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8VLQJWKH6DEEDWKIHDWXUH
XSSHUDQGORZHURYHQV
'HVLJQHGIRUXVHRQWKH-HZLVK6DEEDWKDQG+ROLGD\VRQVRPHPRGHOV
*($SSOLDQFHVFRP
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7RXFKWKH&/($52))SDG
,IWKHRYHQLVFRRNLQJZDLWIRUDUDQGRPGHOD\
SHULRGRIDSSUR[LPDWHO\VHFRQGVWR
PLQXWHXQWLORQO\LVLQWKHGLVSOD\
7RXFKDQGKROGERWKWKH%52,/+,/2DQG
%$.(SDGVDWWKHVDPHWLPHXQWLOWKHGLVSOD\
VKRZV6)
7DSWKH'(/$<67$57SDGXQWLOVKGQRUQR
VKGQDSSHDUVLQWKHGLVSOD\
&KRRVHVKGQLQGLFDWLQJWKDWWKHRYHQZLOO
DXWRPDWLFDOO\WXUQRIIDIWHUKRXUVRUQR
VKGQLQGLFDWLQJWKDWWKHRYHQZLOOQRW
DXWRPDWLFDOO\WXUQRIIDIWHUKRXUV
3UHVV67$57ZKHQWKHRSWLRQWKDW\RXZDQWLV
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127(,IDSRZHURXWDJHRFFXUUHGZKLOHWKHRYHQ
ZDVLQ6DEEDWKWKHRYHQZLOODXWRPDWLFDOO\WXUQRII
DQGVWD\RIIHYHQZKHQWKHSRZHUUHWXUQV7KHRYHQ
FRQWUROPXVWEHUHVHW6RPHPRGHOVZLOOUHVXPH
6DEEDWKPRGHKRZHYHURSHQLQJWKHGRRUZLOO
DFWLYDWHWKHRYHQOLJKW
7KH6DEEDWKIHDWXUHFDQEHXVHGIRUEDNLQJURDVWLQJRQO\,WFDQQRWEHXVHGIRUFRQYHFWLRQEURLOLQJVHOIFOHDQLQJRU
'HOD\6WDUWFRRNLQJ
127(7KHRYHQOLJKWFRPHVRQDXWRPDWLFDOO\RQVRPHPRGHOVZKHQWKHGRRULVRSHQHGDQGJRHVRIIZKHQWKHGRRULVFORVHG7KHEXOEPD\EHUHPRYHG6HH
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+RZWR6HWIRU5HJXODU%DNLQJ5RDVWLQJ
0DNHVXUHWKHFORFNVKRZVWKHFRUUHFWWLPHRIGD\
DQGWKHRYHQLVRII
7RXFKDQGKROGERWKWKHXSSHURYHQ%52,/+,
/2DQG%$.( SDGVDWWKHVDPHWLPHXQWLOWKH
GLVSOD\VKRZV6)
127(,IEDNHRUEURLODSSHDUVLQWKHGLVSOD\WKH
%52,/+,/2DQG%$.(SDGVZHUHQRWWRXFKHG
DWWKHVDPHWLPH7RXFKWKH&/($52))SDG
DQGEHJLQDJDLQ
7DSWKH'(/$<67$57 SDGXQWLO6$EE$W+
DSSHDUVLQWKHGLVSOD\
7RXFKWKH67$57SDGDQGZLOODSSHDULQWKH
GLVSOD\%RWKRYHQVDUHQRZLQ6DEEDWKPRGH
7RXFKWKH%$.(SDGRQWKHXSSHURUORZHU
RYHQ1RVLJQDOZLOOEHJLYHQ
8VLQJWKHQXPEHUSDGVHQWHUWKHGHVLUHG
WHPSHUDWXUHEHWZHHQ)DQG)1R
VLJQDORUWHPSHUDWXUHZLOOEHJLYHQ7KHUHLVQR
GHIDXOWWHPSHUDWXUH
7RXFKWKH67$57SDGRQWKHFRUUHVSRQGLQJ
