Company: CSCIF
Filing Date: 2025-04-09
Form Type: 20-F
Source: 0001641172-25-003456
Chunk: 249

Company: COSCIENS Biopharma Inc.
Filing Date: 2025-04-09
Form: 20-F
Item: Item 18
Chunk 249
---
 December 31, 2024, 2023 and 2022 
(in thousands of US dollars, except share and per share data and where otherwise noted) 

17.     Deferred 
      share units
-----------------
 
The Company grants deferred share units (“DSUs”) to members of its Board of Directors and DSUs cannot be redeemed until the holder is no longer a director of the Company. Under the terms of the Long-Term Incentive Plan (“LTIP”), DSUs vest immediately and can either be settled via equity issuance or a cash payment, which is determined by the Board of Directors on the date of issuance for each grant. Each DSU settled by the issuance of one common share of the Company, net of applicable withholding taxes, is classified as equity-settled, while the DSUs settled by cash payment are classified as cash-settled.
 
Cash-settled deferred share units
 
Cash-settled DSU activity for the year ended December 31, 2024, was as follows:
 
Summary of number and weighted average exercise prices of cash settled deferred shares units
 
                                               Units             Amount      
-----------------------------------------------------------------------------
                                            #                  $             
Balance – January 1, 2024                        -                      -    
Granted – Replacement awards (note 5)            49,230        344           
Exercised                                        (36,980   )         (167   )
Change in fair value of cash-settled DSUs        -                   (129   )
Balance – December 31, 2024                      12,250        48            
 
The method and inputs used in estimating the fair value of DSUs on the acquisition date are described in Note 5. The fair value of the liability, classified as DSU liability, is subsequently remeasured at each reporting date and at settlement date, with changes in fair value recognized in profit or loss.
 
Equity-settled deferred share units
 
The compensation expense for the year ended December 31, 2024, was $411 (2023 - $nil) and is presented in selling, general and administrative expenses. Equity-settled DSU activity for the years ended December 31, 2024, 2023 and 2022, was as follows:
 
Summary of number and weighted average exercise prices of equity settled deferred shares units
 
                                    2024              Amount     
-----------------------------------------------------------------
                                  #                 $            
Balance – December 31, 2022                 -             -      
Balance – December 31, 2023