David Hockney the Order of Merit, an honour restricted to 24 members at any one time for their contributions to the arts and sciences. He was a Distinguished Honoree of the National Arts Association, Los Angeles, in 1991 and received the First Annual Award of Achievement from the Archives of American Art, Los Angeles, in 1993. He was appointed to the Board of Trustees of the American Associates of the Royal Academy Trust, New York in 1992 and was given a Foreign Honorary Membership to the American Academy of Arts and Sciences, Cambridge, Massachusetts in 1997. In 2003, Hockney was awarded the
Restricted stock Restricted stock Restricted stock, also known as letter stock or restricted securities, is stock of a company that is not fully transferable (from the stock-issuing company to the person receiving the stock award) until certain conditions (restrictions) have been met. Upon satisfaction of those conditions, the stock is no longer restricted, and becomes transferable to the person holding the award. Restricted stock is often used as a form of employee compensation, in which case it typically becomes transferrable ("vests") upon the satisfaction of certain conditions, such as continued employment for a period of time or the achievement of particular product-development