Commonly used in the context of employee share incentive arrangements.
A target, set at the time an executive share option or share award, the attainment of which is required for the option or award to vest.
For more information, see Practice note, What is a performance condition?: an overview (www.practicallaw.com/8-205-5483).
Source: KPMG LLP. E-mail: firstname.lastname@example.org