Impact Minerals Ltd Annual Report 2023 37 Directors’ Report continued The assessed fair value at grant date of options granted to individuals is allocated equally over the period from grant date to vesting date, (and the amount included in the remuneration tables above). Fair values at grant date are determined using a Black-Scholes option pricing model that takes into account the exercise price, the term of the option, the impact of dilution, the share price at grant date and expected volatility of the underlying share, the expected dividend yield and the risk-free interest rate for the term of the option. K) LOANS TO KEY MANAGEMENT PERSONNEL There were no loans to individuals or members of key management personnel during the financial year or the previous financial year. L) OTHER TRANSACTIONS WITH KEY MANAGEMENT PERSONNEL There were no other transactions with key management personnel during the financial year or the previous financial year. END OF REMUNERATION REPORT (AUDITED) SHARES UNDER OPTION Unissued ordinary shares of the Company under option at the date of this report are as follows: Date options granted Expiry date Issue price of shares Number under option 8 Nov 2019 and 15 Nov 2019 5 Nov 2023 $0.0149 93,000,000 30 Nov 2021 31 Oct 2025 $0.0217 83,000,000 21 Apr 2022 31 Oct 2025 $0.024 4,000,000 22 Apr 2022 22 April 2025 $0.024 3,000,000 3 June 2022 (Listed) 2 Jun 2024 $0.02 158,254,389 24 Nov 2022 30 Nov 2025 $0.0125 53,000,000 7 Dec 2022 30 Nov 2025 $0.0125 32,000,000 17 Aug 2023 1 Dec 2025 $0.01125 30,000,000 TOTAL 456,254,389 No option holder has any right under the options to participate in any other share issue of the Company or any other entity. SHARES ISSUED ON THE EXERCISE OF OPTIONS There were no shares issued on the exercise of options during the year and up to the date of this report. CORPORATE GOVERNANCE STATEMENT The Company’s 2023 Corporate Governance Statement has been released as a separate document and is located on the Company’s website at https://www.impactminerals.com.au/site/about/corporate-governance.
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