How is “executed equivalent shares” defined?
An executed equivalent share is defined as follows:
• 1 share in an NMS Stock = 1 executed equivalent share
• 1 share in an OTC Equity Security = 0.01 executed equivalent share
• 1 Listed Option contract = 100 executed equivalent shares (or, if different, the applicable contract multiplier)
For additional information regarding fractional shares, please see FAQ V23.