Total Return comprised
of stock price appreciation plus dividends paid.
The timing and amount of growth in the Fed's balance sheet accounted for 93 %
of stock price appreciation in the current stock bull.
Earnings growth has been the foremost driver
of stock price appreciation throughout the nine - year bull market — but what happens if it slows down?
Not exact matches
In 2010,
stock price appreciation represented 85 %
of the gains made in the market.
Shares that are exchanged by a participant or withheld by Apple to pay the exercise
price of an option or
stock appreciation right granted under the 2014 Plan, as well as any shares exchanged or withheld to satisfy the tax withholding obligations related to any option or
stock appreciation right, will not be available for subsequent awards under the 2014 Plan.
For nonstatutory
stock options and
stock appreciation rights, the participant will recognize ordinary income upon exercise in an amount equal to the difference between the fair market value
of the shares and the exercise
price on the date
of exercise.
In no case, except due to an adjustment to reflect a
stock split or other event referred to under «Adjustments» below, and except for any repricing that may be approved by shareholders, will the plan administrator (1) amend an outstanding
stock option or
stock appreciation right to reduce the exercise
price or base
price of the award, (2) cancel, exchange, or surrender an outstanding
stock option or
stock appreciation right in exchange for cash or other awards for the purpose
of repricing the award, (3) cancel, exchange, or surrender an outstanding
stock option or
stock appreciation right in exchange for an option or
stock appreciation right with an exercise or base
price that is less than the exercise or base
price of the original award, or (4) take any other action that is treated as a repricing under U.S. generally accepted accounting principles.
At this point then yes
price appreciation is secondary bonus and we have an arguement
of how and why Real Estate can be better than Growth
Stocks in some scenarios and for some investors.
The performance goals upon which the payment or vesting
of any Incentive Award (other than Options and
stock appreciation rights) that is intended to qualify as Performance - Based Compensation depends shall relate to one or more of the following Performance Measures: market price of Capital Stock, earnings per share of Capital Stock, income, net income or profit (before or after taxes), economic profit, operating income, operating margin, profit margin, gross margins, return on equity or stockholder equity, total shareholder return, market capitalization, enterprise value, cash flow (including but not limited to operating cash flow and free cash flow), cash position, return on assets or net assets, return on capital, return on inv
stock appreciation rights) that is intended to qualify as Performance - Based Compensation depends shall relate to one or more
of the following Performance Measures: market
price of Capital
Stock, earnings per share of Capital Stock, income, net income or profit (before or after taxes), economic profit, operating income, operating margin, profit margin, gross margins, return on equity or stockholder equity, total shareholder return, market capitalization, enterprise value, cash flow (including but not limited to operating cash flow and free cash flow), cash position, return on assets or net assets, return on capital, return on inv
Stock, earnings per share
of Capital
Stock, income, net income or profit (before or after taxes), economic profit, operating income, operating margin, profit margin, gross margins, return on equity or stockholder equity, total shareholder return, market capitalization, enterprise value, cash flow (including but not limited to operating cash flow and free cash flow), cash position, return on assets or net assets, return on capital, return on inv
Stock, income, net income or profit (before or after taxes), economic profit, operating income, operating margin, profit margin, gross margins, return on equity or stockholder equity, total shareholder return, market capitalization, enterprise value, cash flow (including but not limited to operating cash flow and free cash flow), cash position, return on assets or net assets, return on capital, return on invested
A
stock appreciation right entitles a participant to receive a payment, in cash, common
stock, or a combination
of both, in an amount equal to the difference between the fair market value
of the
stock at the time
of exercise and the exercise
price of the award, which may not be lower than the fair market value
of the Company's common
stock on the day
of grant.
Notwithstanding the foregoing,
Stock Appreciation Rights may be granted with a per Share exercise
price of less than one hundred percent (100 %)
of the Fair Market Value per Share on the date
of grant pursuant to a transaction described in, and in a manner consistent with, Section 424 (a)
of the Code.
