11. DIRECTORS AND OFFICERS STOCK COMPENSATION |
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| 11. DIRECTORS AND OFFICERS STOCK COMPENSATION | 11.DIRECTORS AND OFFICERS STOCK COMPENSATION
The Company has a Compensation Package for Directors and Executives. Elements of compensation awarded to, earned by or paid to each of our directors and executive officers who served during the last two financial years. This compensation discussion considers the size and stage of development of the Company to date.
As of December 31, 2024, the named executive officers of the Company were Shaun Passley, PhD as Chief Executive Officer, and James Sherman as Chief Financial Officer (the “Named Executive Officers”). Mr. Passley and Mr. Sherman are expected to be the only Named Executive Officers for the current fiscal year as well.
In assessing the compensation of its Named Executive Officers, the Company’s objectives have been to retain and motivate a highly talented executive team, allowing the Company to develop, evolve and achieve business and financial objectives. We believe compensation should be structured to ensure that a significant portion of an executive's compensation opportunity is at risk and related to factors that influence shareholder value.
The Company issues share-based compensation to directors and officers for services rendered. Share-based compensation is measured at the fair value of the equity instruments issued at the grant date and recognized in profit or loss in accordance with IFRS 2. Transactions with directors, officers and other key management personnel are also disclosed as related party transactions in Note 15. Year ended December 31, 2025
During the year ended December 31, 2025, the Company issued common shares and preferred shares to directors and officers for services rendered as follows:
The Preferred Shares issued to Shaun Passley, PhD on January 16, 2025 were issued as bonus compensation for services rendered to the Company. The fair value of these shares was recognized as share-based compensation expense.
Year ended December 31, 2024
During the year ended December 31, 2024, the Company issued common shares to directors and officers for services rendered as follows:
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