Ann: Notification regarding unquoted securities - RAC, page-12

It is in the announcement.

The exercise price of the options is $1.95. 372,028 options will vest 12 months from the date of issue (First Vesting Date). Commencing 1 month after the First Vesting Date, 31,002 options will vest on each monthly anniversary of the First Vesting Date for a 23 month period and 31,009 will vest on the date which is 24 months from the First Vesting Date. The options expiry on 1 November 2028.

These are not freebies and are part of a package aimed at hiring and keeping the best people. If you want a company run by mediocre people then the easiest way of achieving this is paying badly and not aligning the employees interests with the shareholders.