Nyrada Inc Annual Report 2020

Annual Report FY20 39 b) Options and warrants on issue The following share-based payment arrangements were in existence at the end of the current reporting period: No. of options. Grant date Expiry date Grant date fair value Vesting date/ Expected Vesting Date Exercise Price 6,000,000 25/11/2019 30/06/2024 0.1268 25/11/2019 0.20 2,000,000 25/11/2019 25/11/2022 0.1268 25/11/2019 0.20 1,725,656 25/11/2019 30/11/2020 0.0609 16/01/2020 0.20 4,000,000 25/11/2019 16/01/2025 0.1288 16/01/2020 0.22 4,000,000 4 25/11/2019 5 years from vesting date 0.1275 25/11/2022 3 TBC 1 5,000,000 5 25/11/2019 5 years from vesting date 0.0128 25/11/2024 3 TBC 1 5,000,000 6 25/11/2019 5 years from vesting date 0.0128 25/11/2026 3 TBC 1 3,600,000 25/11/2019 25/11/2023 0.1125 25/11/2020 0.24 3,600,000 25/11/2019 25/11/2024 0.1243 25/11/2021 TBC 2 3,600,000 25/11/2019 25/11/2025 0.1339 25/11/2022 TBC 2 800,000 25/11/2019 16/01/2023 0.1003 16/01/2020 0.24 900,000 7 25/11/2019 3 years from vesting date 0.1242 25/11/2024 3 TBC 2 1,000,000 25/11/2019 15/02/2021 0.0551 31/12/2019 0.26 1 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. 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 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. 3 Management estimate of expected vesting date. This is revisited on an annual basis. 4 Options vest upon the admission of the Company to the official list of a recognised securities exchange in the United States. 5 Options vest upon the Company achieving a market capitalisation of $500 million 6 Options vest upon the earliest of, the Company achieving a market capitalisation of $1 billion and the Company or any of its related bodies corporate completing a share sale or a business sale with a minimum value of $700 million. 7 50% of options vest on IND application in relation to a drug asset and 50% on the earlier of - the treatment of the first patient under a clinical study in relation to a Drug Asset; - the completion of the sale of a Drug Asset, or the total issued share capital of subsidiary of the Company that owns the Drug Asset, to a third party; and - the entry by the Company into a licensing agreement, pursuant to which the third party is granted the right to exploit a Drug Asset. As at 30 June, the known range of exercise price of options is between $0.20 and $0.26 and of nil for performance common stock (refer note c). The weighted average remaining contractual life of options and performance common stock is 1,518 days.