73 Kazia Theraputics Limited Annual Report 2022 2022 at a Glance Chairman’s Letter CEO’s Report Key Milestones Pipeline Review ESG Financial Reports Note 33. Share-based payments continued Options Valuation In order to obtain a fair valuation of these options, the following assumptions have been made: The Black Scholes option valuation methodology has been used with the expectation that the majority of these options would be exercised towards the end of the option term. Inputs into the Black Scholes model includes the share price at grant date, exercise price, volatility, and the risk free rate of a five year Australian Government Bond on grant date. Risk-free rate and grant date For all tranches, the risk-free rate of a five-year Australian Government bond on grant date was used. Please refer to the table below for details. The abovementioned options have various vesting periods and exercising conditions. These options are unlisted as at 30 June 2022. No dividends are expected to be declared or paid by the consolidated entity during the terms of the options. The underlying expected volatility was determined by reference to historical data of the Company’s shares over a period of time. No special features inherent to the options granted were incorporated into measurement of fair value. Based on the above assumptions, the table below sets out the valuation for each tranche of options: Grant date Expiry date Share price at Grant Date Exercise price Volatility (%) Dividend yield (%) Risk free Rate (%) Fair value per option 07/08/2017 07/08/2022 $0.4300 $0.6700 74.50% - 1.95% $0.206 05/02/2018 05/02/2023 $0.5000 $0.7800 74.50% - 1.95% $0.200 13/11/2019 13/11/2023 $0.4100 $0.4900 74.50% - 1.95% $0.180 13/01/2020 13/01/2025 $0.6200 $0.8810 74.50% - 1.95% $0.340 09/11/2020 09/11/2024 $0.8900 $1.1320 90.00% - 0.10% $0.413 09/11/2020 09/11/2024 $0.8900 $0.8800 90.00% - 0.10% $0.503 04/01/2021 04/01/2025 $1.1850 $1.1690 90.00% - 0.19% $0.600 09/09/2021 21/06/2026 $1.4200 $1.3700 76.00% - 1.50% $0.880 16/11/2021 16/11/2025 $1.5700 $1.6900 76.00% - 1.50% $0.850 16/11/2021 16/11/2025 $1.5700 $2.2400 76.00% - 1.50% $0.750 16/11/2021 16/11/2026 $1.5700 $1.5600 76.00% - 1.50% $0.970 01/02/2022 01/02/2027 $0.9600 $0.9400 79.00% - 1.50% $0.590 24/05/2022 24/05/2027 $0.8000 $0.7800 44.00% - 2.95% $0.630 Our Collaborators
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