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Market-Based RSU
A grant that vests only if the stock price reaches a certain level, along with a time-based vesting provision of continued employment at the company (compare time-based stock award). For example, before Robinhood's IPO the company gave its top two executives and co-founders RSUs that pay out if the price hits certain levels and stays there for 60 days. See Robinhood's S-1 SEC registration statement (pages 215-217).
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