Annual Report 2022 49 Note 26. Share-based payments During the year, the Company has granted the following share-based payments: 2,000,000 performance options were issued to Gisela Mautner on 1 February 2022, exercise price $0.54 expiring February 2026. The vesting conditions attached to the performance options granted to Gisela Mautner are: 100% of the options will vest on the achievement of any one of: 1. The Company being purchased in entirety (business sale/share sale); 2. An $10,000,000 or greater investment in the Company; or 3. Entering into a licencing agreement with a large pharmaceutical company. The Directors have estimated 100% likelihood of the vesting criteria being achieved and as a result the full fair value of the options have been expensed. Set out below are summaries of options outstanding at the end of the financial year: 2022 Balance at Expired/ Balance at the start of forfeited/ the end of Grant date Expiry date the year Granted Exercised other the year 08/12/2017 30/11/2021 $1.0800 319,213 - - (319,213) - 21/12/2018 21/11/2022 $0.6200 781,667 - - - 781,667 23/07/2019 23/07/2023 $0.5800 4,722,222 - - - 4,722,222 30/11/2019 17/12/2023 $0.3200 823,878 - - - 823,878 20/06/2020 20/06/2023 $0.3000 20,037,101 - (14,768) - 20,022,333 14/08/2020 14/08/2023 $0.3000 25,304,704 - - - 25,304,704 06/11/2020 06/11/2024 $0.5500 1,050,000 - (4,001,455) - (2,951,455) 17/11/2020 15/12/2022 $0.3150 3,000,000 - - - 3,000,000 31/05/2021 15/12/2024 $0.6810 250,000 - - - 250,000 01/02/2022 01/02/2026 $0.5400 - 2,000,000 - - 2,000,000 56,288,785 2,000,000 (4,016,223) (319,213) 53,953,349 Set out below are the options exercisable at the end of the financial year: 2022 2021 Grant date Expiry date Number Number 08/12/2017 30/11/2021 - 319,213 10/12/2018 21/11/2022 781,667 521,110 23/07/2019 23/07/2023 4,777,222 4,777,222 30/11/2019 17/12/2023 823,878 823,878 18/06/2020 18/06/2023 20,022,333 20,037,101 14/08/2020 14/08/2023 21,302,249 25,304,704 06/11/2020 06/11/2024 1,050,000 - 15/12/2020 15/12/2022 1,000,000 1,000,000 15/12/2020 15/12/2022 1,000,000 1,000,000 15/12/2020 15/12/2022 1,000,000 1,000,000 31/05/2021 12/12/2024 125,000 - 51,882,349 54,783,228
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