The Company grants RSUs on a quarterly basis, with each grant typically subject to a one-year vesting period. We believe that this approach has the following advantages:

• Performance is measured across four observation windows per year, reducing the risk that a single quarter (be it strong or weak) improperly distorts the full year incentive outcome. We believe that multiple observation windows also improve executive accountability.

• A one-year vesting period coupled with the quarterly grant structure means our executives hold four overlapping layers of restricted equity at any given moment. Because the value of RSU awards is directly tied to our share price, we believe that continuous exposure to stock, rather than the discrete vesting provided by a typical annual grant program, better incentives management to build sustainable shareholder value.

• Financial, operational and strategic milestones, such as site energization, financings, acquisitions, customer contracts or exahash deployment occur throughout the year. Accordingly, we believe staggered equity grants better correlate with the actual business of HIVE, thereby motivating our executive officers and other employees to execute our business goals and objectives.
   
• We believe that our base salaries may be somewhat lower compared to peer companies, which allows HIVE to better withstand volatility in operations or cashflow. Our staggered RSU program is designed to supplement base salary, we which we think enables us to attract the high-caliber personnel necessary for our repositioning into high performance computing. Further, we think periodic grants help employee retention, because our executive officers are routinely close to the receipt of equity compensation.