Examples of Legacy Options in a sentence
One-quarter of the Legacy Options vest on each of the first four anniversaries of the grant date, beginning on September 1, 2017.
It is noted that the timeframe for a report to be provided on future use and development for resource consent purposes is a minimum of 6 months prior to the expiry of the 10 year consent (see proposed condition 198C – Legacy Options), however feasibility and business cases, current and future leases will take much longer than 6 months.
Certain options have been issued outside the Option Plan (the "Legacy Options"), as set out in the Company’s Listing Statement dated September 28, 2020.
Consists of 225,694 Legacy Options granted on September 2, 2020 with an exercise price of $16.00 per share and fair value of $3.67 per option.
The issuance of the Legacy Options, is hereby approved, confirmed and ratified.
As at September 30, 2021, the Group had 3,428,895 cumulative outstanding Legacy Options (December 31, 2020 – 3,855,184, September 30, 2020 – 3,855,184) of which 3,388,245 (December 31, 2020 –3,377,034, September 30, 2020 – 3,253,245) were vested.
No additional Legacy Options may be granted under the Legacy Plan.
The amount available under the 2021 Plan is limited to 10% of the issued and outstanding shares of the combined subordinate voting shares and multiple voting shares less any amount for outstanding Legacy Options or outstanding under the 2021 plan.
During the three months ended September 30, 2021, option holders of the Company exercised Legacy Options for 437,500 subordinate voting shares.
All vested Legacy Options became exercisable in connection with closing of our IPO.