Ann: Application for quotation of securities - 3DP, page-2

Please help me better understand what's going on here.

That's a somewhat interesting way of handing out 11M options with strike price of 9c and 3.5M with strike price of 10c. What are these handouts? Such interesting timing as well. If/when recipients sell these shares it'll be effectively a cap raise for the company of up to $1.34M.

From the annoucement:
"The issue price is funded by a limited recourse loan provided by the Company to eligible employees in accordance withthe Company's Incentive Share Plan adopted on 6 December 2021"