At the beginning of 2023, Strident Ltd grants 5 000 share options to a senior marketing executive, conditional on that executive remaining in the company’s employ until the end of 2025. The share options cannot be exercised unless the share price has increased from \($15\) at the beginning of 2023 to above \($25\) at the end of 2025. If the share price is above \($25\) at the end of 2023, the share options can be exercised at any time during the following 5 years.

Strident Ltd applies a binomial option-pricing model that takes into account the possibility that the share price will exceed \($25\) at the end of 2025 and the possibility that the share price will not exceed \($25\) at the end of 2025. The fair value of the share options with this market condition is estimated to be \($11\) per option.

Required 

Calculate the annual and cumulative remuneration expense to be recognised by Strident Ltd for 2023.