Define: Exchange Program
What does "Exchange Program" mean? The meaning differs based on the contract. We found 6 definitions across 5 companies in SEC filings.
Definition 1 (Salesforce, Inc., seen in 1 filing)
Exchange Program means a program under which (i) outstanding awards are surrendered or cancelled in exchange for awards of the same type (which may have higher or lower exercise prices and different terms), awards of a different type, or cash, (ii) Participants would have the opportunity to participate in an Award Transfer Program, or (iii) the exercise price of an outstanding Award is reduced.
Source: Salesforce, Inc. 10-Q
Definition 2 (Salesforce, Inc., seen in 1 filing)
Exchange Program means a program under which (i) outstanding awards are surrendered or cancelled in exchange for awards of the same type (which may have higher or lower exercise prices and different terms), awards of a different type, and or cash, (ii) Participants would have the opportunity to participate in an Award Transfer Program, and or (iii) the exercise price of an outstanding Award is reduced. The Administrator will determine the terms and conditions of any Exchange Program in its sole discretion.
Source: Salesforce, Inc. 8-K
Definition 3 (Arista Networks, Inc., seen in 1 filing)
Exchange Program means a program under which (i) outstanding Awards are surrendered or cancelled in exchange for Awards of the same type (which may have higher or lower exercise prices and different terms), Awards of a different type, and/or cash, (ii) Participants would have the opportunity to transfer any outstanding Awards to a financial institution or other person or entity selected by the Administrator, and/or (iii) the exercise price of an outstanding Award is reduced or increased. The Administrator will determine the terms and conditions of any Exchange Program in its sole discretion.
Source: Arista Networks, Inc. S-1
Definition 4 (Meta Platforms, Inc., seen in 1 filing)
Exchange Program means a program pursuant to which outstanding Awards are surrendered, cancelled or exchanged for cash, the same type of Award or a different Award (or combination thereof).
Source: Meta Platforms, Inc. 10-K
Definition 5 (Tesla, Inc., seen in 1 filing)
Exchange Program means a program under which (i) outstanding Awards are surrendered or cancelled in exchange for Awards of the same type (which may have different terms), Awards of a different type, and/or cash, and/or (ii) Participants would have the opportunity to transfer any outstanding Awards to a financial institution or other person or entity selected by the Administrator.
Source: Tesla, Inc. 10-K
Definition 6 (DoorDash, Inc., seen in 1 filing)
Exchange Program means a program under which (i) outstanding Awards are surrendered or cancelled in exchange for awards of the same type (which may have higher or lower exercise prices and different terms), awards of a different type, and or cash, (ii) Participants would have the opportunity to transfer any outstanding Awards to a financial institution or other person or entity selected by the Administrator, and or (iii) the exercise price of an outstanding Award is increased or reduced.
Source: DoorDash, Inc. 10-K
Data extracted from 8 SEC EDGAR filings across 5 companies. Source: Material contracts (Exhibit 10) filed under Regulation S-K.
This page presents definitions found in actual SEC filings for informational purposes. The specific definition appropriate for your contract may vary based on jurisdiction, industry, and specific circumstances. Consult with a qualified attorney for legal advice.