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On January 2, 2019, Ax Corporation granted options to the company's five executives to purchase 2,000 shares each of the company's P25 par valueordinary shares.

On January 2, 2019, Ax Corporation granted options to the company's five executives to purchase 2,000 shares each of the company's P25 par valueordinary shares. The options may be exercised anytime from January 1 to December 31, 2022. Based on an option pricing model used by the company, the fair value of the option is P24.The option price is P50 per sharewhile the market price of the ordinary shares is P70 per share.

On June 30, 2020, an executive with option to purchase 2,000 shares resigned from Ax Corporation. Then on March 1, 2022, all of the four remaining executives exercised their options.

Q19Amount of compensation expense for 2019, 2020 and 2021, respectively.

Q20What amount of share premium-ordinary will arise from the

exercise of the share options of theremaining executives of the company on March 1, 2022?

Q21What if in the above,the executive with option to purchase 2,000 shares resigned from Ax Corporation on February 20, 2022 (after the vesting period), what amount of compensation expense arerecognized in 2019, 2020 and 2021, respectively.

Q22In relation to Q21, what amount of adjustment to

compensation expense is recognized in 2022?

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