Company: FEAV
Filing Date: 2025-02-03
Form Type: DEF 14A
Source: 0000950170-25-012391
Chunk: 90

Company: 5E Advanced Materials, Inc.
Filing Date: 2025-02-03
Form: DEF 14A
Chunk 90
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Stock Options

All stock options outstanding prior to the three-month period ended September 30, 2022 were granted under the predecessor parent company's employee share option plan (the “ABR Employee Share Option Plan”). New option grants are made under the Incentive Plan and vest ratably over the vesting period, which is generally three years or less. The fair value of stock option awards granted to directors, officers, employees and/or consultants is estimated on the grant date using the Black-Scholes option valuation model and the closing price of the Company’s common shares on the grant date. Volatility is determined using the Company's historical stock price information. The significant assumptions used to estimate the fair value of stock option awards granted during the years ended June 30, 2024 and 2023, respectively, using the Black-Scholes option valuation model are as follows.

|                         |     | Year ended June 30, 
 2024                |     | 2023           |
|:------------------------|:----|:--------------------|:----|:---------------|
| Exercise price          |     | $1.27 - $7.73       |     | $7.73 - $25.62 |
| Share price             |     | $1.15 - $2.46       |     | $4.24 - $18.03 |
| Volatility              |     | 99%                 |     | 79% - 105%     |
| Expected term in years  |     | 3 - 10              |     | 5 - 10         |
| Risk-free interest rate |     | 4.30% - 4.72%       |     | 2.91% - 3.56%  |
| Dividend rate           |     | Nil                 |     | Nil            |

The following table summarizes stock option activity for each of the periods presented.

|                                        |     | Year ended June 30,                  |  2024 |   |     |                                 |       |     |                   |  2023 |   |     |                                 |       |
|:---------------------------------------|:----|:-------------------------------------|------:|:--|:----|:--------------------------------|------:|:----|:------------------|------:|:--|:----|:--------------------------------|------:|
|                                        |     | Number of Options                    |       |   |     | Weighted Average