Incannex Healthcare Inc. Stock Compensation Disclosure
Note 12 - Stock-based payments
| June 30, 2025 | June 30, 2024 | |||||||
| (in thousands) | ||||||||
| Research and development | ||||||||
| General and administrative | (2,609 | ) | (8,928 | ) | ||||
| Total stock-based compensation expense | (2,609 | ) | (8,928 | ) | ||||
Restricted stocks
A summary of the changes in the Company’s restricted stock activity for the fiscal year ended June 30, 2025, are as follows:
| Numbers of Shares | Weighted Average Grant Date Fair Value $ | |||||||
| Unvested and Outstanding as of June 30, 2024 | 651,939 | 3.91 | ||||||
| Granted | 40,739,093 | 0.23 | ||||||
| Vested | (623,984 | ) | 3.97 | |||||
| Forfeited | ||||||||
| Unvested and Outstanding as of June 30, 2025 | 40,767,047 | 0.23 | ||||||
Stock Options
A summary of the changes in the Company’s stock options activity for the fiscal year ended June 30, 2025, are as follows:
| Numbers of Shares | Weighted Average Exercise Price ($) | Weighted Average Remaining Contractual Term (Years) | Aggregate Intrinsic Value (in thousands) ($) | |||||||||||||
| Unvested and Outstanding as of June 30, 2024 | 235,008 | 26.76 | 1.93 | |||||||||||||
| Granted | - | |||||||||||||||
| Vested | - | |||||||||||||||
| Forfeited | (7,500 | ) | 3.28 | - | ||||||||||||
| Outstanding as of June 30, 2025 | 227,508 | 27.22 | 1.46 | |||||||||||||
| Unvested as of June 30, 2025 | ||||||||||||||||
The aggregate intrinsic value of stock options is calculated as the difference between the exercise price of the stock options and the fair value of the Company’s shares of common stock for those stock options that had exercise prices lower than the fair value of the Company’s shares of common stock.
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Sep 29, 2025 | Showing above |
| 2024 | Sep 30, 2024 | |
About Stock Compensation Disclosures
Stock-based compensation disclosures detail the equity awards granted to employees and executives — including stock options, restricted stock units (RSUs), and performance shares — along with the valuation methods and assumptions used to expense them. This section reveals the true cost of talent retention and the alignment between management incentives and shareholder interests.
Key signals: total unrecognized compensation expense and its expected recognition period signal future earnings headwinds from already-granted awards. For stock options, examine Black-Scholes assumptions — expected volatility, risk-free rate, and expected term — as understating any of these reduces reported compensation expense. Compare stock compensation expense as a percentage of revenue against peers to assess dilution cost. Watch vesting schedules for acceleration clauses tied to change-of-control events. Performance-based awards with undemanding targets may indicate weak governance. Add back stock compensation to operating cash flow to calculate a more conservative free cash flow figure.