Cue Energy Resources Limited Notes to the financial statements 30 June 2024 Note 24. Share-based payments (continued) 58 30 June 2023 Grant date Expiry date Exercise price Balance at the start of the year Granted Exercised Expired/ forfeited/other Balance at the end of the year 29/07/2017 01/07/2023 $0.070 3,513,430 - - (39,777) 3,473,653 04/10/2019 01/07/2024 $0.090 3,569,765 - - (46,750) 3,523,015 16/07/2020 01/07/2025 $0.117 3,241,067 - - (36,830) 3,204,237 23/07/2021 22/07/2026 $0.078 4,047,966 - - (42,167) 4,005,799 30/08/2022 01/07/2027 $0.089 - 3,649,298 - (50,600) 3,598,698 14,372,228 3,649,298 - (216,124) 17,805,402 Weighted average exercise price $0.088 $0.089 $0.000 $0.088 $0.088 For the options granted during the current financial year, the valuation model inputs used to determine the fair value at the grant date, are as follows: Grant date Expiry date Share price at grant date Exercise price Expected volatility Dividend yield Risk-free interest rate Fair value at grant date 08/09/2023 01/07/2028 $0.065 $0.072 56.24% - 3.82% $0.031 Accounting policy for share-based payments Equity-settled share-based compensation benefits are provided to employees. Equity-settled transactions are awards of shares, or options over shares, that are provided to employees in exchange for the rendering of services. Cash-settled transactions are awards of cash for the exchange of services, where the amount of cash is determined by reference to the share price. The cost of equity-settled transactions are measured at fair value on grant date. Fair value is independently determined using either the Binomial or Black-Scholes option pricing model that takes into account the exercise price, the term of the option, the share price at grant date and expected price volatility of the underlying share, the expected dividend yield and the risk free interest rate for the term of the option, together with non-vesting conditions that do not determine whether the Consolidated Entity receives the services that entitle the employees to receive payment. No account is taken of any other vesting conditions. The cost of equity-settled transactions are recognised as an expense with a corresponding increase in equity over the vesting period. The cumulative charge to profit or loss is calculated based on the grant date fair value of the award, the best estimate of the number of awards that are likely to vest and the expired portion of the vesting period. The amount recognised in profit or loss for the period is the cumulative amount calculated at each reporting date less amounts already recognised in previous periods. If equity-settled awards are modified, as a minimum an expense is recognised as if the modification has not been made. An additional expense is recognised, over the remaining vesting period, for any modification that increases the total fair value of the share-based compensation benefit as at the date of modification. If the non-vesting condition is within the control of the Consolidated Entity or employee, the failure to satisfy the condition is treated as a cancellation. If the condition is not within the control of the Consolidated Entity or employee and is not satisfied during the vesting period, any remaining expense for the award is recognised over the remaining vesting period, unless the award is forfeited. If equity-settled awards are cancelled, it is treated as if it has vested on the date of cancellation, and any remaining expense is recognised immediately. If a new replacement award is substituted for the cancelled award, the cancelled and new award is treated as if they were a modification. 72 Cue Energy Resources Limited Annual Report 2024
RkJQdWJsaXNoZXIy MjE2NDg3