Points to be achieved: $1\mathrm{.}00$An entity grants one hundred share options to each of its five directors on $1$ July $20$X$4.$ The share$-$based payment scheme was correctly identified as equity$-$settled. The options vest after $4$ years on $30$ June $20$X$8.$ The fair value of each option on $1$ July $20$X$4$ is $$5$ and it is anticipated that all of the share options will vest on $30$ June $20$X$8.$