Vesting conditions are based on 20 days volume weighted average, that means usually share price need to stay well above the set price for 20 days. For receiving all performance shares, share price will need to stay above $3.50 for 20 days.
For example, another lithium developer set $2b market cap as vesting conditions, then its market cap went from $1b to $3b.
Re your question, If reached $4 and 20 day volume weighted average price is $3.5 or higher, all performance shares would be vested. The 20 days vwap is the key.
all imo.
Compelling opportunity, page-4351
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