FBR General Discussion, page-33

Hi Adent, I guess the issue here is that the performance shares where all allocated as part of the deal for the sale of Hadrian and Goldwing to FBR
These shares haven't diluted the pool of shares as they have always existed since the day of the float , so have been included in the numbers.
This is one of the reasons disclosure is not required as the shares have always been in existence and always been on the registry for the particular holder.
If you you were one of these share holders you would find on your CHESS documents that all the performance shares are there and held by the shareholder. It is a bit like having shares in escrow , but unlike escrow it is not a time limit is is a milestone limit.
What the holder has not been able to do is use these shares until such time as the performance milestones have been deemed fulfilled.
Once the milestones are completed the shares allocated can then be acted upon, and used as they see fit.
If the milestones are not met then the shares are taken back and put back in to the general company share pool.