Note 18. Share-based payments continued (a) Issue of Options and Performance Rights (continued) Performance Rights: Grant Date Beginning Balance Granted as remuneration Exercised during year Lapsed Balance at end of year Vested and Exercisable 31 Oct 2022: Tranche 1 9,333,335 – – – 9,333,335 – 31 Oct 2022: Tranche 2 9,333,333 – – – 9,333,333 – 31 Oct 2022: Tranche 3 9,333,332 – – – 9,333,332 – 17 Oct 2023: Tranche 1 – 10,000,000 – – 10,000,000 – 17 Oct 2023: Tranche 2 – 10,000,000 – – 10,000,000 – 17 Oct 2023: Tranche 3 – 10,000,000 – – 10,000,000 – Total 28,000,000 30,000,000 – – 58,000,000 – During the 2024 financial year 30 million performance rights were granted with the following performance conditions attached: Tranche 1 – to vest upon the later of both the following conditions occurring: – The Closing Price of Sunstone Shares being $0.067 or more for 10 trading days out of any 20 consecutive trading days; and – 12 months after issue. Tranche 2 – 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; and – Testing will be annually on 30th June. Tranche 3 – to vest upon the later of both the following conditions occurring: – The Closing Price of Sunstone Shares being $0.085 or more for 10 trading days out of any 20 consecutive trading days; and – 12 months after issue. Each tranche of Shares will not be able to be released from the Employee Performance Rights Plan until the performance based Vesting Conditions for that tranche have been achieved. During the 2024 financial year no performance rights vested as performance criteria were not met (2023: 46 million performance rights vested). (b) Amortisation expense of Options and Performance Rights The amortised expense for performance rights in the consolidated statement of profit or loss and other comprehensive income for the year ended 30 June 2024 was $121,495 (2023: $235,359). A further $205,892 (2023: $332,308) was capitalised as it related to employees working exclusively on the exploration projects including Ecuadorian staff. Expense for options was $47,665 (2023: $124,000). 53 Sunstone Metals Limited Annual Report 2024
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