RYHQ
$IWHUDUDQGRPGHOD\SHULRGRIDSSUR[LPDWHO\
VHFRQGVWRPLQXWHZLOODSSHDULQWKH
GLVSOD\LQGLFDWLQJ WKDWWKHRYHQLVEDNLQJ
URDVWLQJ,IGRHVQ·WDSSHDULQWKHGLVSOD\
VWDUWDJDLQDW6WHS
7REDNHLQWKHRWKHURYHQVWDUWDW6WHSRQ
VRPHPRGHOV
7RDGMXVWWKHRYHQWHPSHUDWXUHWRXFKWKH%$.(SDG
HQWHUWKHQHZWHPSHUDWXUHXVLQJWKHQXPEHUSDGV
DQGWRXFKWKH67$57SDG
127(7KH&/($52))DQG&22.7,0(SDGVDUH
DFWLYHGXULQJWKH6DEEDWKIHDWXUH
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0DNHVXUHWKHFORFNVKRZVWKHFRUUHFWWLPHRIGD\
DQGWKHRYHQLVRII
7RXFKDQGKROGERWKWKHXSSHURYHQ%52,/+,
/2DQG%$.( SDGVDWWKHVDPHWLPHXQWLOWKH
GLVSOD\VKRZV6)
127(,IEDNHRUEURLODSSHDUVLQWKHGLVSOD\WKH
%52,/+,/2DQG%$.(SDGVZHUHQRWWRXFKHG
DWWKHVDPHWLPH7RXFKWKH&/($52))SDG
DQGEHJLQDJDLQ
7DSWKH'(/$<67$57 SDGXQWLO6$EE$W+
DSSHDUVLQWKHGLVSOD\
7RXFKWKH67$57SDGDQGZLOODSSHDULQWKH
GLVSOD\%RWKRYHQVDUHQRZLQ6DEEDWKPRGH
7RXFKWKH&22.7,0(SDGRQWKHXSSHURU
ORZHURYHQ1RVLJQDOZLOOEHJLYHQ
7RXFKWKHQXPEHUSDGVWRVHWWKHGHVLUHG
OHQJWKRIFRRNLQJWLPHEHWZHHQPLQXWHDQG
KRXUVDQGPLQXWHV
7RXFKWKH67$57SDG
7RXFKWKH%$.(SDG1RVLJQDOZLOOEHJLYHQ
8VLQJWKHQXPEHUSDGVHQWHUWKHGHVLUHG
WHPSHUDWXUH1RVLJQDORUWHPSHUDWXUHZLOOEH
JLYHQ7KHUHLVQRGHIDXOWWHPSHUDWXUH
7RXFKWKH67$57SDGRQWKHFRUUHVSRQGLQJ
RYHQ
$IWHUDUDQGRPGHOD\SHULRGRIDSSUR[LPDWHO\
VHFRQGVWRPLQXWHZLOODSSHDULQWKH
GLVSOD\LQGLFDWLQJWKDWWKHRYHQLV
EDNLQJ
URDVWLQJ
,IGRHVQ·WDSSHDULQWKHGLVSOD\
VWDUWDJDLQDW6WHS
7RDGMXVWWKHRYHQWHPSHUDWXUHWRXFKWKH%$.(SDG
HQWHUWKHQHZWHPSHUDWXUHXVLQJWKHQXPEHUSDGV
DQGWRXFKWKHELSDG
:KHQFRRNLQJLVILQLVKHGWKHGLVSOD\ZLOOFKDQJH
IURPWRDQGZLOODSSHDULQGLFDWLQJWKDW
WKHRYHQKDVWXUQHG2))EXWLVVWLOOVHWLQ6DEEDWK
5HPRYHWKHFRRNHGIRRG
+RZWR([LWWKH6DEEDWK)HDWXUH
:KHQWKHGLVSOD\VKRZVWKH
RYHQLVVHWLQ6DEEDWK:KHQWKH
GLVSOD\VKRZVWKHRYHQLV
EDNLQJURDVWLQJ
:KHQWKHGLVSOD\VKRZV
WKH
RYHQLVVHWLQ6DEEDWK:KHQWKH
GLVSOD\VKRZVWKHRYHQLV
EDNLQJURDVWLQJ
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