Originally Posted by
Left field
A lot of pretty shameful sexist ranting by posters re the CEO's share sale yesterday.......Why don't we accept what the company says??? i.e.;
1) On market sale of 178,616 Ordinary Shares using broker facilities; (2) On market sale of 178,616 Ordinary Shares using broker facilities.
The above mentioned Ordinary Shares were received by Ms Hrdlicka on the automatic exercise of time-based rights in the Company (such time-based rights having been granted to Ms Hrdlicka as a one-off transition benefit compensating her for the forfeiture of incentive entitlements from her former employer as a result of her resignation to take up employment with the Company).
The sale of the above mentioned Ordinary Shares has been made by Ms Hrdlicka in order to: (i) fund the tax obligations relating to the recent automatic exercise of time- based rights; and (ii) fund commitments made by Ms Hrdlicka prior to her taking up employment with the Company.
Ms Hrdlicka retains a relevant interest in Time-Based Rights and Performance Rights (as noted below).
Maybe this is the price we have to pay to get a good CEO, and just maybe, the fact that she now only has 'time-based' performance based shares to her name gives her greater incentive to perform in the future.
Time will tell.