Shareholder meeting Shoutbox will be open at 1030h EST
May 28, 2021 8:22:51 GMT -5
mytakeonit likes this
Post by peppy on May 28, 2021 8:22:51 GMT -5
190,092 - (1)(2)
226,000 - (3)
Explanation of Responses:
1. Each restricted stock unit represents a contingent right to receive one share of MNKD common stock.
2. Acquired pursuant to a Restricted Stock Unit Award: 25% vest on each year annivesary of the vesting determination date and 25% each anniversary thereafter; shares shall fully vest on the fourth year anniversary of the vesting determination date.
3. The restricted stock unit will vest on May 17, 2024 provided that the closing price of MannKind common stock on such vesting date is not less than the closing price on May 17, 2021. The number of shares delivered on the vesting date, as a percentage of the target specified in Box 4 above, is determined by the percentile ranking of MannKind total shareholder return (TSR) over the period from May 18, 2021 until May 17, 2024 relative to the TSR of the Russell 3000 Pharmaceutical & Biotechnology Index over the same period, as follows: less than 25th percentile=0% of target, 25th percentile=50% of target, 50th percentile=100% of target, 75th percentile=200% percent of target, 90th percentile or higher=300% maximum. Payout values will be interpolated between the percentile rankings above.
190K shares are going to fully to be fully vested in 4 years.
226K will fully vest in 3 years but also are conditional based on performance related to stock price by 2024. From 0% to 300%. So, he has to earn those...
When I saw the share amount I was shocked.