Remuneration Report (Audited) (continued) D Share-based compensation Options and performance rights provided as remuneration and shares issued on exercise Performance Rights movements during the financial year: 2023 Beginning Balance Granted as remuneration Vested during year Lapsed Balance at end of year Vested Lapsed $ % $ % Directors of Sunstone Metals Ltd: Mr M Norris 12,800,000 5,600,000 (11,200,000) (1,600,000) 5,600,000 291,20060.9% 18,240 8.7% Other key management personnel: Mr R Robinson 10,800,000 4,800,000 (9,600,000) (1,200,000) 4,800,000 249,600 61.5% 13,680 7.7% Mr G Leicht 10,800,000 4,800,000 (9,600,000) (1,200,000) 4,800,000 249,600 61.5% 13,680 7.7% Dr B Rohrlach 10,800,000 4,800,000 (9,600,000) (1,200,000) 4,800,000 249,600 61.5% 13,680 7.7% Total 45,200,000 20,000,000 (40,000,000) (5,200,000) 20,000,000 1,040,000 61.3% 59,280 8.0% All Performance Rights that vested into shares during the financial year are subject to disposal restrictions as at end of financial year and the vested value is calculated at closing share price 30 June 2023. Lapsed value reflects the value calculated at grant date for the rights that lapsed during the year. Shareholder approval was obtained at the Annual General Meeting 27 October 2022, for the issue of 5,600,000 Performance Rights with an exercise period of 3 years to Mr M Norris on the following terms (grant to other key management personnel as per above table on the same terms and same allocation between tranches): – Tranche 1 – 33.33% to vest upon the later of both the following vesting conditions occurring: – Closing Price of Sunstone Shares being $0.090 or more for 10 trading days out of any 20 consecutive trading days; and – 12 months after issue; – Tranche 2 – 33.33% to vest upon TSR performance as measured against the ASX Small Resources Index, as follows: – Performance below the index no shares will vest. – Performance equal to the index will see 50% vest, increasing linearly with outperformance of the index by up to 25%, such that 100% of shares will vest should Sunstone’s performance be greater than 25% above the index performance. Testing will be annually on 30th June; and – Tranche 3 – 33.33% to vest upon the later of both the following vesting conditions occurring: – Closing Price of Sunstone Shares being $0.135 or more for 10 trading days out of any 20 consecutive trading days; and – 12 months after issue. Grant Date Rights Outstanding Expiry Date Value per Right Total Value Vesting Condition Share price at Grant Date Share Volatility Risk Free rate of return Performance Rights: 31 Oct 2022: Tranche 1 6,666,667 31/10/2025 $0.0183 $122,000 $0.090 $0.031 131.4% 3.37% 31 Oct 2022: Tranche 2 6,666,667 31/10/2025 $0.0249 $165,667 TSR $0.031 131.4% 3.37% 31 Oct 2022: Tranche 3 6,666,666 31/10/2025 $0.0154 $102,667 $0.135 $0.031 131.4% 3.37% 20,000,000 $390,333 Weighted Average $ $0.0195 $0.031 Weighted Average remaining life 2.3 years 25 Sunstone Metals Limited Annual Report 2023
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