| Share-based payments |
Share-based payments The Company has adopted an Employee Share Option Plan (“ESOP”) to foster an ownership culture within the Company and to motivate senior management and consultants to achieve performance targets. Selected directors, employees and consultants may be eligible to participate in ESOP at the absolute discretion of the board of directors, and in the case of directors, upon approval by shareholders. Grant policy In accordance with the Company’s policy, options are typically issued in three equal tranches. The length of time from grant date to expiry date is typically 7 years. Options issued to employees generally vest based on performance or time conditions, or both. In the year ended June 30, 2026, senior executives were issued options that vest based on performance and time conditions. These options are required to satisfy certain pre-specified performance conditions and time-based vesting conditions prior to vesting. Time-based conditions restrict vesting to a maximum of one third at 12 months, two thirds at 24 months and full grant at 36 months, but only if the pre-specified performance conditions have been met. For time-based vesting options, the first tranche typically vests 12 months after grant date, the second tranche 24 months after grant date, and the third tranche 36 months after grant date. The exercise price is determined by reference to the Company policy. Generally the exercise price is the higher of the volume weighted average share price of the five ASX trading days up to Board approval of the grant, and the last closing price of an ordinary share on the ASX at Board approval. In the case of options that have time-based vesting conditions only, the Board of Directors adds a 10% premium to the market price. Options with performance based vesting conditions are issued with no premium. With the exception of series 96 which was in lieu of the staff cash bonus payment. The Board of Directors’ policy is to not issue options at a discount to the market price. In accordance to section 1100V of the Corporations Act, our ESOP limits the aggregate number of shares reserved for issuance on the exercise of US incentive stock options to 20,000,000. Our ESOP also requires that the number of options granted during the previous 3 years remain within the 10% of the total issued capital of the company. a. Reconciliation of outstanding share based payments | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Series | Grant Date(1) | Expiry Date | Exercise
Price | Opening
Balance | Granted No.
(during the
year) | Exercised
No. (during
the year) | Lapsed/Forfeited*
No. (during
the year) | | Closing
Balance | Vested and
exercisable
No (end of
year) | | 43 | 18-Jul-18 | 17-Jul-25 | A$1.85 | 1,773,332 | | — | (1,773,332) | | — | | — | | 43b | 18-Jul-18 | 17-Jul-25 | A$1.85 | 350,000 | | — | (350,000) | | — | | — | | 45 | 30-Nov-18 | 29-Nov-25 | A$1.31 | 490,000 | | (340,000) | (150,000) | | — | | — | | 46 | 19-Jan-19 | 18-Jan-26 | A$1.43 | 3,333 | | (3,333) | — | | — | | — | | 47 | 19-Jan-19 | 18-Jan-26 | A$1.43 | 150,000 | | (150,000) | — | | — | | — | | 48 | 04-Apr-19 | 03-Apr-26 | A$1.46 | 300,000 | | (300,000) | — | | — | | — | | 49 | 20-Jul-19 | 19-Jul-26 | A$1.60 | 2,081,669 | | (1,883,335) | — | | 198,334 | | 198,334 | | 49a | 20-Jul-19 | 19-Jul-26 | A$1.45 | 2,366,666 | | (1,316,666) | — | | 1,050,000 | | 700,000 | | 49b | 20-Jul-19 | 19-Jul-26 | A$1.45 | 1,346,667 | | — | — | | 1,346,667 | | 1,346,667 | | 49c | 20-Jul-19 | 19-Jul-26 | A$1.45 | 538,667 | | — | — | | 538,667 | | 538,667 | | 50 | 20-Jul-19 | 19-Jul-26 | A$1.45 | 175,000 | | (175,000) | — | | — | | — | | 54 | 25-Nov-19 | 24-Nov-26 | A$1.96 | 20,000 | | (20,000) | — | | — | | — | | 55 | 29-May-19 | 28-May-26 | A$1.46 | 350,000 | | (350,000) | — | | — | | — | | 56 | 18-Nov-19 | 17-Nov-26 | A$1.81 | 200,000 | | — | — | | 200,000 | | 200,000 | | 57 | 25-Nov-19 | 24-Nov-26 | A$1.78 | 100,000 | | — | — | | 100,000 | | 100,000 | | 58 | 25-Nov-19 | 24-Nov-26 | A$1.96 | 150,000 | | — | — | | 150,000 | | 150,000 | | 59 | 24-Jan-20 | 23-Jan-27 | A$3.36 | 10,000 | | — | — | | 10,000 | | 10,000 | | 63 | 18-May-20 | 17-May-27 | A$4.00 | 1,200,000 | | — | — | | 1,200,000 | | 1,200,000 | | 63a | 18-May-20 | 17-May-27 | A$3.63 | 1,200,000 | | — | — | | 1,200,000 | | 1,200,000 | | 64 | 16-Jul-20 | 15-Jul-27 | A$3.73 | 3,040,000 | | — | (80,000) | | 2,960,000 | | 2,960,000 | | 64a | 16-Jul-20 | 15-Jul-27 | A$3.39 | 1,735,000 | | — | — | | 1,735,000 | | 1,013,334 | | 64c | 16-Jul-20 | 15-Jul-27 | A$3.39 | 350,000 | | — | — | | 350,000 | | 116,666 | | 64d | 16-Jul-20 | 15-Jul-27 | A$3.39 | 300,000 | | — | — | | 300,000 | | 200,000 | | 64e | 16-Jul-20 | 15-Jul-27 | A$3.39 | 1,200,000 | | — | — | | 1,200,000 | | 1,200,000 | | 66 | 11-Sep-20 | 10-Sep-27 | A$4.76 | 200,000 | | — | — | | 200,000 | | 100,000 | | 68 | 20-Nov-20 | 19-Nov-27 | A$3.58 | 200,000 | | — | — | | 200,000 | | 200,000 | | 69 | 20-Nov-20 | 19-Nov-27 | A$3.58 | 100,000 | | — | — | | 100,000 | | 100,000 | | 71 | 17-Feb-21 | 16-Feb-28 | A$2.65 | 250,000 | | — | — | | 250,000 | | 250,000 | | 72 | 15-Apr-21 | 14-Apr-28 | A$2.26 | 200,000 | | — | — | | 200,000 | | 200,000 | | 74 | 08-Sep-21 | 07-Sep-28 | A$1.93 | 2,622,231 | | (109,231) | (10,000) | | 2,503,000 | | 2,503,000 | | 74a | 08-Sep-21 | 07-Sep-28 | A$1.75 | 3,850,000 | | (333,000) | (330,000) | * | 3,187,000 | | 2,537,000 | | 74b | 08-Sep-21 | 07-Sep-28 | A$1.75 | 1,550,000 | | — | — | | 1,550,000 | | 1,550,000 | | 75 | 23-Dec-21 | 22-Dec-28 | A$1.40 | 200,000 | | — | — | | 200,000 | | 200,000 | | 76 | 17-Oct-22 | 16-Oct-29 | A$1.01 | 1,250,000 | | — | — | | 1,250,000 | | 1,250,000 | | 77 | 23-May-22 | 22-May-29 | A$0.99 | 200,000 | | — | — | | 200,000 | | 200,000 | | 78 | 24-Aug-22 | 23-Aug-29 | A$0.83 | 200,000 | | — | — | | 200,000 | | 200,000 | | 79 | 17-Oct-22 | 16-Oct-29 | A$1.11 | 3,936,166 | | (1,136,666) | (15,000) | * | 2,784,500 | | 2,784,500 | | 79a | 17-Oct-22 | 16-Oct-29 | A$1.01 | 4,170,000 | | — | (825,000) | * | 3,345,000 | | 1,995,000 | | 79b | 17-Oct-22 | 16-Oct-29 | A$1.11 | 225,000 | | — | — | | 225,000 | | 225,000 | | 79c | 17-Oct-22 | 16-Oct-29 | A$1.01 | 3,225,000 | | — | — | | 3,225,000 | | 2,295,000 | | 79d | 17-Oct-22 | 16-Oct-29 | A$1.01 | 1,200,000 | | (271,000) | — | | 929,000 | | 459,000 | | 80 | 08-Aug-22 | 07-Aug-29 | A$0.91 | 100,000 | | — | — | | 100,000 | | 100,000 | | 81 | 11-Dec-20 | 10-Dec-27 | A$4.58 | 100,000 | | — | — | | 100,000 | | 100,000 | | 82 | 21-Nov-22 | 20-Nov-29 | A$1.10 | 33,333 | | (33,333) | — | | — | | — | | 83 | 30-Mar-23 | 29-Mar-30 | A$1.01 | 45,000 | | (15,000) | — | | 30,000 | | 30,000 | | 84 | 30-Mar-23 | 29-Mar-30 | A$0.92 | 600,000 | | — | — | | 600,000 | | 500,000 | | 85 | 12-Oct-23 | 11-Oct-30 | A$0.36 | 2,493,835 | | — | — | | 2,493,835 | | 2,493,835 | | 86 | 12-Oct-23 | 11-Oct-30 | A$0.36 | 1,853,889 | | — | — | | 1,853,889 | | 1,853,889 | | 87 | 16-Oct-23 | 15-Oct-30 | A$0.39 | 4,744,166 | | (795,001) | (168,333) | * | 3,780,832 | | 2,167,667 | | 87a | 16-Oct-23 | 15-Oct-30 | A$0.35 | 1,668,333 | | (326,667) | — | | 1,341,666 | | 245,000 |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Series | Grant Date(1) | Expiry Date | Exercise
Price | Opening
Balance | Granted No.
(during the
year) | Exercised
No. (during
the year) | Lapsed/Forfeited*
No. (during
the year) | | Closing
Balance | Vested and
exercisable
No (end of
year) | | 87b | 16-Oct-23 | 15-Oct-30 | A$0.35 | 3,160,000 | | — | — | | 3,160,000 | | 1,983,334 | | 87c | 16-Oct-23 | 15-Oct-30 | A$0.35 | 1,640,000 | | (303,333) | — | | 1,336,667 | | 516,668 | | 88 | 16-Oct-23 | 15-Oct-30 | A$0.35 | 447,301 | | — | — | | 447,301 | | 447,301 | | 89 | 24-Oct-23 | 23-Oct-30 | A$0.37 | 985,000 | | — | — | | 985,000 | | 656,666 | | | | | | | | | | | | | 91 | 11-Mar-24 | 10-Mar-31 | A$0.32 | 540,000 | | — | — | | 540,000 | | 360,000 | | 92 | 16-Oct-23 | 15-Oct-30 | A$0.35 | 300,000 | | — | — | | 300,000 | | 200,000 | | 93 | 30-May-24 | 29-May-31 | A$1.23 | 220,000 | | (50,000) | — | | 170,000 | | 170,000 | | 94 | 30-May-24 | 29-May-31 | A$1.23 | 200,000 | | — | — | | 200,000 | | — | | 95 | 30-May-24 | 29-May-31 | A$1.35 | 200,000 | | (20,000) | — | | 180,000 | | 115,000 | | 96 | 10-Sep-24 | 09-Sep-31 | A$0.01 | 3,594,456 | | (2,013,528) | — | | 1,580,928 | | 1,580,928 | | 96a | 10-Sep-24 | 13-Mar-26 | A$0.01 | 2,985,020 | | (2,985,020) | — | | — | | — | | 96b | 10-Sep-24 | 09-Sep-31 | A$0.01 | 346,409 | | (45,000) | — | | 301,409 | | 301,409 | | 96c | 10-Sep-24 | 09-Sep-31 | A$0.01 | 2,222,000 | | — | — | | 2,222,000 | | 2,222,000 | | 96d | 10-Sep-24 | 13-Mar-26 | A$0.01 | 1,280,651 | | (1,280,651) | — | | — | | — | | 97 | 27-Aug-24 | 26-Aug-31 | A$1.07 | 5,822,000 | | (461,667) | (370,000) | * | 4,990,333 | | 1,479,001 | | 97a | 27-Aug-24 | 26-Aug-31 | A$0.97 | 6,800,000 | | (441,668) | (266,666) | * | 6,091,666 | | 1,741,669 | | 97b | 27-Aug-24 | 26-Aug-31 | A$0.97 | 4,839,000 | | — | — | | 4,839,000 | | 1,613,001 | | 97c | 27-Aug-24 | 26-Aug-31 | A$1.07 | 240,000 | | (75,000) | (160,000) | * | 5,000 | | 5,000 | | 97d | 27-Aug-24 | 26-Aug-31 | A$1.07 | 225,000 | | — | — | | 225,000 | | 75,000 | | 98 | 14-Oct-24 | 13-Oct-31 | A$1.44 | 274,223 | | — | — | | 274,223 | | 274,223 | | 99 | 27-Aug-24 | 26-Aug-31 | A$0.97 | 1,395,389 | | — | — | | 1,395,389 | | 1,395,389 | | 100 | 17-Dec-24 | 16-Dec-31 | A$2.01 | 10,000 | | — | (6,666) | * | 3,334 | | 3,334 | | 101 | 17-Dec-24 | 16-Dec-31 | A$1.83 | 305,260 | | (233,958) | — | | 71,302 | | 71,302 | | 102 | 17-Dec-24 | 16-Dec-31 | A$1.83 | 235,295 | | — | — | | 235,295 | | 235,295 | | 103 | 10-May-25 | 09-May-32 | A$1.89 | 155,000 | | — | (15,000) | * | 140,000 | | 46,668 | | 104 | 10-May-25 | 09-May-32 | A$1.72 | 215,000 | | — | — | | 215,000 | | 215,000 | | 105 | 10-May-25 | 09-May-32 | A$1.72 | 197,411 | | — | — | | 197,411 | | 197,411 | | 106 | 10-May-25 | 09-May-32 | A$1.72 | 100,000 | | — | — | | 100,000 | | — | | 107 | 10-May-25 | 09-May-32 | A$1.72 | | 200,000 | — | — | | 200,000 | | 66,667 | | 108 | 10-May-25 | 09-May-32 | A$1.72 | | 200,000 | — | — | | 200,000 | | 66,667 | | 109 | 26-Aug-25 | 25-Aug-32 | A$2.46 | | 75,600 | — | — | | 75,600 | | — | | 110 | 26-Aug-25 | 25-Aug-32 | A$2.71 | | 6,385,000 | — | (826,000) | * | 5,559,000 | | — | | 110a | 26-Aug-25 | 25-Aug-32 | A$2.46 | | 5,042,000 | — | — | | 5,042,000 | | — | | 110b | 26-Aug-25 | 25-Aug-32 | A$2.46 | | 2,770,000 | — | (278,571) | * | 2,491,429 | | — | | 110c | 26-Aug-25 | 25-Aug-32 | A$2.46 | | 875,000 | — | — | | 875,000 | | — | | 111 | 23-Dec-25 | 22-Dec-32 | A$2.90 | | 650,000 | — | — | | 650,000 | | — | | 112 | 26-Aug-25 | 25-Aug-32 | A$2.46 | | 300,000 | — | — | | 300,000 | | 100,000 | | 113 | 23-Dec-25 | 22-Dec-32 | A$3.19 | | 300,000 | — | — | | 300,000 | | — | | 114 | 22-Jan-26 | 21-Jan-33 | A$2.85 | | 443,600 | — | (30,000) | * | 413,600 | | — | | 115 | 26-Feb-26 | 25-Feb-33 | A$2.66 | | 35,000 | — | — | | 35,000 | | — | | 116 | 26-Feb-26 | 25-Feb-33 | A$2.42 | | 400,000 | — | — | | 400,000 | | — | | 117 | 18-May-26 | 17-May-33 | A$2.24 | | 600,000 | — | — | | 600,000 | | — | | 118 | 22-Jan-26 | 21-Jan-33 | A$2.85 | | 600,000 | — | — | | 600,000 | | — | | 119 | 23-Jun-26 | 22-Jun-33 | A$2.16 | | 441,000 | — | — | | 441,000 | | — | | June 30, 2026 | | 93,581,702 | 19,317,200 | (15,468,057) | (5,654,568) | | 91,776,277 | 51,811,492 | | Weighted average share purchase price | | A$1.20 | | A$2.56 | | A$0.73 | | A$1.74 | | | A$1.53 | | A$1.40 | |
(1)The dates presented in the grant date column represent the date on which board approval was obtained. For valuation dates per IFRS 2, refer to Note 17(c). | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Series | Grant Date(1) | Expiry Date | Exercise
Price | Opening
Balance | Granted No.
(during the
year) | Exercised
No. (during
the year) | Lapsed/Forfeited*
No. (during
the year) | | Closing
Balance | Vested and
exercisable
No (end of
year) | | 38 | 16-Sep-17 | 15-Sep-24 | A$1.52 | | 50,000 | | — | (50,000) | | — | | — | | 39 | 13-Oct-17 | 12-Oct-24 | A$1.92 | | 815,000 | | — | (815,000) | | — | | — | | 39a | 13-Oct-17 | 12-Oct-24 | A$1.74 | | 902,425 | | — | (902,425) | | — | | — | | 40 | 24-Nov-17 | 23-Nov-24 | A$1.39 | | 750,000 | | — | (750,000) | | — | | — | | 40a | 24-Nov-17 | 23-Nov-24 | A$1.26 | | 750,000 | | — | (750,000) | * | — | | — | | 41 | 18-Jun-18 | 17-Jun-25 | A$1.50 | | 200,000 | | (200,000) | — | | — | | — | | 42 | 11-Jul-18 | 10-Jul-25 | A$1.54 | | 200,000 | | (200,000) | — | | — | | — | | 43 | 18-Jul-18 | 17-Jul-25 | A$1.85 | | 2,998,332 | | (1,225,000) | — | | 1,773,332 | | 1,773,332 | | 43b | 18-Jul-18 | 17-Jul-25 | A$1.85 | | 350,000 | | — | — | | 350,000 | | 350,000 | | 45 | 30-Nov-18 | 29-Nov-25 | A$1.31 | | 590,000 | | (100,000) | — | | 490,000 | | 490,000 | | 46 | 19-Jan-19 | 18-Jan-26 | A$1.43 | | 3,333 | | — | — | | 3,333 | | 3,333 | | 47 | 19-Jan-19 | 18-Jan-26 | A$1.43 | | 150,000 | | — | — | | 150,000 | | 150,000 | | 48 | 04-Apr-19 | 03-Apr-26 | A$1.46 | | 300,000 | | — | — | | 300,000 | | 300,000 | | 49 | 20-Jul-19 | 19-Jul-26 | A$1.60 | | 2,708,669 | | (627,000) | — | | 2,081,669 | | 2,081,669 | | 49a | 20-Jul-19 | 19-Jul-26 | A$1.45 | | 2,833,332 | | (466,666) | — | | 2,366,666 | | 2,016,666 | | 49b | 20-Jul-19 | 19-Jul-26 | A$1.45 | | 1,346,667 | | — | — | | 1,346,667 | | 1,346,667 | | 49c | 20-Jul-19 | 19-Jul-26 | A$1.45 | | 538,667 | | — | — | | 538,667 | | 538,667 | | 50 | 20-Jul-19 | 19-Jul-26 | A$1.45 | | 700,000 | | (525,000) | — | | 175,000 | | — | | 54 | 25-Nov-19 | 24-Nov-26 | A$1.96 | | 20,000 | | — | — | | 20,000 | | 20,000 | | 55 | 29-May-19 | 28-May-26 | A$1.46 | | 350,000 | | — | — | | 350,000 | | 350,000 | | 56 | 18-Nov-19 | 17-Nov-26 | A$1.81 | | 200,000 | | — | — | | 200,000 | | 200,000 | | 57 | 25-Nov-19 | 24-Nov-26 | A$1.78 | | 100,000 | | — | — | | 100,000 | | 100,000 | | 58 | 25-Nov-19 | 24-Nov-26 | A$1.96 | | 150,000 | | — | — | | 150,000 | | 150,000 | | 59 | 24-Jan-20 | 23-Jan-27 | A$3.36 | | 10,000 | | — | — | | 10,000 | | 10,000 | | 63 | 18-May-20 | 17-May-27 | A$4.00 | | 1,200,000 | | — | — | | 1,200,000 | | 1,200,000 | | 63a | 18-May-20 | 17-May-27 | A$3.63 | | 1,200,000 | | — | — | | 1,200,000 | | 900,000 | | 64 | 16-Jul-20 | 15-Jul-27 | A$3.73 | | 3,040,000 | | — | — | | 3,040,000 | | 3,040,000 | | 64a | 16-Jul-20 | 15-Jul-27 | A$3.39 | | 1,735,000 | | — | — | | 1,735,000 | | 1,013,334 | | 64c | 16-Jul-20 | 15-Jul-27 | A$3.39 | | 350,000 | | — | — | | 350,000 | | 116,666 | | 64d | 16-Jul-20 | 15-Jul-27 | A$3.39 | | 300,000 | | — | — | | 300,000 | | 200,000 | | 64e | 16-Jul-20 | 15-Jul-27 | A$3.39 | | 1,200,000 | | — | — | | 1,200,000 | | 1,200,000 | | 66 | 11-Sep-20 | 10-Sep-27 | A$4.76 | | 200,000 | | — | — | | 200,000 | | 100,000 | | 68 | 20-Nov-20 | 19-Nov-27 | A$3.58 | | 200,000 | | — | — | | 200,000 | | 200,000 | | 69 | 20-Nov-20 | 19-Nov-27 | A$3.58 | | 100,000 | | — | — | | 100,000 | | 100,000 | | 71 | 17-Feb-21 | 16-Feb-28 | A$2.65 | | 250,000 | | — | — | | 250,000 | | 250,000 | | 72 | 15-Apr-21 | 14-Apr-28 | A$2.26 | | 200,000 | | — | — | | 200,000 | | 200,000 | | 74 | 08-Sep-21 | 07-Sep-28 | A$1.93 | | 2,929,666 | | (290,769) | (16,666) | | 2,622,231 | | 2,622,231 | | 74a | 08-Sep-21 | 07-Sep-28 | A$1.75 | | 3,850,000 | | — | — | | 3,850,000 | | 2,780,000 | | 74b | 08-Sep-21 | 07-Sep-28 | A$1.75 | | 1,550,000 | | — | — | | 1,550,000 | | 620,000 | | 75 | 23-Dec-21 | 22-Dec-28 | A$1.40 | | 200,000 | | — | — | | 200,000 | | 200,000 | | 76 | 17-Oct-22 | 16-Oct-29 | A$1.01 | | 1,250,000 | | — | — | | 1,250,000 | | 833,334 | | 77 | 23-May-22 | 22-May-29 | A$0.99 | | 200,000 | | — | — | | 200,000 | | 200,000 | | 78 | 24-Aug-22 | 23-Aug-29 | A$0.83 | | 200,000 | | — | — | | 200,000 | | 133,334 | | 79 | 17-Oct-22 | 16-Oct-29 | A$1.11 | | 5,054,500 | | (1,023,334) | (30,000) | | 3,936,166 | | 2,278,000 | | 79 | 17-Oct-22 | 16-Oct-29 | A$1.11 | | | | | (65,000) | * | | | | 79a | 17-Oct-22 | 16-Oct-29 | A$1.01 | | 4,350,000 | | (180,000) | — | | 4,170,000 | | 1,636,250 | | 79b | 17-Oct-22 | 16-Oct-29 | A$1.11 | | 225,000 | | — | — | | 225,000 | | 150,000 | | 79c | 17-Oct-22 | 16-Oct-29 | A$1.01 | | 3,225,000 | | — | — | | 3,225,000 | | 600,000 | | 79d | 17-Oct-22 | 16-Oct-29 | A$1.01 | | 1,200,000 | | — | — | | 1,200,000 | | 550,000 | | 80 | 08-Aug-22 | 07-Aug-29 | A$0.91 | | 100,000 | | — | — | | 100,000 | | 100,000 | | 81 | 11-Dec-20 | 10-Dec-27 | A$4.58 | | 100,000 | | — | — | | 100,000 | 100,000 | | 82 | 21-Nov-22 | 20-Nov-29 | A$1.10 | | 100,000 | | (66,667) | — | | 33,333 | — |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Series | Grant Date(1) | Expiry Date | Exercise
Price | Opening
Balance | Granted No.
(during the
year) | Exercised
No. (during
the year) | Lapsed/Forfeited*
No. (during
the year) | | Closing
Balance | Vested and
exercisable
No (end of
year) | | 83 | 30-Mar-23 | 29-Mar-30 | A$1.01 | | 45,000 | | — | — | | 45,000 | 30,000 | | 84 | 30-Mar-23 | 29-Mar-30 | A$0.92 | | 600,000 | | — | — | | 600,000 | 300,000 | | 85 | 12-Oct-23 | 11-Oct-30 | A$0.36 | | 2,493,835 | | — | — | | 2,493,835 | 2,493,835 | | 86 | 12-Oct-23 | 11-Oct-30 | A$0.36 | | 1,853,889 | | — | — | | 1,853,889 | 1,853,889 | | 87 | 16-Oct-23 | 15-Oct-30 | A$0.39 | | 5,434,500 | | (560,334) | (130,000) | * | 4,744,166 | 1,211,168 | | 87a | 16-Oct-23 | 15-Oct-30 | A$0.35 | | 1,995,000 | | (326,667) | — | | 1,668,333 | — | | 87b | 16-Oct-23 | 15-Oct-30 | A$0.35 | | 3,160,000 | | — | — | | 3,160,000 | 954,667 | | 87c | 16-Oct-23 | 15-Oct-30 | A$0.35 | | 2,730,000 | | (820,000) | (270,000) | * | 1,640,000 | — | | 88 | 16-Oct-23 | 15-Oct-30 | A$0.35 | | 873,393 | | (426,092) | — | | 447,301 | 447,301 | | 89 | 24-Oct-23 | 23-Oct-30 | A$0.37 | | 985,000 | | — | — | | 985,000 | 328,333 | | 90 | 28-Feb-24 | 28-May-24 | A$0.01 | | — | | — | — | | — | — | | 91 | 11-Mar-24 | 10-Mar-31 | A$0.32 | | — | 540,000 | — | — | | 540,000 | 180,000 | | 92 | 16-Oct-23 | 15-Oct-30 | A$0.35 | | 300,000 | | — | — | | 300,000 | 100,000 | | 93 | 30-May-24 | 29-May-31 | A$1.23 | | 220000 | | — | — | | 220,000 | | 220000 | | 94 | 30-May-24 | 29-May-31 | A$1.23 | | 200000 | | — | — | | 200,000 | | — | | 95 | 30-May-24 | 29-May-31 | A$1.35 | | | 210,000 | — | (10,000) | | 200,000 | | 70,000 | | 96 | 10-Sep-24 | 09-Sep-31 | A$0.01 | | | 5,591,540 | (1,997,084) | — | | 3,594,456 | | 3594456 | | 96a | 10-Sep-24 | 14-Mar-25 | A$0.01 | | | 3,126,752 | (3,126,752) | — | | — | | — | | 96a | 10-Sep-24 | 13-Mar-26 | A$0.01 | | | 7,295,759 | (4,310,739) | — | | 2,985,020 | | 2,985,020 | | 96b | 10-Sep-24 | 09-Sep-31 | A$0.01 | | | 475,968 | (129,559) | — | | 346,409 | | 346,409 | | 96c | 10-Sep-24 | 09-Sep-31 | A$0.01 | | | 2,222,000 | — | — | | 2,222,000 | | 2,222,000 | | 96d | 10-Sep-24 | 14-Mar-25 | A$0.01 | | | 548,851 | (548,851) | — | | — | | — | | 96d | 10-Sep-24 | 13-Mar-26 | A$0.01 | | | 1,280,651 | — | — | | 1,280,651 | | 1,280,651 | | 97 | 27-Aug-24 | 26-Aug-31 | A$1.07 | | | 5,852,000 | — | (30,000) | * | 5,822,000 | | — | | 97a | 27-Aug-24 | 26-Aug-31 | A$0.97 | | | 6,800,000 | — | — | | 6,800,000 | | — | | 97b | 27-Aug-24 | 26-Aug-31 | A$0.97 | | | 4,839,000 | — | — | | 4,839,000 | | — | | 97c | 27-Aug-24 | 26-Aug-31 | A$1.07 | | | 240,000 | — | — | | 240,000 | | — | | 97d | 27-Aug-24 | 26-Aug-31 | A$1.07 | | | 225,000 | — | — | | 225,000 | | — | | 98 | 14-Oct-24 | 13-Oct-31 | A$1.44 | | | 274,223 | — | — | | 274,223 | | 91,408 | | 99 | 27-Aug-24 | 26-Aug-31 | A$0.97 | | | 1,395,389 | — | — | | 1,395,389 | | 930,261 | | 100 | 17-Dec-24 | 16-Dec-31 | A$2.01 | | | 235,000 | — | (225,000) | * | 10,000 | | — | | 101 | 17-Dec-24 | 16-Dec-31 | A$1.83 | | | 483,514 | — | (178,254) | * | 305,260 | | 77,986 | | 102 | 17-Dec-24 | 16-Dec-31 | A$1.83 | | | 235,295 | — | — | | 235,295 | | — | | 103 | 10-May-25 | 09-May-32 | A$1.89 | | | 180,000 | — | (25,000) | * | 155,000 | | — | | 104 | 10-May-25 | 09-May-32 | A$1.72 | | | 215,000 | — | — | | 215,000 | | — | | 105 | 10-May-25 | 09-May-32 | A$1.72 | | | 197,411 | — | — | | 197,411 | | 98,705 | | 106 | 10-May-25 | 09-May-32 | A$1.72 | | | 100,000 | — | — | | 100,000 | | — | | June 30, 2025 | | | 72,416,208 | 42,563,353 | (17,150,514) | (4,247,345) | | 93,581,702 | 51,019,572 | | Weighted average share purchase price | A$1.43 | | A$0.55 | | A$0.48 | | A$1.50 | | | A$1.20 | | A$1.37 | |
