The company takes the view that the current likelihood of vesting of these RSUs does not meet a ‘more likely than not’ standard under US GAAP, and as a result no charge will be amortised through the company’s income statement. Subject to the vesting conditions being met on 30 April 2021 and 30 April 2022 (each, a vesting date) two million RSUs will vest on each vesting date, and the relevant SBLK shares will be issued and distributed to the relevant beneficiaries as per allocation by the Board. Any non-vested RSUs at the applicable vesting date will be cancelled.
