(1) Dr. Russell Howard was issued 1,000,000 performance rights to vest over 4 tranches in accordance
with shareholder approval received at the Annual General Meeting of Shareholders on November 16, 2018. The 1,000,000 performance rights were granted in lieu of additional cash to compensate Dr Howard for his additional responsibilities due to
his elevation to the role of Chairman following the retirement of the previous Chairman from the date of the 2017 AGM. As explained in the Appendix 3Y for Dr Howard released to ASX on December 22, 2017 and the 2018 AGM notice of meeting, the
total number of performance rights proposed by the Company was calculated based on 4 years of directors fees at $60,000 p.a. divided by $0.24 (being the 5 day VWAP up to and including December 15, 2017). However, the fair value of Dr
Howards performance rights for the purposes of this financial report reflects the prevailing share price as at the date of shareholder approval of his performance rights, in accordance with the applicable accounting standards.
The first tranche of 250,000 performance rights vested on December 1, 2018 (being for continued service from November 18, 2017 to November 17,
2018). The second tranche of 250,000 performance rights vested on December 1, 2019 (being for continued service from November 18, 2018 to November 17, 2019). The third tranche of 250,000 performance rights is due to vest on
December 1, 2020 (being for continued service from November 18, 2019 to November 17, 2020). The final 250,000 rights will vest on December 1, 2021 (being continued service from November 18, 2020 to November 17, 2021).
(2) Mr. Pete Meyers was issued 1,002,335 performance rights to vest over 4 tranches in lieu of cash for his services as a non-executive director, in accordance with shareholder approval received at the AGM on November 25, 2016.
As
indicated in the 2016 AGM notice of meeting, the number of performance rights was calculated based on 3.67 years of directors fees at $105,000 p.a. divided by $0.384 (being the 5-day VWAP up to and
including September 9, 2016). However, the fair value of his performance rights reflects the prevailing share price as at the date of shareholder approval. The first tranche of 181,425 performance rights vested on October 1, 2017 (being
for service from February 1, 2017 to September 30, 2017). The second tranche of 273,636 performance rights vested on October 1, 2018 (being for service from October 1, 2017 to September 30, 2018). The third tranche of
273,637 performance rights vested on October 1, 2019 (being for service from October 1, 2018 to September 30, 2019). The final 273,637 will vest on October 1, 2020 (being for service from October 1, 2019 to
September 30, 2020).
On December 2, 2019, Mr. Pete Meyers was issued 1,500,000 performance rights to vest over 3 tranches in lieu of cash
for his services as a non-executive director, in accordance with shareholder approval received at the AGM on November 1, 2019. As indicated in the 2016 AGM notice of meeting, the number of performance
rights was calculated based on 3 years of directors fees at $105,000 p.a. divided by $0.21 (being the closing share price on August 14, 2019). However, the fair value of his performance rights reflects the prevailing share price as at the
date of shareholder approval.
The first tranche of 500,000 performance rights (post share consolidation) will vest on October 1, 2021 (being for
service from October 1, 2020 to September 30, 2021). The second tranche of 500,000 performance rights due to vest on October 1, 2022 (being for service from October 1, 2021 to September 30, 2022). The third tranche of
500,000 performance rights due to vest October 1, 2023 (being for service from October 1, 2022 to September 30, 2023).
(3) Mr. G
Chamberlain was issued 1,327,236 performance rights to vest over 3 tranches in lieu of cash for his services as a non-executive director, in accordance with shareholder approval received at the AGM on
November 17, 2017. As indicated in the 2017 AGM notice of meeting, the number of performance rights was calculated based on 3.12 years of directors fees at $90,000 p.a. divided by $0.2111 (being the
5-day VWAP up to and including August 21, 2017). However, the fair value of the performance rights reflects the prevailing share price as at the date of shareholder approval.
The first tranche of 473,929 performance rights vested on October 1, 2018 (being for service from August 21, 2017 to September 30, 2018). The
second tranche of 426,653 performance rights vested on October 1, 2019 (being for service from October 1, 2018 to September 30, 2019). The third tranche of 426,654 performance rights is due to vest on October 1, 2020 (being for
service from October 1, 2019 to September 30, 2020).
(4) Vesting dates for the Performance Rights issued to Mr. Voigt, Ms. Miller, and
Dr. Triebel on December 4, 2017 were as follows: One-third vested on December 1, 2017 to Mr M Voigt, Ms D Miller, and Dr F Triebel; One-third vested on
December 1, 2018 to Mr. M Voigt, Ms. D Miller, and Dr. F Triebel. One-third vested on December 1, 2019 to Mr. M Voigt, Ms. D Miller, and Dr. F Triebel.
(5) On December 2, 2019, Mr. Marc Voigt was issued 3,600,000 performance rights to vest over 3 tranches, in accordance with shareholder approval
received at the AGM on November 1, 2019. One-third is due to vest on October 1, 2020; One-third is due to vest on October 1, 2021 and One-third is due to vest on October 1, 2022. Vesting is contingent upon the employee being continuously employed in good standing through the vesting period. The performance rights are subject to accelerated
vesting according to agreed terms in each persons employment contract. For vesting details of the other Performance Rights please refer to Section D on Share-based compensation below.
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