On 13/14 August he: 1. Exercised 1,000,000 options for $255,000...

On 13/14 August he:
1. Exercised 1,000,000 options for $255,000
2. Received 1,345,833 Senex Share Appreciation Rights and 479,725 Rights


On 14/17 September he sold:
a) $568,452.51 gross proceeds of sale of 1,220,641 shares at $0.4657
b) $1,114,695.19 gross proceeds of sale of 2,481,512 shares at $0.4492

His sells made him $1.7M

The acquisition only cost $0.25M
Assuming tax on options based on 50c market value. 50% x (0.50-.255)×1m=$0.125.
Assuming 1.8m SARs and Rights were valued at 50c and 50% tax = $0.45M

Most the acquisition of options and associated tax is $0.25+$0.125+$0.45=$800k

So seems like there an extra $900k taken off the table.

It does mention that these trades occured, being in an open trading period.
I think this probably explains why EIG and directors are all trading at the same time.

It is hard to read into this, but it is strange that he is pulling $900k out. I hope he doesnt have too many of his own personal investments that he thinks are of better value potential than SXY.

https://www.livewiremarkets.com/wir...erview-with-ian-davies-md-ceo-of-senex-energy

Found this which I thought was interesting (as I've only researched SXY from when I bought in, not prior and its beginnings).