A2 Milk chair reluctantly sells shares to cover tax bill

A2 Milk chair reluctantly sells shares to cover tax bill
Rebecca Howard
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...

More Markets

Vector agrees to sell LPG assets for $150m
Markets

Vector agrees to sell LPG assets for $150m

The deal is subject to regulatory approvals and commercial conditions.

Rebecca Howard 26 Jul 2024
ASX: Australian shares slide to a two-week low as tech drags
Markets

ASX: Australian shares slide to a two-week low as tech drags

Every sector of the Australian share market has lost ground.

AAP 26 Jul 2024
NZ sharemarket down 0.38%
Markets Market close

NZ sharemarket down 0.38%

The S&P/NZX 50 Index closed at the day’s low of 12,349.47, down 46.79 points or 0.38%.

Graham Skellern 26 Jul 2024
The Warehouse’s plight in five charts
Retail Charts

The Warehouse’s plight in five charts

The private equity bid shows the company’s future is still anyone’s guess.

Gregor Thompson 26 Jul 2024