Upon exercise
of a
stock appreciation right, the holder
of the award will be entitled to receive an amount determined by multiplying (i) the difference between the fair market value
of a Share on the date
of exercise over the exercise
price by (ii) the number
of exercised Shares.
However, Shares used to pay the exercise
price or purchase
price of an option or
stock appreciation right or to satisfy tax withholding obligations relating to such awards do not become available for future issuance under the 2013 Plan.
Subject to Section 6 and the other terms and conditions
of the Plan, each
Stock Appreciation Right grant will be evidenced by an Award Agreement (which may be in electronic form) that will specify the exercise
price, the term
of the
Stock Appreciation Right, the conditions
of exercise, and such other terms and conditions as the Administrator, in its sole discretion, will determine.
The exercise
price per share
of each
stock appreciation right may not be less than the fair market value
of a Share on the date
of grant, except in certain situations in which we are assuming or replacing
stock appreciation rights granted by another company that we are acquiring.
Shares used to pay the purchase
price or satisfy tax withholding obligations
of awards other than
stock options or
stock appreciation rights become available for future issuance under the 2013 Plan.
Subject to the provisions
of our 2015 Plan, the administrator will determine the other terms
of stock appreciation rights, including when such rights become exercisable and whether to pay any amount
of appreciation in cash, shares
of our Class A common
stock, or a combination thereof, except that the per share exercise
price for the shares to be issued pursuant to the exercise
of a
stock appreciation right must be no less than 100 %
of the fair market value per share on the date
of grant.
The Board or the HRC or the GNC may modify, suspend, or terminate the LTICP but may not, without the prior approval
of our stockholders, make any change to the LTICP that increases the total amount
of common
stock which may be awarded (except to reflect changes in capitalization), increases the individual maximum award limits (except to reflect changes in capitalization), changes the class
of team members or directors eligible to participate, extends the duration
of the LTICP, reduces the exercise
price of or reprices outstanding
stock options or
stock appreciation rights, waives the LTICP's minimum time period requirements for vesting and lapse
of restrictions for restricted
stock or RSRs, or otherwise amends the LTICP in any manner requiring stockholder approval by law or under the NYSE listing requirements.
Consequently, investors may need to rely on sales
of our common
stock after
price appreciation, which may never occur, as the only way to realize any future gains on their investment.
The committee may deem that a holder
of options or
stock appreciation rights has exercised such options or rights on the expiration date using a net share settlement method
of exercise if, on that expiration date, the options or rights are vested and the exercise
price is less than the then fair market value
of the Shares.
In addition, in connection with the termination
of the 2014 Plan upon a sale event, we may make or provide for a cash payment to participants holding vested and exercisable options and
stock appreciation rights equal to the difference between the per share cash consideration payable to stockholders in the sale event and the exercise
price of the options or
stock appreciation rights.
Notwithstanding the authority
of the committee under the Plan, except in connection with any corporate transaction involving Walmart, the terms
of outstanding plan awards may not be amended to reduce the exercise
price of outstanding
stock options or
stock appreciation rights or cancel outstanding
stock options or
stock appreciation rights in exchange for cash, other plan awards or
stock options or
stock appreciation rights with an exercise
price that is less than the exercise
price of the original
stock options or
stock appreciation rights without the prior approval
of Walmart stockholders.
After years
of rapid growth and
stock price appreciation, New Century Financial Corporation, one
of the largest subprime loan originators in the U.S.,...
(5) Except in connection with a corporate transaction involving the Company (including, without limitation, any
stock dividend,
stock split, extraordinary cash dividend, recapitalization, reorganization, merger, consolidation, split - up, spin - off, combination, or exchange
of shares), the terms
of outstanding awards may not be amended to reduce the exercise
price of outstanding Options or
stock appreciation rights or cancel outstanding Options or
stock appreciation rights in exchange for cash, other awards or Options or
stock appreciation rights with an exercise
price that is less than the exercise
price of the original Options or
stock appreciation rights without stockholder approval.
