Nyrada Inc Annual Report 2020

NYRADA INC (ASX:NYR) 12 Unissued Common Stock Details of unissued Common Stock, interests under option and performance shares as at the date of this report are as follows Type of Security Number Exercise price Expiry date Performance shares 18,000,000 N/A 1 25/11/2024 Unlisted options 6,000,000 0.20 30/06/2024 Unlisted options 2,000,000 0.20 25/11/2022 Unlisted options 1,725,656 0.20 30/11/2020 Unlisted options 4,000,000 4 0.22 16/01/2025 Unlisted options 4,000,000 4 TBC 2 5 years from vesting date Unlisted options 5,000,000 4 TBC 2 5 years from vesting date Unlisted options 5,000,000 4 TBC 2 5 years from vesting date Unlisted options 3,600,000 0.24 25/11/2023 Unlisted options 3,600,000 TBC 3 25/11/2024 Unlisted options 3,600,000 TBC 3 25/11/2025 Unlisted options 800,000 4 0.24 16/01/2023 Unlisted options 900,000 4 TBC 3 3 years from vesting date Unlisted options 1,000,000 0.26 15/02/2021 1 Performance shares convert when specified milestones are achieved. 2 The exercise price is higher of - 100% of the Fair Market Value (as defined in the Company’s Stock Incentive Plan) of the Shares on the date that Option is granted; and - amount equal to 110% of the volume weighted average price of the CDIs for the period of 10 trading days immediately prior to the date on which that Option vests. - An exercise price of $0.22 was used for the purpose of the fair value calculation at grant date. 3 The exercise price is higher of - 100% of the Fair Market Value (as defined in the Company’s Stock Incentive Plan) of the Shares on the date that Option is granted; and - amount equal to 120% of the volume weighted average price of the CDIs for the period of 10 trading days immediately prior to the date on which that Option vests. - An exercise price of $0.24 was used for the purpose of the fair value calculation at grant date 4 Options vest on achievement of specific milestones. The holders of these options and performance shares do not have the right to participate in any share issue or interest issue of the Company or of any other body corporate or registered scheme. Shares issued on exercise of options No share options were exercised during the year (2019: nil). Dividends No dividends have been paid or declared since the start of the financial year and the directors have not recommended the payment of a dividend in respect of the financial year. Indemnification of officers As permitted under Delaware law, Nyrada indemnifies its Directors and certain officers and is permitted to indemnify employees for certain events or occurrences that happen by reason of their relationship with, or position held at, Nyrada. The Company’s Certificate of Incorporation and Bylaws provide for the indemnification of its Directors, officers, employees and other agents to the maximum extent permitted by the Delaware General Corporation Law. Nyrada has entered into indemnification agreements with its Directors and certain officers to this effect, including advancement of expenses incurred in legal proceedings to which the Director or officer was, or is threatened to be made,