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Share Based Payments | 12 Months Ended
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Jun. 30, 2025
Share Based Payments [Abstract] |
SHARE BASED PAYMENTS | 16. SHARE BASED PAYMENTS At the Annual General Meeting held on November 17, 2004, the shareholders approved the establishment of employee and consultant plans designed to reward directors, employees and consultants for their contributions to the Group. The plans are to be used as a method of retaining key personnel for the growth and development of the Group. Due to Alterity’s U.S. presence, a U.S. plan (the 2018 ADS Plan) and an Australian plan (the 2004 ASX Plan) were developed. As of June 30, 2025, equity had been issued to 4 Directors, 1 Key Management Personnel, 7 employees and 3 consultants under the 2004 ASX Plan and 2018 ADS Plan. As of June 30, 2024, equity had been issued to 3 Directors, 1 Key Management Personnel, 7 employees and 4 consultants under the 2004 ASX Plan and 2018 ADS Plan. As of June 30, 2023, equity had been issued to 4 Directors, 2 Key Management Personnel, 9 employees and 3 consultants under the 2004 ASX Plan and 2018 ADS Plan. At the 2004 Annual General Meeting, shareholders authorized the Group to issue in the aggregate up to 12 million ordinary shares under the two plans. This was increased to 22 million ordinary shares at the 2005 Annual General Meeting and further increased to 30 million ordinary shares at the 2007 Annual General Meeting, 45 million ordinary shares at the 2008 Annual General Meeting and 60 million ordinary shares at the 2009 Annual General Meeting. At the September 2020 General Meeting, shareholders authorized the Group to issue up to 157.5 million securities. At the 2020 Annual General Meeting, shareholders authorized the Group to issue up to 200 million ordinary shares. At the 2022 Annual General Meeting, shareholders authorized the Group to issue up to 240 million ordinary shares. At the 2024 Annual General Meeting, shareholders authorized the Group to issue up to 450 million ordinary shares. The Share Plan Committee, a sub-committee of the Remuneration Committee, administers the two plans and is able to change the terms of the equity issued under them from the default terms. Under the 2018 ADS Plan, the exercise price must equal or exceed the fair value of the ADS on the date the options are awarded. The option expiration date cannot exceed ten years from the date the options were awarded. The default vesting conditions are 25% per year on the date the options were awarded. Under the 2004 ASX Plan, the exercise price must be equal or be less than the market value of the ordinary shares on ASX on the date of grant. The option expiration date cannot exceed ten years from the date the options were granted. The default vesting conditions are 25% per year on the date the options were granted. Information with respect to the number of options granted under the 2004 ASX Plan and 2018 ADS Plan as follows:
|  | Years Ended June 30, |
|  | 2025 |  |  | 2024 |  |  | 2023 |
|  | Number of Options |  |  | Weighted Average Exercise Price (A$) |  |  | Number of Options |  |  | Weighted Average Exercise Price (A$) |  |  | Number of Options |  |  | Weighted Average Exercise Price (A$) |
Beginning of the year |  |  | 381,542,720 |  |  |  | 0.022 |  |  |  | 170,042,720 |  |  |  | 0.047 |  |  |  | 184,692,720 |  |  |  | 0.05 |
Issued during the year |  |  | - |  |  |  |  |  |  |  | 217,000,000 |  |  |  | 0.004 |  |  |  | - |  |  |  | - |
Exercised during the year |  |  | (6,333,333 | ) |  |  | 0.004 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Expired during the year |  |  | (12,000,000 | ) |  |  | .07 |  |  |  | - |  |  |  | - |  |  |  | (13,150,000 | ) |  |  | 0.11 |
Forfeited during the year |  |  | (4,650,000 | ) |  |  | 0.036 |  |  |  | (5,500,000 | ) |  |  | 0.036 |  |  |  | (1,500,000 | ) |  |  | 0.02 |
Outstanding at year end |  |  | 358,559,387 |  |  |  | 0.021 |  |  |  | 381,542,720 |  |  |  | 0.022 |  |  |  | 170,042,720 |  |  |  | 0.05 |
Vested and Exercisable at year end |  |  | 275,689,612 |  |  |  | 0.024 |  |  |  | 195,708,100 |  |  |  | 0.033 |  |  |  | 87,280,755 |  |  |  | 0.06 |
Options outstanding at the end of the year have the following expiry date and exercise prices:
|  |  |  |  |  | Exercise Price |  |  | Share options |  |  | Share options |
Series |  | Grant Date |  | Expiry Date |  | $A |  |  | 2025 |  |  | 2024 |
ATHAAB |  | September 18, 2020 |  | September 17, 2025 |  |  | 0.09 |  |  |  | 35,000,000 |  |  |  | 35,000,000 |
