Impact Minerals Ltd Annual Report 2022 67 Notes to the Consolidated Financial Statements continued NOTE 24: SHARE-BASED PAYMENTS Share Option Plan The Group has a Director and Employee Option Acquisition Plan (“Option Plan”) for Directors, employees and contractors of the Group. In accordance with the provisions of the Option Plan executives and employees may be granted options at the discretion of the Directors. Options issued to Directors are subject to approval by shareholders. Each share option converts into one ordinary share of Impact Minerals Limited on exercise. No amounts are paid or are payable by the recipient on receipt of the option. The options carry neither rights of dividends nor voting rights. Options may be exercised at any time from the date of vesting to the date of their expiry. The following share-based payment arrangements were in existence during the reporting period: Option series Number Grant date Expiry date Vesting date Exercise price Fair value at grant date 38(1) 40,000,000 8 Nov 2018 30 Nov 2021 30 Nov 2019 $0.03 $0.00382 39 20,000,000 8 Nov 2018 30 Nov 2022 30 Nov 2020 $0.0375 $0.00432 40 37,000,000 8 Nov 2019 5 Nov 2023 Immediate $0.0149 $0.00677 41 37,000,000 8 Nov 2019 5 Nov 2023 5 Nov 2020 $0.0149 $0.00677 42 9,500,000 15 Nov 2019 5 Nov 2023 Immediate $0.0149 $0.00677 43 9,500,000 15 Nov 2019 5 Nov 2023 5 Nov 2020 $0.0149 $0.00677 44 4,000,000 30 Apr 2021 29 Apr 2023 Immediate $0.03 $0.0076 45 83,000,000 30 Nov 2021 31 Oct 2025 Immediate $0.0217 $0.007 46(2) 500,000 16 Mar 2022 15 Mar 2023 Immediate $0.03 $0.001 47(a) 1,000,000 21 Apr 2022 31 Oct 2025 18 Mar 2023 $0.024 $0.0084 47(b) 3,000,000 21 Apr 2022 31 Oct 2025 18 Mar 2024 $0.024 $0.0084 48(3) 3,000,000 22 Apr 2022 22 Apr 2025 Immediate $0.024 $0.007 49(4) 158,254,389 3 Jun 2022 2 Jun 2024 Immediate $0.02 $0.0039(5) (1) Expired during the reporting period. (2) Unlisted Options issued to lead manager of April 2022 Placement. (3) Unlisted Options issued as part consideration of the acquisition of the Dinninup Project. (4) Listed Options issued as part of the June 2022 Renounceable Rights Issue. (5) 12,800,000 of the listed options were issued to the lead manager of the Renounceable Rights Issue and have been valued at $0.0039 per option.
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