(1)The dates presented in the grant date column represent the date on which board approval was obtained. For valuation dates per IFRS 2, refer to Note 17(c).
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Series | Grant Date(1) | Expiry Date | Exercise
Price | Opening
Balance | Granted No.
(during the
year) | Exercised
No. (during
the year) | Lapsed/Forfeited*
No. (during
the year) | | Closing
Balance | Vested and
exercisable
No (end of
year) | | 35a | 8-Jul-20 | 8-Jul-23 | US$2.86 | | 1,500,000 | | — | (1,500,000) | | — | | — | | 36 | 6-Dec-16 | 5-Dec-23 | A$1.31 | | 533,000 | | — | (533,000) | | — | | — | | 36a | 6-Dec-16 | 5-Dec-23 | A$1.19 | | 1,950,730 | | — | (1,950,730) | | — | | — | | 38 | 16-Sep-17 | 15-Sep-24 | A$1.52 | | 50,000 | | — | — | | 50,000 | | 50,000 |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Series | Grant Date(1) | Expiry Date | Exercise
Price | Opening
Balance | Granted No.
(during the
year) | Exercised
No. (during
the year) | Lapsed/Forfeited*
No. (during
the year) | | Closing
Balance | Vested and
exercisable
No (end of
year) | | 39 | 13-Oct-17 | 12-Oct-24 | A$1.92 | | 975,000 | | — | (160,000) | | 815,000 | | 815,000 | | 39a | 13-Oct-17 | 12-Oct-24 | A$1.74 | | 902,425 | | — | — | | 902,425 | | 902,425 | | 40 | 24-Nov-17 | 23-Nov-24 | A$1.39 | | 750,000 | | — | — | | 750,000 | | 750,000 | | 40a | 24-Nov-17 | 23-Nov-24 | A$1.26 | | 750,000 | | — | — | | 750,000 | | — | | 41 | 18-Jun-18 | 17-Jun-25 | A$1.50 | | 200,000 | | — | — | | 200,000 | | 200,000 | | 42 | 11-Jul-18 | 10-Jul-25 | A$1.54 | | 200,000 | | — | — | | 200,000 | | 200,000 | | 43 | 18-Jul-18 | 17-Jul-25 | A$1.85 | | 3,133,332 | | — | (135,000) | | 2,998,332 | | 2,998,332 | | 43b | 18-Jul-18 | 17-Jul-25 | A$1.85 | | 350,000 | | — | — | | 350,000 | | 350,000 | | 45 | 30-Nov-18 | 29-Nov-25 | A$1.31 | | 590,000 | | — | — | | 590,000 | | 590,000 | | 46 | 19-Jan-19 | 18-Jan-26 | A$1.43 | | 3,333 | | — | — | | 3,333 | | 3,333 | | 47 | 19-Jan-19 | 18-Jan-26 | A$1.43 | | 150,000 | | — | — | | 150,000 | | 150,000 | | 48 | 4-Apr-19 | 3-Apr-26 | A$1.46 | | 300,000 | | — | — | | 300,000 | | 300,000 | | 49 | 20-Jul-19 | 19-Jul-26 | A$1.60 | | 3,018,669 | | — | (310,000) | | 2,708,669 | | 2,708,669 | | 49a | 20-Jul-19 | 19-Jul-26 | A$1.45 | | 2,833,332 | | — | — | | 2,833,332 | | 1,883,332 | | 49b | 20-Jul-19 | 19-Jul-26 | A$1.45 | | 1,346,667 | | — | — | | 1,346,667 | | 673,334 | | 49c | 20-Jul-19 | 19-Jul-26 | A$1.45 | | 538,667 | | — | — | | 538,667 | | 538,667 | | 50 | 20-Jul-19 | 19-Jul-26 | A$1.45 | | 700,000 | | — | — | | 700,000 | | 175,000 | | 54 | 25-Nov-19 | 24-Nov-26 | A$1.96 | | 20,000 | | — | — | | 20,000 | | 20,000 | | 55 | 29-May-19 | 28-May-26 | A$1.46 | | 350,000 | | — | — | | 350,000 | | 300,000 | | 56 | 18-Nov-19 | 17-Nov-26 | A$1.81 | | 200,000 | | — | — | | 200,000 | | 200,000 | | 57 | 25-Nov-19 | 24-Nov-26 | A$1.78 | | 100,000 | | — | — | | 100,000 | | 100,000 | | 58 | 25-Nov-19 | 24-Nov-26 | A$1.96 | | 150,000 | | — | — | | 150,000 | | 150,000 | | 59 | 24-Jan-20 | 23-Jan-27 | A$3.36 | | 10,000 | | — | — | | 10,000 | | 10,000 | | 63 | 18-May-20 | 17-May-27 | A$4.00 | | 1,200,000 | | — | — | | 1,200,000 | | 1,200,000 | | 63a | 18-May-20 | 17-May-27 | A$3.63 | | 1,200,000 | | — | — | | 1,200,000 | | 500,000 | | 64 | 16-Jul-20 | 15-Jul-27 | A$3.73 | | 3,253,333 | | — | (213,333) | | 3,040,000 | | 3,040,000 | | 64a | 16-Jul-20 | 15-Jul-27 | A$3.39 | | 1,735,000 | | — | — | | 1,735,000 | | 478,334 | | 64c | 16-Jul-20 | 15-Jul-27 | A$3.39 | | 350,000 | | — | — | | 350,000 | | 116,666 | | 64d | 16-Jul-20 | 15-Jul-27 | A$3.39 | | 300,000 | | — | — | | 300,000 | | 200,000 | | 64e | 16-Jul-20 | 15-Jul-27 | A$3.39 | | 1,200,000 | | — | — | | 1,200,000 | | 720,000 | | 66 | 11-Sep-20 | 10-Sep-27 | A$4.76 | | 200,000 | | — | — | | 200,000 | | 100,000 | | 68 | 20-Nov-20 | 19-Nov-27 | A$3.58 | | 200,000 | | — | — | | 200,000 | | 200,000 | | 69 | 20-Nov-20 | 19-Nov-27 | A$3.58 | | 100,000 | | — | — | | 100,000 | | 100,000 | | 71 | 17-Feb-21 | 16-Feb-28 | A$2.65 | | 250,000 | | — | — | | 250,000 | | 250,000 | | 72 | 15-Apr-21 | 14-Apr-28 | A$2.26 | | 200,000 | | — | — | | 200,000 | | 200,000 | | 74 | 8-Sep-21 | 7-Sep-28 | A$1.93 | | 3,186,333 | | — | (143,335) | | 2,929,666 | | 1,942,003 | | 74 | 8-Sep-21 | 7-Sep-28 | A$1.93 | | | | | (113,332) | * | | | | 74a | 8-Sep-21 | 7-Sep-28 | A$1.75 | | 3,850,000 | | — | — | | 3,850,000 | | 1,653,334 | | 74b | 8-Sep-21 | 7-Sep-28 | A$1.75 | | 1,550,000 | | — | — | | 1,550,000 | | 620,000 | | 75 | 23-Dec-21 | 22-Dec-28 | A$1.40 | | 200,000 | | — | — | | 200,000 | | 200,000 | | 76 | 17-Oct-22 | 16-Oct-29 | A$1.01 | | 1,250,000 | | — | — | | 1,250,000 | | 416,667 | | 77 | 23-May-22 | 22-May-29 | A$0.99 | | 200,000 | | — | — | | 200,000 | | 133,334 | | 78 | 24-Aug-22 | 23-Aug-29 | A$0.83 | | 200,000 | | — | — | | 200,000 | | 66,667 | | 79 | 17-Oct-22 | 16-Oct-29 | A$1.11 | | 5,754,500 | | — | (30,000) | | 5,054,500 | | 1,668,167 | | 79 | 17-Oct-22 | 16-Oct-29 | A$1.11 | | | | | (670,000) | * | | | | 79a | 17-Oct-22 | 16-Oct-29 | A$1.01 | | 4,350,000 | | — | — | | 4,350,000 | | 635,000 | | 79b | 17-Oct-22 | 16-Oct-29 | A$1.11 | | 225,000 | | — | — | | 225,000 | | 75,000 | | 79c | 17-Oct-22 | 16-Oct-29 | A$1.01 | | 3,225,000 | | — | — | | 3,225,000 | | — | | 79d | 17-Oct-22 | 16-Oct-29 | A$1.01 | | 1,200,000 | | — | — | | 1,200,000 | | 390,000 | | 80 | 8-Aug-22 | 7-Aug-29 | A$0.91 | | 100,000 | | — | — | | 100,000 | | 100,000 | | 81 | 11-Dec-20 | 10-Dec-27 | A$4.58 | | 100,000 | | — | — | | 100,000 | | 100,000 | | 82 | 21-Nov-22 | 20-Nov-29 | A$1.10 | | 100,000 | | — | — | | 100,000 | | 33,334 |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Series | Grant Date(1) | Expiry Date | Exercise
Price | Opening
Balance | Granted No.
(during the
year) | Exercised
No. (during
the year) | Lapsed/Forfeited*
No. (during
the year) | | Closing
Balance | Vested and
exercisable
No (end of
year) | | 83 | 30-Mar-23 | 29-Mar-30 | A$1.01 | | 150,000 | | — | (105,000) | * | 45,000 | | 15,000 | | 84 | 30-Mar-23 | 29-Mar-30 | A$0.92 | | — | 600,000 | — | — | | 600,000 | | 100,000 | | 85 | 12-Oct-23 | 11-Oct-30 | A$0.36 | | — | 2,493,835 | — | — | | 2,493,835 | | 831,279 | | 86 | 12-Oct-23 | 11-Oct-30 | A$0.36 | | — | 1,853,889 | — | — | | 1,853,889 | | 617,965 | | 87 | 16-Oct-23 | 15-Oct-30 | A$0.39 | | — | 5,459,500 | — | (25,000) | * | 5,434,500 | | — | | 87a | 16-Oct-23 | 15-Oct-30 | A$0.35 | | — | 1,995,000 | — | — | | 1,995,000 | | — | | 87b | 16-Oct-23 | 15-Oct-30 | A$0.35 | | — | 3,160,000 | — | — | | 3,160,000 | | — | | 87c | 16-Oct-23 | 15-Oct-30 | A$0.35 | | — | 2,730,000 | — | — | | 2,730,000 | | — | | 88 | 16-Oct-23 | 15-Oct-30 | A$0.35 | | — | 873,393 | — | — | | 873,393 | | 291131 | | 89 | 24-Oct-23 | 23-Oct-30 | A$0.37 | | — | 985,000 | — | — | | 985,000 | | — | | 90 | 28-Feb-24 | 28-May-24 | A$0.01 | | — | 1,072,363 | (1,072,363) | — | | — | | — | | 92 | 16-Oct-23 | 15-Oct-30 | A$0.35 | | — | 300,000 | — | — | | 300,000 | | — | | 93 | 30-May-24 | 29-May-31 | A$1.23 | | — | 220,000 | — | — | | 220,000 | | — | | 94 | 30-May-24 | 29-May-31 | A$1.23 | | — | 200,000 | — | 0 | | 200,000 | | — | | June 30, 2024 | | | 57,434,321 | 21,942,980 | (1,072,363) | (5,888,730) | | 72,416,208 | 31,061,973 | | Weighted average share purchase price | A$1.85 | | A$0.38 | | A$0.01 | | A$1.79 | | | A$1.43 | | A$1.98 | |
(1)The dates presented in the grant date column represent the date on which board approval was obtained. For valuation dates per IFRS 2, refer to Note 17(c). The weighted average share price at the date of exercise of options exercised during the years ended June 30, 2026, 2025 and 2024 were A$2.44, A$2.52 and A$0.93 respectively. The weighted average remaining contractual life of share options outstanding as of June 30, 2026, 2025 and 2024 were 4.08 years, 4.16 years and 4.24 years, respectively. b. Existing share-based payment arrangements General terms and conditions attached to share based payments Share options pursuant to the employee share option plan are generally granted in three equal tranches. The length of time from grant date to expiry date is typically seven years. Vesting occurs based on achievement of performance conditions and/or progressively over the life of the option with the first tranche vesting one year from grant date, the second tranche two years from grant date, and the third tranche three years from grant date. On cessation of employment the Company’s board of directors determines if a leaver is a bad leaver or not. If a participant is deemed a bad leaver, all rights, entitlements and interests in any unexercised options held by the participant will be forfeited and will lapse immediately. If a leaver is not a bad leaver they may retain vested options, however, they must be exercised within 60 days of cessation of employment (or within a longer period if so determined by the Company’s board of directors), after which time they will lapse. Unvested options will normally be forfeited and lapse. This policy applies to all series issued during the year ended June 30, 2026 shown in the above table with the exception of the following: | | | | | | | | | | 109 | | Options were granted in one tranche and are required to satisfy time-based vesting condition. Time-based condition restrict vesting at 12 months. | | | | | 110a | | Options were granted in two, three, or four tranches and will vest on the date that the option holder has direct involvement (to the reasonable satisfaction of the Company's board of directors) in the Company achieving certain confidential commercial objectives. Time-based conditions restrict vesting to a maximum of one third at 12 months, two thirds at 24 months and full grant at 36 months, but only if the pre-specified performance conditions have been met. | | | | | 110b | | Options were granted in four or seven tranches and will vest on the date that the option holder has direct involvement (to the reasonable satisfaction of the Company's board of directors) in the Company achieving certain confidential commercial objectives. Time-based conditions restrict vesting to a maximum of one third at 12 months, two thirds at 24 months and full grant at 36 months, but only if the pre-specified performance conditions have been met. | | | |
