Company: FEAV
Filing Date: 2025-02-13
Form Type: 10-Q
Source: 0000950170-25-019943
Chunk: 80

Company: 5E Advanced Materials, Inc.
Filing Date: 2025-02-13
Form: 10-Q
Item: Item 1
Chunk 80
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 outstanding at December 31, 2024

        375.3

        $
        1.29

        526.8

        $
        1.36

        902.1

        Serviced-Based Shares

        Weighted Average Grant Date Fair Value per Share

        Performance- Based Shares

        Weighted Average Grant Date Fair Value per Unit

        Total Shares

        (In thousands, except per share data)

        Non-vested shares/units    outstanding at June 30, 2023

        209.8

        $
        6.78

        139.1

        $
        7.20

        348.9

        Granted

        283.1

        2.35

        121.6
         
        (2)
         
        2.46

        404.7

        Vested

        (77.1
        )

        6.31

        —

        —

        (77.1
        )

        Forfeited

        (15.5
        )

        6.75

        (10.5
        )

        8.80

        (26.0
        )

        Non-vested shares/units    outstanding at December 31, 2023

        400.3

        $
        3.74

        250.2

        $
        4.83

        650.5

      (1)During the six months ended December 31, 2024, approximately 455.3 thousand PSUs were granted, which based on the achievement of certain financial and operational targets, could vest within a range of 0% to 100%. The targets are 1) construction of the large-scale commercial facility commencing prior to September 1, 2026; 2) an approved final investment decision in the large-scale commercial facility at a modeled internal rate of return of 20%, 3) achievement of an enterprise value in excess of $200 million, and 4) achievement of an enterprise value in excess of $300 million. The determination of the percentage of shares that ultimately vest will be made at the three-year anniversary of the grant date based upon achievement of the performance targets over the period.

18

(2)During the six months ended December 31, 2023, approximately 121.6 thousand PSUs were