Each
Stock Appreciation Right grant will be evidenced by an Award Agreement that will specify the exercise
price, the term
of the
Stock Appreciation Right, the conditions
of exercise, and such other terms and conditions as the Administrator, in its sole discretion, will determine.
The plan administrator determines the purchase
price or strike
price for a
stock appreciation right, which generally can not be less than 100 %
of the fair market value
of our Class A common
stock on the date
of grant.
Subject to the provisions
of our 2016 Plan, the administrator determines the other terms and conditions
of stock appreciation rights, including when such rights become exercisable and whether to pay any increased
appreciation in cash or with shares
of our common
stock, or a combination thereof, except that the per share exercise
price for the shares to be issued pursuant to the exercise
of a
stock appreciation right will be no less than 100 %
of the fair market value per share on the date
of grant.
Stock appreciation rights provide for a payment, or payments, in cash or shares of our Class A common stock, to the holder based upon the difference between the fair market value of our Class A common stock on the date of exercise and the stated exercise price at grant up to a maximum amount of cash or number of sh
Stock appreciation rights provide for a payment, or payments, in cash or shares
of our Class A common
stock, to the holder based upon the difference between the fair market value of our Class A common stock on the date of exercise and the stated exercise price at grant up to a maximum amount of cash or number of sh
stock, to the holder based upon the difference between the fair market value
of our Class A common
stock on the date of exercise and the stated exercise price at grant up to a maximum amount of cash or number of sh
stock on the date
of exercise and the stated exercise
price at grant up to a maximum amount
of cash or number
of shares.
All
stock options and
stock appreciation rights will have an exercise
price equal to at least the fair market value
of our common
stock on the date the
stock option or
stock appreciation right is granted, except in certain situations in which we are assuming or replacing options granted by another company that we are acquiring.
Subject to the provisions
of our 2010 Plan, the administrator determines the terms
of stock appreciation rights, including when such rights vest and become exercisable and whether to settle such awards in cash or with shares
of our common
stock, or a combination thereof, except that the per share exercise
price for the shares to be issued pursuant to the exercise
of a
stock appreciation right will be no less than 100 %
of the fair market value per share on the date
of grant.
Subject to the provisions
of our 2013 Plan, the administrator determines the other terms
of stock appreciation rights, including when such rights become exercisable and whether to pay any increased
appreciation in cash or with shares
of our common
stock, or a combination thereof, except that the per share exercise
price for the shares to be issued pursuant to the exercise
of a
stock appreciation right will be no less than 100 %
of the fair market value per share on the date
of grant.
Upon exercise
of a
stock appreciation right, the participant will receive payment from the Company in an amount determined by multiplying (a) the difference between (i) the fair market value
of a share on the date
of exercise and (ii) the exercise
price times (b) the number
of shares with respect to which the
stock appreciation right is exercised.
The exercise
price must be at least equal to the fair market value
of our common
stock on the date the
stock appreciation right is granted.
to reduce the
price per share
of any outstanding option or
stock appreciation right granted under the 2014 Plan; or
In the event
of a change
of control (as defined in the plan), the compensation committee may, in its discretion, provide for any or all
of the following actions: (i) awards may be continued, assumed, or substituted with new rights, (ii) awards may be purchased for cash equal to the excess (if any)
of the highest
price per share
of common
stock paid in the change in control transaction over the aggregate exercise
price of such awards, (iii) outstanding and unexercised
stock options and
stock appreciation rights may be terminated, prior to the change in control (in which case holders
of such unvested awards would be given notice and the opportunity to exercise such awards), or (iv) vesting or lapse
of restrictions may be accelerated.
In no case (except due to an adjustment to reflect a
stock split or other event referred to under «Adjustments» below, and except for any repricing that may be approved by shareholders) will the plan administrator (1) amend an outstanding
stock option or
stock appreciation right to reduce the exercise
price or base
price of the award, (2) cancel, exchange, or surrender an outstanding
stock option or
stock appreciation right in exchange for cash or other awards for the purpose
of repricing the award, or (3) cancel, exchange, or surrender an outstanding
stock option or
stock appreciation right in exchange for an option or
stock appreciation right with an exercise or base
price that is less than the exercise or base
price of the original award.
