Ann: Kazia Notice of Extraordinary General Meeting/Proxy Form, page-2

This is OK.....despite my initial first read. Options to directors are over two years, but at a 43% premium to the share price, at the time of vesting. That is a big premium, which I can't really recall seeing previously.

(means if the SP is $1 say at the first of the four vesting dates - to convert these options into shares, at a later time ...they pay $1.43, and so on - as the SP increases over the next two years.). So yes a big premium alright -

The CEO does better, but his options are issued over the next 4 years.

Nothing much to see here, in my view.

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The Exercise Price for the Options will be calculated on the basis of a 43% premium to the 5-day VWAP of the Company’s ordinary shares prior to the date of the grant of the Options. Quotation of Shares issued on exercise Upon exercise of any of the Options, the Company will apply for quotation of the Shares issued as a result of the exercise, subject to any restrictions imposed by the ASX. Vesting Dates and Vesting Conditions The Options will vest and be exercisable as follows – in respect of each of the grantees: 1) 100,000 Options to vest on 1 January 2021; 2) 100,000 Options to vest on 1 July 2021; 3) 100,000 Options to vest on 1 January 2022; and 4) 100,000 Options to vest on 1 July 2022. The Options will vest in accordance with the terms of the ESOP