To play devil's advocate, the other two clauses required to get...

To play devil's advocate, the other two clauses required to get the performance rights were:

1) Increase the JORC resource

2) Improvements in corporate governance

Given they were actually vested in November (surely the funding would have to be market sensitive especially 8 weeks ago) my assumption is that he got them for achieving the other 4 goals and not the one that really matters for the project. Whether he deserved that many shares for things that from memory were already pretty much in motion before he joined is a whole different question