Between 23-27 October the Directors, Peter and Jethro, as well as our CEO, Oleg, disposed of a significant number of shares.
Oleg: 4,369,880 (29.08%)
Peter: 2,184,941 (24.78%)
Jethro: 436,988 (24.98%)
The rational noted that "All proceeds is towards meeting ATO tax obligations associated with issue of DroneShield securities.
This is likely referring to the ZEPOs issued for 10,5 and 1m respectively. You can see Jethro's sale amount is 10% of Olegs while Peter's sale is 50% of Olegs. This lines up and the sales are just shy of the 45% tax they will all need to pay.
A bit odd they're selling so soon afterwards as thought the tax isn't payable for a while (given they received the payments in FY24). Assume they're going to cash out and have the funds sitting in safer Term deposits.
Director sale of Shares
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