GE Aerospace (GE)

[getmoreshares]

from the form 4:(1) Acquired at a price of $9.10 per unit pursuant to the terms of the 2007 Long-Term Incentive Plan. Payable beginning one year after termination of service as a director.
(2) Each unit of phantom stock is the economic equivalent of one share of common stock.
(3) Payable beginning one year after termination of service as a director.

Does indicate AFTER they leave???(thats my interpretation) You would think it would imply after one years service as a director!!!
Retirement stock??