During the three and nine months ended September 30, 2018, we made the following grants of time-based restricted stock:
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Three Months Ended September 30, 2018 |
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Nine Months Ended September 30, 2018 |
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Vesting |
62,196 |
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1,040,640 |
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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. |
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3,600 |
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Shares fully vested on the first day of the calendar quarter immediately following the grant date. |
1,500 |
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35,346 |
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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 nine months ended September 30, 2018, we granted 517,364 shares of restricted stock that become eligible to vest based on the achievement of certain market-based conditions, as described below:
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Three Months Ended September 30, 2018 |
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Nine Months Ended September 30, 2018 |
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Condition to Become Eligible to Vest |
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129,341 |
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After the grant date and prior to July 1, 2021, the average closing price per share of our common stock equals or exceeds $60.89 for twenty consecutive trading days. |
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129,341 |
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After the grant date and prior to July 1, 2021, the average closing price per share of our common stock equals or exceeds $66.98 for twenty consecutive trading days. |
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129,341 |
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After the grant date and prior to July 1, 2021, the average closing price per share of our common stock equals or exceeds $73.07 for twenty consecutive trading days. |
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129,341 |
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After the grant date and prior to July 1, 2021, the average closing price per share of our common stock equals or exceeds $85.24 for twenty consecutive trading days. |
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