Another case of “forget the formula; just give the answer”

Before

All covered executive officers are required to meet the share ownership requirements within five years of the effective date of the Share Ownership and Retention Plan (February 6, 2008), or within five years of the officer’s date of employment, if later.

Before, with commentary

All covered executive officers are required to meet the share ownership requirements within five years of the effective date of the Share Ownership and Retention Plan (February 6, 2008) [Is February 6 the effective date of the Plan or the five year mark after the effective date? If you simply provide the compliance date, there’s no question.], or within five years of the officer’s date of employment, if later.

After

All covered executive officers are required to meet the share ownership requirements of the Share Ownership and Retention Plan by February 6, 2013, or within five years of the officer’s date of employment, if later.