Listed Companies

A2 Milk chair reluctantly sells shares to cover tax bill

Rebecca Howard
Wed, 29 Apr 2020

A2 Milk chair reluctantly sells shares to cover tax bill
Rebecca Howard
Wed, 29 Apr 2020
A2 Milk chair David Hearn reluctantly sold $37.2 million of stock in the company to meet a British tax bill he'd have to pay for exercising the five-year-old options.  Hearn exercised 3.1 million options at 63 cents a piece, or $1.95 million, before they expired on June 30. Those 3.1 million shares would've been worth $61.07 million at the April 24 closing price - the day Hearn exercised the options - however as a UK tax resident, his liability came when they were exercised, rather than when they vested back in 2015.  A2 said Hearn's tax...

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