Define: Unvested
those Employee Shares which may be required to be converted into Deferred Shares or to be transferred under Article 19.
those Employee Shares which may be required to be converted into Deferred Shares or to be transferred under Article 19.
Relevant Circumstances
- When a leaver still holds shares or options that have not yet vested
- If unvested awards are being converted, forfeited or repurchased on departure
- Where the treatment of unvested equity on exit needs to be agreed in advance