ATHAAD |  | January 7, 2021 |  | January 6, 2026 |  |  | 0.03 |  |  |  | 91,392,720 |  |  |  | 91,392,720 |
ATHAAE |  | November 29, 2021 |  | November 29, 2026 |  |  | 0.04 |  |  |  | 10,000,000 |  |  |  | 14,250,000 |
ATHAAF |  | July 31, 2021 |  | July 31, 2024 |  |  | 0.07 |  |  |  | - |  |  |  | 12,000,000 |
ATHAAG |  | November 21, 2021 |  | November 29, 2026 |  |  | 0.02 |  |  |  | 11,500,000 |  |  |  | 11,900,000 |
ATHAAH |  | December 21, 2023 |  | December 19, 2026 |  |  | 0.001 |  |  |  | 8,000,000 |  |  |  | 8,000,000 |
ATHAA |  | March 13, 2024 |  | March 13, 2029 |  |  | 0.004 |  |  |  | 20,166,667 |  |  |  | 26,500,000 |
ATHAB |  | March 13, 2024 |  | March 13, 2029 |  |  | 0.005 |  |  |  | 62,500,000 |  |  |  | 62,500,000 |
ATHAC |  | March 21, 2024 |  | March 21, 2029 |  |  | 0.003 |  |  |  | 120,000,000 |  |  |  | 120,000,000 |
|  |  |  |  |  |  | Total |  |  |  | 358,559,387 |  |  |  | 381,542,720 |
Weighted average remaining contractual life of options outstanding at end of period. |  |  |  | 2.37 years |  |  |  | 3.28 years |
Risk free interest rate – This is the government bond rate (having a term that most closely resembles the expected life of the option) in effect at the grant date. The Australian government bond rate has been used for options which are exercisable for fully paid ordinary shares and the U.S. government bond rate has been used for options which are exercisable for ADRs. Dividend yield – Alterity has never declared or paid dividends on its ordinary shares and does not anticipate paying any dividends in the foreseeable future. Expected volatility – Alterity estimates expected volatility based on historical volatility over the estimated life of the option and other factors. Historical volatility has been the basis for determining expected share price volatility as it is assumed that this is indicative of future movements. The life of the options is based on historical exercise patterns, which may not eventuate in the future. Expected life – This is the period of time that the options granted are expected to remain outstanding. This estimate is based primarily on historical trend of option holders to exercise their option near the date of expiry. As a result, the expected life is considered to equal the period from grant date to expiry date. Model inputs – The model inputs for the valuations of options approved and issued during the current and previous financial years are as follows:
|  |  |  | Exercise Price per Share |  |  | Share Price at Grant Date |  |  | Expected Share Price |  |  | Years to |  |  | Dividend |  |  | Risk-free Interest |  |  | Fair Value per Options |
Series |  | Grant Date |  | A$ |  |  | A$ |  |  | Volatility |  |  | Expiry |  |  | Yield |  |  | Rate |  |  | A$ |
ATHAAB |  | September 18,2020 |  |  | 0.09 |  |  |  | 0.05 |  |  |  | 98.00 | % |  |  | 5.00 |  |  |  | 0 | % |  |  | 0.43 | % |  |  | 0.032 |
ATHAAD |  | January 7,2021 |  |  | 0.03 |  |  |  | 0.032 |  |  |  | 139.52 | % |  |  | 5.00 |  |  |  | 0 | % |  |  | 0.38 | % |  |  | 0.028 |
ATHAAE |  | November 29, 2021 |  |  | 0.04 |  |  |  | 0.025 |  |  |  | 138.47 | % |  |  | 5.00 |  |  |  | 0 | % |  |  | 1.35 | % |  |  | 0.021 |
ATHAAF |  | July 31, 2021 |  |  | 0.07 |  |  |  | 0.034 |  |  |  | 169.42 | % |  |  | 5.00 |  |  |  | 0 | % |  |  | 0.13 | % |  |  | 0.027 |
ATHAAG |  | November 29, 2021 |  |  | 0.02 |  |  |  | 0.0238 |  |  |  | 138.47 | % |  |  | 5.00 |  |  |  | 0 | % |  |  | 1.35 | % |  |  | 0.021 |
ATHAAH |  | December 21, 2023 |  |  | 0.01 |  |  |  | 0.0065 |  |  |  | 133.87 | % |  |  | 3.00 |  |  |  | 0 | % |  |  | 3.67 | % |  |  | 0.005 |
ATHAA |  | March 13, 2024 |  |  | 0.004 |  |  |  | 0.004 |  |  |  | 158.31 | % |  |  | 5.00 |  |  |  | 0 | % |  |  | 3.47 | % |  |  | 0.004 |
ATHAB |  | March 13, 2024 |  |  | 0.004 |  |  |  | 0.004 |  |  |  | 158.31 | % |  |  | 5.00 |  |  |  | 0 | % |  |  | 3.47 | % |  |  | 0.004 |
ATHAC |  | March 21, 2024 |  |  | 0.003 |  |  |  | 0.004 |  |  |  | 158.83 | % |  |  | 5.00 |  |  |  | 0 | % |  |  | 3.48 | % |  |  | 0.004 |
Information with respect to the number of shares issued under the stock option plan as follows:
|  | Years Ended June 30, |
|  | 2025 |  |  | 2024 |  |  | 2023 |
|  | Number of Shares |  |  | Number of Shares |  |  | Number of Shares |
Beginning of the year |  |  | 13,277,715 |  |  |  | 13,277,715 |  |  |  | 13,277,715 |
Issued during the year |  |  | - |  |  |  | - |  |  |  | - |
End of the financial year |  |  | 13,277,715 |  |  |  | 13,277,715 |  |  |  | 13,277,715 |
No shares were granted during the year ended June 30, 2025, 2024 and 2023.

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