |
55,783 |
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55,783 |
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Shares vest ratably over a period of four quarters beginning on the first day of the calendar quarter immediately following the grant date. |
During the six months ended June 30, 2016, we granted 729,300 shares of restricted stock which require the achievement of certain market-based conditions to become eligible to vest. The shares become eligible to vest based on the achievement of the following conditions:
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Three Months Ended June 30, 2016 |
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Six Months Ended June 30, 2016 |
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Condition to Become Eligible to Vest |
— |
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364,651 |
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After the grant date and prior to July 1, 2019, the average closing price per share of the Company’s common stock equals or exceeds $27.28 for twenty consecutive trading days |
— |
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364,649 |
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After the grant date and prior to July 1, 2019, the average closing price per share of the Company’s common stock equals or exceeds $32.15 for twenty consecutive trading days |
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