Company: FEAV
Filing Date: 2025-02-03
Form Type: DEF 14A
Source: 0000950170-25-012391
Chunk: 93

Company: 5E Advanced Materials, Inc.
Filing Date: 2025-02-03
Form: DEF 14A
Chunk 93
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 that ultimately vest will be made at the three-year anniversary of the grant date based upon achievement of the performance targets over the applicable performance period.

(2)During the year ended June 30, 2023, approximately 181.4 thousand PSUs were granted, which based on the achievement of certain operational targets, could vest within a range of 0% to 100%. The targets are 1) commissioning and operation of the Small-Scale Facility; 2) obtaining formation flow, head grade and impurity profile data from the Small-Scale Facility; and 3) generating product data to ensure process design for detailed engineering. 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 applicable performance period.

11. Earnings (Loss) Per Common Share

Basic loss per share is computed by dividing net loss available to common stockholders by the weighted average number of shares of common stock outstanding during the period. Diluted loss per share reflects the potential dilution that could occur if DSUs, RSUs, PSUs, stock options and convertible securities such as the Convertible Notes (excluding any Additional Shares since the probability of a Make-Whole Fundamental Change cannot be predicted) were exercised or converted into the Company’s Common Stock at the end of the respective period. Diluted loss per share equals basic loss per share for the years ended June 30, 2024 and 2023, as the effect of including dilutive securities in the calculation would be antidilutive.

For the years ended June 30, 2024 and 2023, the following effects are excluded from the computation of dilutive loss per share as such effects would have an anti-dilutive effect.

|                                                                               |     | Year Ended June 30, |   2024 |     |   |   2023 |
|:------------------------------------------------------------------------------|:----|:--------------------|-------:|:----|:--|-------:|
|                                                                               |     | -in thousands       |        |     |   |        |
| Interest expense on Convertible Notes                                         |     | $                   |  8,573 |     | $ |  8,012 |
| Derivative gain (loss) — Convertible Notes Derivatives                        |     | $                   |    749 |     | $ | 11,743 |
| Additional shares assuming conversion of Convertible Notes                    |     |                     | 46,615