Recognition of Share-Based Compensation Expense

During the fiscal year 2022, Alpha Corporation granted 1,000 stock options to its executives as a part of their annual employee compensation package. Each option allows the executive to purchase a share of the company at an exercise price of $50 per share, with a fair value of $15 per option at the grant date. The options have a vesting period of three years and an expected life of five years. By the end of fiscal year 2023, half of the options had vested and were still outstanding. The company incurred the entire expense related to these options during the vesting periods.

As Alpha Corporation prepares its financial reporting for fiscal year 2023, it needs to determine the appropriate compensation expense recognition related to the stock options. The company follows IFRS accounting standards for its financial statements.

What amount should Alpha Corporation recognize as compensation expense for fiscal year 2023?