b.

2024
Jan. 1 Granted 100 share options to each of its 200 employees to buy P100 par
ordinary share at P220 per share. The options are exercisable starting
January 1, 2020 provided that the employees are still in the service.
Options expire on December 31, 2021.

Dec. 31 Compensation expense ###

Share options outstanding ###

2025
Dec. 31 Compensation expense ###
Share options outstanding ###

2026
Dec. 31 Compensation expense ###
Share options outstanding ###

2027 Cash (140 x 100 x 220) ###

Share options outstanding (14,0 ###
Ordinary share capital (14,000 x ###
Share premium - ordinary ###

2028 Cash (10 x 100 x 220) ###

Share options outstanding (1,000 ###
Ordinary share capital (1,000 x ###
Share premium - ordinary ###

Share options outstanding (20 x ###

PIC from forfeited share options ###