Tetratherix Limited Grants 5,020 Performance Rights to Key Executives Under Existing Incentive Plan

Tetratherix Submits Appendix 3G for 5,020 Performance Rights Issued in Q2 2026

On 1 July 2026, Tetratherix Limited filed an Appendix 3G with the ASX, officially reporting the issuance of 5,020 performance rights under its employee incentive scheme. These securities, bearing the code TTXAG, were granted on 15 May 2026 and pertain to the quarter ending 30 June 2026. This filing complies with ASX regulatory requirements for unquoted equity securities issued outside the general market.

The Appendix 3G serves as a transparency tool under ASX Listing Rules, detailing securities not recorded on the public ASX share register. In this instance, the performance rights are unquoted and issued under an employee incentive plan, thus not publicly traded. Market participants can use this disclosure to track changes in Tetratherix’s equity structure and management incentives over time.

Performance Rights Allocated to Key Management Personnel Within Incentive Framework

The company confirmed that the 5,020 performance rights were granted to key management personnel or associates, as specified in Part 3B of the Appendix 3G. This disclosure is significant as grants to KMP are closely monitored by institutional investors and governance analysts to assess alignment between management and shareholder interests. Performance rights represent conditional remuneration, typically linked to achieving defined financial or operational targets.

Tetratherix refers investors to Section 8.4 of its Prospectus, lodged on 27 June 2025, for full details on the performance rights plan’s terms and conditions. This document outlines vesting criteria and conversion mechanisms. The announcement did not specify the vesting conditions, hurdles, or expiry dates for this particular tranche of 5,020 performance rights.

Total Outstanding TTXAG Performance Rights Now 413,218 Following Latest Grant

With this issuance, the total number of TTXAG performance rights outstanding has reached 413,218, as summarized in Part 4.2 of the Appendix 3G. ASX cautions that such automatically generated totals may not fully reflect current issued capital if other filings are pending.

Besides performance rights, Tetratherix’s unquoted securities register includes 23,570,766 TTXAF ordinary fully paid restricted shares subject to escrow or restrictions. Alongside 29,465,323 fully paid ordinary shares (TTX) quoted on the ASX, these figures provide a comprehensive view of the company’s fully diluted capital structure.

Listing Rule 7.2 Exception 13 Utilized; No Shareholder Approval Required

The 5,020 performance rights were issued under Exception 13 of ASX Listing Rule 7.2, which exempts securities issued under employee incentive schemes from the shareholder approval requirement under Listing Rule 7.1. This common carve-out allows issuers to grant incentives within a pre-approved scheme without convening shareholder meetings.

This exception assures investors that the issuance complied with ASX regulations and the established employee incentive framework disclosed in the June 2025 prospectus. It also preserves the company’s 15% placement capacity under Listing Rule 7.1 for future capital raising activities.

Quoted Ordinary Shares Total 29.47 Million After Latest Capital Structure Update

The Appendix 3G update confirms that 29,465,323 fully paid ordinary shares (TTX) remain quoted on the ASX. This figure represents the publicly tradeable equity base relevant for market capitalization, earnings per share calculations, and dilution analysis. The performance rights issuance does not affect this quoted share count as they do not confer voting or economic rights until vested and converted.

Investors should note that upon vesting and conversion of the 413,218 outstanding performance rights, the fully diluted share count will increase. The extent of dilution depends on how many rights meet vesting conditions. No guidance on vesting timelines or conversion scenarios was provided in this announcement; investors are encouraged to consult Section 8.4 of the 27 June 2025 Prospectus for details.

Distinction Between Performance Rights and Ordinary Shares in Capital Structure

Performance rights represent conditional equity compensation distinct from ordinary shares. Holders must satisfy specified performance or service criteria before rights vest and convert into shares. This mechanism aligns management incentives with company performance and shareholder value without immediate dilution.

At Tetratherix, performance rights are unquoted and cannot be traded on the ASX, differentiating them from ordinary shares. This approach aligns with standard employee incentive practices focused on retention and performance alignment rather than liquidity. The use of performance rights for KMP remuneration reflects prudent capital management, particularly for an early-stage listed company.

Performance Rights Plan Established Under June 2025 Prospectus

The performance rights plan was formally established and disclosed in Section 8.4 of Tetratherix’s Prospectus lodged on 27 June 2025. This document forms the legal and regulatory foundation for all subsequent issuances, including the current tranche. By referencing the prospectus in the Appendix 3G, the company directs investors to the primary source detailing plan mechanics, eligibility, and governance.

The prospectus framework ensures that vesting conditions, performance hurdles, and lapse provisions have undergone ASX review during the original listing process, providing regulatory oversight and investor protections. Investors seeking specific terms related to these performance rights should consult the prospectus.

Implications of TTXAG Performance Rights Issuance for Management Retention

The recent issuance to key management personnel during Q2 2026 indicates Tetratherix’s ongoing commitment to its management incentive and retention strategy amid its development phase. Performance-based remuneration is generally viewed favorably by governance-focused investors as it aligns executive rewards with shareholder outcomes. The focus on KMP highlights the company’s intent to retain senior leadership during a critical growth period.

The announcement does not provide commentary on broader strategic or operational developments. Investors seeking context for this grant should review other company communications such as quarterly reports or investor presentations. Future milestones to watch include disclosures on vesting or conversion of performance rights and any additional grants.

Share Price Impact and Considerations for Current TTX Shareholders

No immediate share price impact was evident from public information. The 5,020 performance rights represent a small proportion relative to the company’s total capital structure exceeding 29 million quoted shares and over 23 million restricted shares. Nonetheless, investors should monitor cumulative performance rights issuances for potential dilution risks.

For existing shareholders, the key focus is the long-term trajectory of the employee incentive scheme and the rigor of performance conditions. A well-designed plan signals management accountability, whereas overly generous schemes may raise governance concerns. Investors are advised to review the full plan terms in the June 2025 Prospectus and consider this issuance within the context of Tetratherix’s overall remuneration and strategic progress.