Filing Process for a Grant of Options

A grant of options requires one transaction and is recorded in the same manner as an acquisition of common shares with the following exceptions:

• use Nature Code 50 – Grant of options
• after entering the number or value of securities acquired (left side of screen) you are required directly below that field to enter the equivalent number or value of underlying securities acquired. If the options are exercisable on a 1:1 basis, the same number would be entered in the equivalent number or value of underlying securities acquired field.
• Unit price or exercise price: Not applicable (if insider did not pay anything at time of grant)
• Conversion or Exercise price: Indicate the exercise price of the options
• Date of expiry or maturity: Indicate the date the options expire
• the General remarks field can be utilized to indicate additional information relating to the grant of options (e.g. vesting terms).

Note: Until the options are exercised, the equivalent number of underlying securities is not added to the actual holdings of the insider in the underlying securities as it does not mean and should not be taken to indicate that the underlying securities have, in fact, been acquired by the insider.

Filing Process for an Exercise of Options

A typical exercise of options requires two transactions:

• one to record the disposition of the options, and
• one to record the acquisition of the underlying security (i.e. common shares, trust units, etc.)
• use Nature Code 51 – Exercise of options for both transactions
• When recording the disposition of options, after entering the number or value of securities disposed of (right side of screen), you are required directly below that field to enter the equivalent number or value of underlying securities disposed of. If the options are exercisable on a 1:1 basis, the same number would be entered in the equivalent number or value of underlying securities disposed of field.
• Unit price or exercise price: the exercise price used for the disposition of the options is the same price as the unit price reported for the acquisition of the underlying security (e.g. common shares). For example, this price is taken from the conversion or exercise price initially reported in the grant of options.
• Conversion or Exercise price: Not applicable
• The General remarks field can be utilized to indicate additional information relating to the exercise of options
• Options with different conversion or exercise prices should be reported separately.
• An exercise for cash would require the use of Nature Code 59 – Exercise for cash

Note: If the underlying security was subsequently sold, the insider must file a separate transaction using the appropriate nature code that describes how the sale was executed (e.g. code 10 if in the market or code 11 if carried out privately).

Filing Process for an Expiration of Options

An expiration of options requires one transaction:

·report the disposition of the options in a manner similar to an exercise of options

·use Nature Code 52 – Expiration of options