They're performance rights, he only gets the shares when the...

They're performance rights, he only gets the shares when the milestone is met and he's got four years to do it.


The above milestone "commencement of construction" seems to be a low bar to me. I preferred the "initiation of pilot plant testing", so he gets the shares after the pilot plant is built, not before it is built. In fact, I would have thought "once commissioning of the pilot plant is complete" would be more appropriate. Everyone would look a bit silly if he got the shares but then the pilot plant testing failed.