ClearVue Technologies Reports Expiry of 10 Million CPVAH Performance Rights Without Exercise

10 Million CPVAH Performance Rights Expire Unexercised on 30 June 2026

On 1 July 2026, ClearVue Technologies filed an update with the ASX confirming the formal cessation of 10,000,000 CPVAH-class performance rights effective 30 June 2026. These rights expired without exercise or conversion, indicating holders did not satisfy or elect to exercise the attached conditions before the expiry date.

Typically granted to employees, directors, or key management as incentives, such performance rights lapse either due to unmet performance targets, holder departures, or the passage of time without meeting exercise conditions. The company did not specify the exact performance conditions or reasons for non-fulfillment in this update. ClearVue also confirmed no consideration was paid for the lapse, consistent with standard practice when securities expire naturally rather than through buybacks or negotiated cancellations.

Impact on Issued Capital and Dilution

The expiry of these 10 million performance rights reduces the pool of unquoted securities that could potentially convert into shares, marginally benefiting existing shareholders by reducing dilution potential. The total quoted ordinary fully paid shares remain steady at 349,335,180, as expired performance rights do not result in share issuance.

ClearVue continues to hold a significant number of unquoted securities across multiple option classes. While 10 million CPVAH rights have lapsed, 4,000,000 CPVAH performance rights remain outstanding, indicating only a portion of this class has expired. Investors should factor these remaining rights into their calculations of the company’s fully diluted share count.

4 Million CPVAH Performance Rights Remain Active

The company’s post-cessation capital table shows 4,000,000 CPVAH performance rights still on issue, meaning the class was not fully extinguished. The update did not disclose the specific terms, vesting conditions, or expiry dates for these remaining rights. Investors seeking further details may refer to prior ClearVue incentive plan disclosures or annual reports. These residual rights represent ongoing dilution potential, though at a reduced level compared to before the lapse.

Largest Near-Term Dilution Risk: 25.7 Million CPVAU Options Expiring September 2026

The most substantial unquoted security class is the CPVAU options, totaling 25,689,625, which expire on 1 September 2026 with an exercise price of $0.20. This tranche significantly exceeds other option classes in volume and presents the largest near-term potential for new share issuance if exercised.

Whether holders exercise these options depends on the market price of CPV shares relative to the $0.20 exercise price by the expiry date. Exercising would increase the share count by up to 25,689,625 shares and could raise capital for ClearVue. The immediate impact on share price following the CPVAH rights expiry was not evident from public information. Investors should consider the CPVAU expiry a critical upcoming event in ClearVue’s capital structure.

Comprehensive Overview of Unquoted Option Classes Post-July 2026 Update

Alongside the CPVAU tranche, ClearVue holds several other option classes with varying expiry dates and exercise prices, including 4,000,000 CPVAV options expiring 20 February 2029 at $0.30; 989,550 CPVAW options expiring 20 February 2028 at $0.27; 500,000 CPVAO nil-exercise options expiring 30 October 2027; 2,000,000 CPVAP options expiring 13 December 2026 at $0.50; 2,000,000 CPVAQ options expiring 13 December 2026 at $1.00; 1,150,000 CPVAT options expiring 30 June 2027 at $0.549; and 3,000,000 CPVAM options expiring 30 November 2026 at $0.50.

The table also lists 93,333 CPVAS options expiring 19 June 2026 at $0.75. This expiry date predates the announcement, suggesting either a pending cessation or a delay in data updates, as noted by ClearVue. The company indicated that the issued capital figures are automatically generated and may not fully reflect current capital if other filings are processing simultaneously. Investors should interpret the CPVAS data accordingly.

Zero-Cost Expiry Highlights Cash Preservation

ClearVue’s confirmation that no consideration was paid for the lapse of 10 million CPVAH performance rights aligns with standard practice for expiries without exercise. This natural lapse reduces dilution without impacting the company’s balance sheet.

For ClearVue, which is advancing commercialisation of transparent solar glass technology in architecture, agriculture, and transport, maintaining cash reserves is important. The expiry of these potentially dilutive securities without any payment can be viewed positively from a cash management perspective, despite the underlying performance conditions not being met. The company provided no additional commentary on this outcome.

Quoted Share Count Remains at 349,335,180

Following the expiry of the CPVAH tranche, ClearVue’s total quoted ordinary fully paid shares remain unchanged at 349,335,180. Since the expired performance rights never converted into shares, no new shares were issued, and the share count is unaffected. This removal of potential future share creation from this instrument simplifies the capital structure.

This share count forms the basis for calculating earnings per share, net tangible assets per share, and other per-share metrics. Although the CPVAH expiry reduces unquoted securities, the fully diluted share count—factoring in all in-the-money options and outstanding performance rights—remains higher than the quoted share figure. Investors performing valuation analysis should reference the updated capital table provided.

About ClearVue Technologies and Its Smart Glass Strategy

ClearVue Technologies is an Australian company focused on developing and commercialising transparent solar energy glass technology. Its core product integrates solar power generation into architectural glass panels, targeting commercial buildings, greenhouses, and transport infrastructure markets. The company pursues partnerships and pilot projects globally to demonstrate commercial viability and scale revenue.

Capital structure changes, such as performance rights lapses, are routine but important for monitoring ClearVue’s equity story. As the company relies on equity-based incentives, the performance rights program outcomes can indirectly signal internal milestones and performance. This announcement solely discloses a change in issued securities and does not provide operational or strategic updates.

Investor Watchpoints: Key Expiry Dates and Securities

Investors should note several upcoming expiry dates affecting ClearVue’s diluted share count. The most imminent is 1 September 2026, when 25,689,625 CPVAU options expire. Depending on exercise decisions, this could lead to significant new share issuance or a reduction in dilution if they lapse.

In December 2026, 4,000,000 options across CPVAP ($0.50) and CPVAQ ($1.00) expire, along with 3,000,000 CPVAM options at $0.50 expiring in November 2026. Later expiries include 1,150,000 CPVAT options in June 2027, 500,000 CPVAO nil-exercise options in October 2027, 989,550 CPVAW options in February 2028, and 4,000,000 CPVAV options in February 2029. Each expiry represents either a capital raising opportunity if exercised or further simplification if they lapse. The CPVAU expiry on 1 September 2026 is the next major milestone for capital structure observers.