Stock appreciation rights provide for a payment, or payments, in cash or shares of our common stock, to the holder based upon the difference between the fair market value of our common stock on the date of exercise and the stated exercise price of the stock appreciation r
Stock appreciation rights provide for a payment, or payments, in cash or shares
of our common
stock, to the holder based upon the difference between the fair market value of our common stock on the date of exercise and the stated exercise price of the stock appreciation r
stock, to the holder based upon the difference between the fair market value
of our common
stock on the date of exercise and the stated exercise price of the stock appreciation r
stock on the date
of exercise and the stated exercise
price of the
stock appreciation r
stock appreciation right.
In particular, AIC payments, LTI payments and
stock options represent a significant portion
of our executive compensation program, as shown by the chart below, and this variable compensation is «at risk» and directly dependent upon the achievement
of pre-established corporate goals and
stock price appreciation:
As a result, the financial opportunity in our equity rewards program is best realized through long - term
appreciation of our
stock price, which mitigates excessive short - term risk - taking.
The exercise
price of a
stock appreciation right will be established by the plan administrator and may not be less than 100 %
of the fair market value
of a share on the date
of grant.
As usual, I don't place too much emphasis on this sort
of forecast, but to the extent that I make any comments at all about the outlook for 2006, the bottom line is this: 1) we can't rule out modest potential for
stock appreciation, which would require the maintenance or expansion
of already high
price / peak earnings multiples; 2) we also should recognize an uncomfortably large potential for market losses, particularly given that the current bull market has now outlived the median and average bull, yet at higher valuations than most bulls have achieved, a flat yield curve with rising interest rate pressures, an extended period
of internal divergence as measured by breadth and other market action, and complacency at best and excessive bullishness at worst, as measured by various sentiment indicators; 3) there is a moderate but still not compelling risk
of an oncoming recession, which would become more
of a factor if we observe a substantial widening
of credit spreads and weakness in the ISM Purchasing Managers Index in the months ahead, and; 4) there remains substantial potential for U.S. dollar weakness coupled with «unexpectedly» persistent inflation pressures, particularly if we do observe economic weakness.
Bull markets tend to be characterized by investor optimism and expectations
of future
stock price appreciation.
That said, buy - and - hold investors will need to proceed cautiously, as the healthy share -
price gains already racked up across much
of the industry leave most
of the railroad
stocks with below - average
appreciation potential to 2017 - 2019.
If they bought and held a Topix ETF (Japanese
stocks) instead, they would earn a current dividend yield
of 2.37 percent per year, not including any gains from potential
appreciation in the share
prices.
That means there are a number
of possibilities in the financial world among companies raising or restoring dividends to find potential opportunities for dividend yield along with
stock -
price appreciation.
The Administrator determines the exercise
price of options and
stock appreciation rights at the time the award is granted.
A
stock appreciation right entitles the recipient to receive an amount equal to the excess
of the fair market value
of a share on the date
of exercise over the exercise
price thereof.
(gg) «
Stock Appreciation Right» or «SAR» means a right granted under Section 8 which entitles the recipient to receive an amount equal to the excess
of the Fair Market Value
of a Share on the date
of exercise
of the
Stock Appreciation Right over the exercise
price thereof on such terms and conditions as are specified in the agreement or other documents evidencing the Award (the «SAR Agreement»).
«To the point where competition among the Oil Marketing Companies remains high, market
price for both Brent crude and refined oil dropping in average
price terms, added to the
appreciation of the Cedi against the U.S. dollar, and increasing national fuel
stock; the Institute for Energy Security (IES) believe that there is enough positive momentum and fundamental justification to move the
prices of Petrol and Diesel lower on the local market,» IES said in a release signed by Gilbert Richmond Rockson, Principal Research Analyst.
Stocks of newer companies in emerging industries are often especially attractive to growth investors because
of their greater potential for expansion and
price appreciation despite the higher risks involved.