Nyrada Inc Annual Report 2020

NYRADA INC (ASX:NYR) 48 2019 Grant date Expiry date Balance at start of the year Granted Exercised Expired/ forfeited/ other Balance at the end of the year 15/02/2018 3 years from vesting date 440,000 - - - 440,000 15/02/2018 15/02/2021 33,000 - - - 33,000 01/05/2018 15/02/2021 22,000 - - - 22,000 23/05/2018 15/02/2021 44,000 - - - 44,000 23/05/2018 3 years from vesting date 44,000 - - - 44,000 583,000 - - - 583,000 The company has engaged an external valuation expert to perform the fair value for the options granted during the year ended 30 June 2018 as the exercise price for the shares are based on a premium (between 10% to 30%) set on either 15 days VWAP or at the ASX IPO price. Other assumptions used to determine the fair value of the options includes the following: Grant date Expiry date Expected volatility 1 Dividend yield Assumed exercise price Risk-free interest rate Fair value at grant date 25/11/2019 30/06/2024 83% 0% 0.20 0.86% 0.1268 25/11/2019 25/11/2022 83% 0% 0.20 0.86% 0.1268 25/11/2019 30/11/2020 83% 0% 0.20 0.86% 0.0609 25/11/2019 16/01/2025 83% 0% 0.22 0.79% 0.1288 25/11/2019 5 years from vesting date 83% 0% 0.22 0.86% 0.1275 25/11/2019 5 years from vesting date 83% 0% 0.22 0.86% 0.0128 2 25/11/2019 5 years from vesting date 83% 0% 0.22 0.86% 0.0128 2 25/11/2019 16/01/2023 83% 0% 0.24 0.79% 0.1125 25/11/2019 16/01/2024 83% 0% 0.24 0.79% 0.1243 25/11/2019 16/01/2025 83% 0% 0.24 0.77% 0.1339 25/11/2019 16/01/2023 83% 0% 0.24 0.79% 0.1003 25/11/2019 3 years from vesting date 83% 0% 0.24 0.75% 0.1242 25/11/2019 15/02/2021 83% 0% 0.26 0.75% 0.0551 1 Expected volatility has been based on the historical volatility of Noxopharm Ltd as at the grant date there was no trading history of Nyrada. 2 Discounted for probability of achieving milestone of 10%.