Hannigan Todd 4

What Happened

• Todd Hannigan, Executive Chairman and Director of IPERIONX Ltd (IPX), received three derivative awards on 2026-04-02 totaling 1,188,256 units (196,086; 465,410; and 526,760). The filing reports these as grants/awards (code A). No cash prices or immediate cash value are listed (N/A) because these are performance rights/options rather than open-market purchases or sales.

Key Details

• Transaction date: 2026-04-02 (filing accession 0001864148-26-000005).
• Grants: 196,086; 465,410; 526,760 — total 1,188,256 derivative awards.
• Reported price/value: N/A in the filing (derivative instruments, not a stock trade).
• Vesting/performance notes: Footnotes indicate time- and performance-based conditions:
  • F2: 159,334 vest December 2026; 295,130 vest April 2028.
  • F6: Performance rights convert 1-for-1 into ordinary shares after (1) four years continuous service through 04/02/2030 and (2) ASX 30-day VWAP reaching A$18.00.
  • F7: Some awards are options that give the right to purchase one ordinary share at a set conversion/exercise price.
• Markets/currency: Ordinary shares trade on the Australian Securities Exchange (ASX); ADS trade on Nasdaq (one ADS = ten ordinary shares); amounts/currency referenced in Australian dollars (A$).
• Shares owned after transaction: Not specified in the provided excerpt of the filing.
• Timeliness: Filing date and report period are both 2026-04-02; the filing appears to report the grants on the transaction date (no late-file flag shown).

Context

• These are grant awards (derivative instruments) rather than open-market purchases or sales, so they do not represent an immediate cash outlay or stock sale. Performance rights only convert to ordinary shares if service and price targets are met; options require exercise to acquire shares. Such awards are commonly used for long-term retention and compensation and should be viewed as contingent rather than immediately dilutive until vested/exercised.