34 DIRECTORS’ REPORT The terms and conditions of each grant of options over ordinary shares affecting remuneration of Directors and other Key Management Personnel in this financial year or future reporting years are as follows: Grant date Vesting date and exercisable date Expiry date Exercise Price Fair value per option at grant date 16 November 2021 16 November 2021 16 November 2025 $1.6900 $0.850 16 November 2021 16 November 2022 16 November 2025 $1.6900 $0.850 16 November 2021 16 November 2023 16 November 2025 $1.6900 $0.850 16 November 2021 16 November 2024 16 November 2025 $1.6900 $0.850 16 November 2021 16 November 2022 16 November 2025 $2.2400 $0.750 16 November 2021 16 November 2023 16 November 2025 $2.2400 $0.750 16 November 2021 16 November 2024 16 November 2025 $2.2400 $0.750 16 November 2021 16 November 2022 16 November 2026 $1.5600 $0.970 16 November 2021 16 November 2023 16 November 2026 $1.5600 $0.970 16 November 2021 16 November 2024 16 November 2026 $1.5600 $0.970 16 November 2021 16 November 2025 16 November 2026 $1.5600 $0.970 1 February 2022 1 February 2023 1 February 2027 $0.9400 $0.590 1 February 2022 1 February 2024 1 February 2027 $0.9400 $0.590 1 February 2022 1 February 2025 1 February 2027 $0.9400 $0.590 1 February 2022 1 February 2026 1 February 2027 $0.9400 $0.590 Additional disclosures relating to key management personnel Option holding The number of options over ordinary shares in the company held during the financial year by each Director and other members of Key Management Personnel of the consolidated entity, including their personally related parties, is set out below: Balance at the start of the year Granted as remuneration Exercised Disposed (for KMP reporting purposes only) Balance at the end of the year Options over ordinary shares J Garner* 2,000,000 2,500,000 - - 4,500,000 K Hill* 125,000 100,000 (25,000) - 200,000 G Heaton** 195,500 100,000 - (295,500) - Iain Ross* 400,000 - - - 400,000 Bryce Carmine* 400,000 - - - 400,000 Steven Coffey* 400,000 - - - 400,000 John Friend* - 800,000 - - 800,000 Karen Krumeich* - 800,000 - - 800,000 3,520,500 4,300,000 (25,000) (295,500) 7,500,000 * Options issued under the Employee Share Option Plan. Unvested options are forfeited upon cessation of employment with the Company. ** Options issued under the Employee Share Option Plan. Unvested options are forfeited upon cessation of employment with the Company. Disposal for KMP reporting purposes only. G Heaton still holds 295,500 options. During the year, 25,000 options were exercised by K Hill.
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