cash in lieu (CIL)

Definition

Payments made to investors who received fractional shares as a consequence of stock splits, corporate mergers and reorganizations. For instance, as a result of a merger, an investor is entitled to receive 17.25 shares. Since the company only issues whole shares, cash payment is made for the .25 share.

Use cash in lieu (CIL) in a sentence

You may want to try and give out cash in lieu if you think that may make things easier for you.

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He was getting cash in lieu and that meant a few things for him that were important and he needed to move forward.

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After my company was bought out in a merger, my stock options were converted into shares in the new company, along with a small check for cash in lieu of my fractional share.

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