Ann: Extension of Managing Directors appointment and share sale, page-5

Hi @rookie101 with respect, you're just repeating what the media release said. The 108.6m are performance rights, not ordinary or fully paid ordinary shares. They don't vest until 2020 (and that assumes the CEO meets performance milestones), so they are not shares.

He sold all of his 850,000 ordinary shares, plus the entire amount of performance rights that were vested as shares on 23/8. i.e. as soon as he got his latest run of performance shares, he sold the lot, plus he sold everything else he had. On a separate matter, these rights weren't due to vest until next month, so I'm not sure what's going on there.

So, he's not a shareholder in the company anymore.

He's paid $1.66m a year in cash.

I'm sure there's a reason for selling, and I hope he's ok, but at least leave some on the table.

It's never a good look when management sells, but they can and they will. In this case, he dumps everything. There's only one director now who holds.