2.21. PARTICIPANT means an Employee, prospective Employee, Director, or consultant, advisor or contractor to the Company or any Subsidiary who has outstanding an Award granted under the Plan and includes those former Employees and former Directors who have certain post-termination rights under the terms of an Award.
2.22. PERFORMANCE PERIOD means the time period during which performance goals must be achieved with respect to an Award, as determined by the Committee.
2.23. PERFORMANCE SHARE means an Award granted to a Participant that entitles the Participant to delivery of Shares upon achievement of performance goals, as described in Section 9.
2.24. PERFORMANCE UNIT means an Award that entitles the Participant to a cash payment upon achievement of performance goals, as described in Section 9.
2.25. PERIOD OF RESTRICTION means the period or periods during which the transfer of an Award or the Shares is limited in some way (based on the passage of time, the achievement of performance goals, or upon the occurrence of other events as determined by the Committee, at its discretion), and the Award or Shares are subject to a substantial risk of forfeiture, as provided in Sections 8 and 9.
2.26. PERSON shall mean an individual or a corporation, partnership, limited liability company, association, trust, unincorporated organization, or other legal entity or organization.
2.27. PLAN means this Bowman Consulting Group Ltd. 2021 Omnibus Equity Incentive Plan, as set forth herein.
2.28. RESTRICTED STOCK means an Award of Shares subject to vesting conditions, which is granted to a Participant pursuant to Section 8.
2.29. RESTRICTED STOCK UNIT or RSUs shall mean a right to receive Shares or cash upon vesting pursuant to Section 8.
2.30. SERVICE shall mean the performance of services for the Company (or any Subsidiary) within the meaning of Code Section 409A, except to the extent otherwise specifically provided in the Award Agreement.
2.31. SETTLED shall mean, with respect to an Award, when the Award is fully exercised, vested, forfeited, canceled, expired or otherwise terminated in accordance with the terms of such Award.
2.32. SHARE or SHARES means shares of common stock of the Company.
2.33. STOCK APPRECIATION RIGHT or SAR means a right, designated as an SAR, to receive the appreciation in the Fair Market Value of Shares pursuant to the terms of Section 7.