On 1 January 2023, Mainstay Ltd announces a grant of 1000 share options to each of its 15 senior executives. The grant is conditional on the employee continuing to work for Mainstay Ltd for the next 3 years. The fair value of each share option is estimated to be $40. On the basis of a weighted average probability, Mainstay Ltd estimates that 10% of its senior executives will leave during the vesting period.

Required 

Prepare a schedule setting out the annual and cumulative remuneration expense to be recognised by Mainstay Ltd for services rendered as consideration for the share options granted.