64 Impact Minerals Ltd Annual Report 2023 Notes to the Consolidated Financial Statements continued NOTE 26: SHARE-BASED PAYMENTS Share Option Plan The Group has an Employee Securities Incentive Plan (“Incentive Plan”) for Directors, employees and contractors of the Group. In accordance with the provisions of the Incentive 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 39(1) 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(1) 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(1) 500,000 16 Mar 2022 15 Mar 2023 Immediate $0.03 $0.001 47 1,000,000 21 Apr 2022 31 Oct 2025 18 Mar 2023 $0.024 $0.0084 47 3,000,000 21 Apr 2022 31 Oct 2025 18 Mar 2024 $0.024 $0.0084 48 3,000,000 22 Apr 2022 22 Apr 2025 Immediate $0.024 $0.007 49 158,254,389 3 Jun 2022 2 Jun 2024 Immediate $0.02 $0.0039 50(2) 53,000,000 24 Nov 2022 30 Nov 2025 Immediate $0.0125 $0.0057 51(2) 32,000,000 7 Dec 2022 30 Nov 2025 6 Dec 2023 $0.0125 $0.005 (1) Expired during the reporting period. (2) 85,000,000 unlisted share options issued to Directors and employees during the reporting period.
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