| | | | | | | | | | 110c & 111 | | Options were granted in four tranches and will vest on the date that the option holder has direct involvement (to the reasonable satisfaction of the Company’s board of directors) in the Company achieving certain confidential commercial objectives. Time-based conditions restrict vesting to a maximum of one third at 12 months, two thirds at 24 months and full grant at 36 months, but only if the pre-specified performance conditions have been met. | | | | | 116 | | Options were granted in two equal tranches and will vest on the date that the option holder has direct involvement (to the reasonable satisfaction of the Company’s board of directors) in the Company achieving certain confidential commercial objectives. | | | | | 119 | | Options were granted in three tranches and will vest on the date that the option holder has direct involvement (to the reasonable satisfaction of the Company’s board of directors) in the Company achieving certain confidential commercial objectives. Time-based conditions restrict vesting to a maximum of one third at 12 months, two thirds at 24 months and full grant at 36 months, but only if the pre-specified performance conditions have been met. |
Modifications to share-based payment arrangements During the year ended June 30, 2024, as a result of a 1 for 4 pro-rata accelerated non-renounceable entitlement offer to existing eligible shareholders in December 2023, the exercise price of all outstanding options at the time was reduced by A$0.02 per option subject to the ESOP plan under clause 8.3. There were no modifications made to share-based payment arrangements during the years ended June 30, 2026 and June 30, 2025. c. Fair values of share based payments The weighted average fair value of share options granted during the years ended June 30, 2026, 2025 and 2024 were A$1.53, A$1.21 and A$0.39, respectively. The fair value of all shared-based payments made has been calculated using the Black-Scholes model. This model requires the following inputs: Share price at acceptance date The share price used in valuation is the share price at the date at which the entity and the employee agree to a share-based payment arrangement, being when the entity and the employee have a shared understanding of the terms and conditions of the arrangement or at shareholder approval date where this approval is required. This price is generally the volume weighted average share price for the five trading days leading up to the date. Exercise price The exercise price is a known value that is contained in the agreements. Share price volatility The model requires the Company’s share price volatility to be measured. In estimating the expected volatility of the underlying shares our objective is to approximate the expectations that would be reflected in a current market or negotiated exchange price for the option. Historical volatility data is considered in determining expected future volatility. Life of the option The life is generally the time period from grant date through to expiry. Certain assumptions have been made regarding “early exercise” i.e. options exercised ahead of the expiry date. These assumptions have been based on historical trends for option exercises within the Company and take into consideration exercise trends that are also evident as a result of local taxation laws. Dividend yield The Company has yet to pay a dividend so it has been assumed the dividend yield on the shares underlying the options will be 0%. Risk free interest rate This has been sourced from the Reserve Bank of Australia historical interest rate tables for government bonds. Model inputs The model inputs for the valuations of options approved and granted during the year ended June 30, 2026 are as follows: | | | | | | | | | | | | | | | | | | | | | | | | | Series | Valuation date(1) | Exercise
price per share
A$ | Share price at
valuation date
A$ | Expected share
price volatility | Life(2) | Dividend yield | Risk-free
