Haverty Furniture Companies, Inc. Restricted Stock Unit Award Notice (2014 Long-Term Incentive Plan)

Contract Categories: Human Resources › Bonus & Incentive Agreements
Summary

Haverty Furniture Companies, Inc. has granted a restricted stock unit (RSU) award to the recipient under its 2014 Long-Term Incentive Plan. The award vests over four years, with 25% vesting each year from 2020 to 2023, provided the recipient remains employed. The RSUs convert to common stock upon vesting but do not provide voting rights or dividends until then. Immediate vesting occurs in the event of a change in control, death, or permanent disability. Unvested awards are forfeited upon retirement. Full details are in the official plan documents.

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EX-10.18 2 hvtexh1018.htm FORM OF RESTRICTED STOCK UNITS AWARD NOTICE
EXHIBIT 10.18

RESTRICTED STOCK UNIT AWARD NOTICE

«FIRST_NAME» «MIDDLE_NAME». «LAST_NAME»
«HOME_STREET»
«HOME_CITY», «HOME_PROVINCE» «HOME_POSTAL_CODE»

Pursuant to the terms and conditions of the Haverty Furniture Companies, Inc. 2014 Long-Term Incentive Plan (the “Plan”), on January 31, 2019, you were granted a restricted stock unit award (“RSU”) in the amount of «number_awarded» units.  Each RSU is equivalent to one share of common stock upon vesting.

Subject to your continued employment with the Company, your award will vest over four years in accordance with the following schedule:

25% vest on May 8, 2020
25% vest on May 8, 2021
25% vest on May 8, 2022
25% vest on May 8, 2023

Until vested, the units represented by this award are not entitled to receive cash dividends and do not have the right to vote. This award will vest immediately upon a change in control, death or permanent and total disability as defined in Section 2 of the Plan.  Awards not vested at retirement will be forfeited. Please consult the 2014 Long-Term Incentive Plan Prospectus for a complete understanding of Havertys’ equity award program.

This is a summary of the award.  The grant agreement and Plan Prospectus are the authoritative source for all questions on awards made under the Plan.