The performance rights comprise two tranches vesting in 18 months and 36 months from the date of grant respectively.Vesting is subject to MAY's share price being at or higher than the initial 20-day VWAP of $0.066 calculated on 1 May2023 and the employee being employed/contracted at the end of the relevant vesting period.
So, under the 'plan' 17,031,840 rights are vested if sp is higher than $0.066 (6.6c) - money already in the bank for the recipients?
Why though has these 'rights' been allowed to vest at such ridiculously low price points and called 'performance rights' when clearly at such share prices it's more like shot in the foot under performance? Or does company expect share prices to under perform at vesting dates at such levels or is it a misprint and possibly should have been 66c (or is that far too optimistic)? AIMO
MAY Price at posting:
7.7¢ Sentiment: Hold Disclosure: Held
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AIMO
(20min delay)