Nyrada Inc - Annual Report 2021

NYRADA INC (ASX:NYR) 58 19. Key Management Personnel disclosures Compensation The aggregate compensation made to directors and other members of Key Management Personnel of the Consolidated Entity is set out below: 2021 2020 $ $ Short-term employee benefits 691,632 725,658 Post-employment benefits 24,441 48,062 Share-based payments 867,397 783,067 1,583,470 1,556,787 20. Related party transactions Key Management Personnel Any person(s) having authority and responsibility for planning, directing and controlling the activities of the entity, directly or indirectly, including any director (whether executive or otherwise) of that entity, are considered Key Management Personnel. For details of disclosures relating to Key Management Personnel, refer to the remuneration report contained in the Directors’ report and note 19. Other related party transactions Mrs Prue Kelly was employed on a part-time basis by the Consolidated Entity in the role of Executive Assistant and Investor Relations Manager, effective 1 March 2020 to 4 February 2021. Mrs Kelly is the spouse of Director Graham Kelly. During the period where Graham Kelly was a director, Mrs Kelly was remunerated $23,269 (inclusive of superannuation) at market rates (30 June 2020: $31,025). During the year the Company fully settled a $342,322 loan to related party Noxopharm Ltd as disclosed in note 8. Noxopharm Limited is classified as a related party as Nyrada Inc and Noxopharm Limited have common directors and prior to 29 June 2021, Noxopharm Limited held in excess of 20% of diluted capital in Nyrada Inc. The loan was repayable upon the March 2021 Placement. The facility was unsecured with no interest payable. During the year ended 30 June 2020, the Consolidated Entity issued 12,000,600 performance shares to Noxopharm Limited and 5,999,400 per as an associate. Refer to note 9 for details. 21. Commitments and contingencies There are no significant commitments and contingencies at balance date in the current or prior reporting periods.