stratatel jcurve and xero, page-4

I think shareholders need to be mindful of the huge incentive Graham Baillie has to push the price of STE up.

He holds 35.7m options which automatically vest (in 4 parcels of 8,928,571) if the share prices reaches 7.5c, 10.0c, 12.5c and 15c. These options equate to 12% of the company on a fully diluted basis and have a vesting price of basically $0.0($0.000001 to be exact)

Given the illiquidity of STE, Graham Baillie has the means to solidify his control with relative ease. Look at yesterdays trading for example, the share price rose 15.7% on roughly $70k of trading value. The price only needs to move 27% from here before GB gets another 3% of STE, or 150% to get the entire 12%.

This is certainly not a negative, but is something holders should be mindful of.