Company: FMST
Filing Date: 2025-06-20
Form Type: 20-F
Source: 0001171843-25-004004
Chunk: 228

Company: Foremost Clean Energy Ltd.
Filing Date: 2025-06-20
Form: 20-F
Item: Item 19
Chunk 228
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2                     250,000        20,000        $                                           14.50      $                                531,122    
  PSU’s granted                                 160,000        -                                                          9.10                                       -          
  PSU’s vesting through the year                -              -                                                         14.50                                       547,374    
  PSU’s redeemed                                ( 20,000       ( 20,000                                                  17.75                                       ( 355,000  
  PSU’s forfeited/cancelled                     ( 390,000      -                                                         10.66                                       ( 723,497  
  Balance at March 31, 2023, 2024 and 2025      -              -             $                                               -      $                                -          

During the year endedMarch 31, 2023, the Company recognized share-based payment expense of $363,195to the date of modification relating to PSU’s granted in fiscal2022.

During the years ended March 31, 2025 2024,

  There were no grants.  

During the year ended March 31, 2023,

  granted 40,000 PSU’s with a fair value at $ 387,379, to a director under the Company’s PSU Plan. The PSUs will vest and become redeemable only upon the achievement of certain closing price mile...  
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  modified 140,000 unvested PSU’s from earlier grants. The modified PSUs have a fair value of $ 1,068,398 and will vest and become redeemable upon the occurrence of certain capital market liquidi...  

  granted 120,000 PSU’s with a fair value of $ 1,246,463, to directors under the Company’s PSU Plan. The PSUs will vest and become redeemable upon the occurrence of certain capital market liquidi...  

  cancelled 390,000 unvested PSUs. Upon cancellation $ 723,496 of previously recognized share-based compensation expense was reversed from reserves to stock-based compensation.  

Restricted Share Units (“RSUs”):

The terms and conditions of vesting of each RSU granted is determined by the Board at the time of the grant in accordance with the Company’s Stock Incentive Plan. The Company use the fair value method to recognize the obligation and compensation expense associated with the RSUs. The fair value of RSUs