interest rate | | 107 | 25-Nov-25 | 1.72 | 2.38 | 73.59% | 5.4 yrs | 0% | 3.92% | | 108 | 25-Nov-25 | 1.72 | 2.38 | 73.59% | 5.4 yrs | 0% | 3.92% | | 109 | 25-Nov-25 | 2.46 | 2.38 | 73.59% | 5.6 yrs | 0% | 3.92% | | 110 | 16-Oct-25 | 2.71 | 2.80 | 73.73% | 5.7 yrs | 0% | 3.55% | | 110a | 10-Apr-26 | 2.46 | 2.12 | 73.27% | 5.3 yrs | 0% | 4.69% | | 110b | 25-Nov-25 | 2.46 | 2.38 | 73.59% | 5.6 yrs | 0% | 3.92% | 110c(3) | 30-Jun-26 | 2.46 | 1.96 | 72.95% | 5.1 yrs | 0% | 4.40% | | 111 | 10-Apr-26 | 2.90 | 2.12 | 73.27% | 5.6 yrs | 0% | 4.69% | | 112 | 22-Dec-25 | 2.46 | 2.90 | 73.53% | 5.6 yrs | 0% | 4.33% | | 113 | 10-Feb-26 | 3.19 | 2.50 | 73.40% | 5.7 yrs | 0% | 4.40% | | 114 | 07-Apr-26 | 2.85 | 1.99 | 73.29% | 5.7 yrs | 0% | 4.70% | | 115 | 16-Jun-26 | 2.66 | 1.95 | 72.96% | 5.6 yrs | 0% | 4.48% | | 116 | 10-Apr-26 | 2.42 | 2.12 | 73.27% | 5.7 yrs | 0% | 4.69% | | 117 | 30-Jun-26 | 2.24 | 1.96 | 72.95% | 5.7 yrs | 0% | 4.40% | | 118 | 30-Jun-26 | 2.85 | 1.96 | 72.95% | 5.5 yrs | 0% | 4.40% | | 119 | 30-Jun-26 | 2.16 | 1.96 | 72.95% | 5.8 yrs | 0% | 4.40% |
(1)Valuation date is the date at which the entity and the employee agree to a share-based payment arrangement, being when the entity and the employee have a shared understanding of the terms and conditions of the arrangement. (2)Expected life after factoring likely early exercise. (3)Fair value estimated at June 30, 2026 as the valuation date under IFRS2 has not been met as of June 30, 2026. The closing share market price of an ordinary share of Mesoblast Limited on the ASX as of June 30, 2026 was A$1.96. The model inputs for the valuations of options approved and granted during the year ended June 30, 2025 are as follows: | | | | | | | | | | | | | | | | | | | | | | | | | Series | Valuation date(1) | Exercise
price per share
A$ | Share price at
valuation date
A$ | Expected share
price volatility | Life(2) | Dividend yield | Risk-free
interest rate | | 91 | 15-Nov-24 | 0.32 | 1.57 | 72.64% | 5.3 yrs | 0% | 4.26% | | 95 | 18-Jul-24 | 1.35 | 1.11 | 72.68% | 5.8 yrs | 0% | 3.99% | | 96 | 24-Sep-24 | 0.01 | 1.06 | 72.55% | 2.6 yrs | 0% | 3.51% | | 96a | 24-Sep-24 | 0.01 | 1.06 | 72.55% | 0.9 yrs | 0% | 3.51% | | 96b | 24-Sep-24 | 0.01 | 1.06 | 72.55% | 2.6 yrs | 0% | 3.51% | | 96c | 15-Nov-24 | 0.01 | 1.57 | 72.64% | 2.6 yrs | 0% | 4.26% | | 96d | 15-Nov-24 | 0.01 | 1.57 | 72.64% | 0.8 yrs | 0% | 4.26% | | 97 | 03-Oct-24 | 1.07 | 1.35 | 72.55% | 5.8 yrs | 0% | 3.63% | | 97a | 16-Dec-24 | 0.97 | 1.83 | 72.65% | 5.7 yrs | 0% | 3.95% | | 97b | 17-Dec-24 | 0.97 | 1.94 | 72.65% | 5.7 yrs | 0% | 3.93% | | 97c | 20-Dec-24 | 1.07 | 2.42 | 73.89% | 5.6 yrs | 0% | 4.08% | | 97d | 25-Jun-25 | 1.07 | 1.61 | 73.60% | 5.2 yrs | 0% | 3.43% | | 98 | 17-Apr-25 | 1.44 | 1.65 | 73.83% | 5.5 yrs | 0% | 3.58% | | 99 | 15-Nov-24 | 0.97 | 1.57 | 72.64% | 5.7 yrs | 0% | 4.26% | | 100 | 20-Dec-24 | 2.01 | 2.42 | 73.89% | 5.9 yrs | 0% | 4.08% | | 101 | 24-Apr-25 | 1.83 | 1.79 | 73.83% | 5.6 yrs | 0% | 3.56% | | 102 | 07-May-25 | 1.83 | 1.72 | 73.77% | 5.6 yrs | 0% | 3.59% | | 103 | 25-Jun-25 | 1.89 | 1.61 | 73.60% | 5.8 yrs | 0% | 3.43% | | 104 | 15-Jan-26 | 1.72 | 2.70 | 73.47% | 5.3 yrs | 0% | 4.22% | | 105 | 06-Jun-25 | 1.72 | 1.76 | 73.64% | 5.9 yrs | 0% | 3.57% | | 106 | 05-Jun-25 | 1.72 | 1.77 | 73.65% | 5.9 yrs | 0% | 3.54% |
(1)Valuation date is the date at which the entity and the employee agree to a share-based payment arrangement, being when the entity and the employee have a shared understanding of the terms and conditions of the arrangement. (2)Expected life after factoring likely early exercise. The closing share market price of an ordinary share of Mesoblast Limited on the ASX as of June 30, 2025 was A$1.66. The model inputs for the valuations of options approved and granted during the year ended June 30, 2024 are as follows: | | | | | | | | | | | | | | | | | | | | | | | | | Series | Valuation date(1) | Exercise
price per share
A$ | Share price at
valuation date
A$ | Expected share
price volatility | Life(2) | Dividend yield | Risk-free
interest rate | | 84 | 31-Jul-23 | 0.92 | 1.18 | 64.95% | 6.1 yrs | 0% | 3.84% | | 85 | 28-Nov-23 | 0.36 | 0.39 | 69.82% | 6.3 yrs | 0% | 4.21% | | 86 | 28-Nov-23 | 0.36 | 0.39 | 69.82% | 6.3 yrs | 0% | 4.21% | | 87 | 09-Jan-24 | 0.39 | 0.29 | 70.10% | 6.2 yrs | 0% | 3.79% | | 87a | 03-Jun-24 | 0.35 | 1.17 | 72.84% | 5.8 yrs | 0% | 4.07% | | 87b | 12-Jan-24 | 0.35 | 0.29 | 70.07% | 6.1 yrs | 0% | 3.74% | | 87c | 29-Jul-24 | 0.35 | 1.07 | 72.76% | 5.6 yrs | 0% | 3.99% | | 88 | 15-Nov-23 | 0.35 | 0.37 | 69.82% | 6.3 yrs | 0% | 4.23% | | 89 | 28-Nov-23 | 0.37 | 0.39 | 69.82% | 6.3 yrs | 0% | 4.21% | | 90 | 28-Feb-24 | 0.01 | 0.30 | 69.97% | 0.2 yrs | 0% | 3.80% | | 92 | 11-Apr-24 | 0.35 | 0.89 | 72.66% | 5.9 yrs | 0% | 3.90% | | 93 | 03-Jun-24 | 1.23 | 1.17 | 72.84% | 6.4 yrs | 0% | 4.07% | | 94 | 14-Oct-24 | 1.23 | 1.44 | 72.56% | 5.6 yrs | 0% | 3.89% |
(1)Valuation date is the date at which the entity and the employee agree to a share-based payment arrangement, being when the entity and the employee have a shared understanding of the terms and conditions of the arrangement. (2)Expected life after factoring likely early exercise. The closing share market price of an ordinary share of Mesoblast Limited on the ASX as of June 30, 2024 was A$0.99.
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