16.8 Equity Instruments Options may be granted under the ESIP. Eligibility to participate in the ESIP (including participation by Executive and non- executive directors) is determined by the Board in its absolute discretion as are vesting and exercise conditions. Employees must remain in employment during the vesting period. Options may also be granted by the Company outside of the ESIP, but under similar terms and conditions. The Group has a policy that prohibits directors and employees who are granted share options as part of their remuneration from entering into arrangements that limit their exposure to losses that would result from share price decreases. 16.8.1 LTI Performance for 2023 Options The three year assessment period for the options issued under the LTIP in 2023 closed at the end of the reporting period. Subsequent to year-end an assessment was undertaken by the Board to determine the number of options that would vest. The vesting condition for tranche 1 was based on the TSR relative to a peer group of companies determined by the Board and disclosed in the 2023 Annual Report, while the vesting condition for tranche 2 was based on absolute TSR. The Board determined that the vesting condition for tranche 1 had been met with the relative TSR of 68.75% resulting in a pro rata vesting of 70%. A total of 524,838 options vested and 242,744 were forfeited. Tranche 2 vesting conditions were not met, and 767,582 options were forfeited. The outcome for KMP is shown in the table below. The vested and forfeited options were held by each KMP at year-end and are included in the 31 December 2025 total balance in 16.8.3. LTIP ZEPOs issued in 2023 Vested Forfeited Directors Mr D P Gordon 161,950 300,764 Mr B R Scarpelli 79,121 146,940 Executives Mr R J Fitzhardinge 49,879 128,261 Mr J W Westdorp 71,100 132,043 Mr W E Foote 77,481 143,892 16.8.2 Analysis of Options over Equity Instruments Granted as Compensation Details of vesting profiles of the options granted as remuneration both during the current and prior years to KMP of the Group are detailed below. During the period 620,614 options which were issued in 2022 lapsed. A total of 459,953 options previously granted as compensation with a weighted average exercise price of $0.00 were exercised. Executive Number of Options Issued Grant Date Expiry Date Exercise Price Fair Value per Option at Grant Date % Vested in Year % Forfeited in Year Year Vesting Directors Mr D P Gordon 223,030 23/03/22 31/12/25 $0.000 $1.1485 - 100% 2025(1) 223,029 23/03/22 31/12/25 $0.000 $1.0496 87.5% 12.5% 2025(2) 231,357 26/05/23 31/12/26 $0.000 $0.4848 - - 2026(3) 231,357 26/05/23 31/12/26 $0.000 $0.2592 - - 2026(4) 581,568 28/05/24 31/12/27 $0.000 $0.4490 - - 2027(5) 581,568 28/05/24 31/12/27 $0.000 $0.2837 - - 2027(6) 727,153 26/05/25 31/12/28 $0.000 $0.3004 - - 2028(7) 727,153 26/05/25 31/12/28 $0.000 $0.2269 - - 2028(8) Mr B R Scarpelli 77,670 23/03/22 31/12/25 $0.000 $1.1485 - 100% 2025(1) 77,669 23/03/22 31/12/25 $0.000 $1.0496 87.5% 12.5% 2025(2) 113,031 26/05/23 31/12/26 $0.000 $0.4848 - - 2026(3) 113,030 26/05/23 31/12/26 $0.000 $0.2592 - - 2026(4) 284,123 28/05/24 31/12/27 $0.000 $0.4490 - - 2027(5) 284,123 28/05/24 31/12/27 $0.000 $0.2837 - - 2027(6) 355,248 26/05/25 31/12/28 $0.000 $0.3004 - - 2028(7) 355,248 26/05/25 31/12/28 $0.000 $0.2269 - - 2028(8) 44 ANNUAL REPORT CENTAURUS METALS LIMITED CENTAURUS METALS ANNUAL REPORT 2025
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