He was also facing an issue that the market value of his shares was less than his annual board fee.
Woodside has a minimum shareholding policy of 100% of share value based on purchase price compared to annual board fee.
He was paid $840k last year according to annual report. His 26k shares he held before this was worth about $700k. That doesn't look good.
So it looks like his hand partly being forced here by company policy.
Ann: Appendix 3Y, page-5
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Last
$24.07 |
Change
-0.180(0.74%) |
Mkt cap ! $45.70B | |||
| Open | High | Low | Value | Volume |
| $24.27 | $24.29 | $24.07 | $110.5M | 4.582M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 7 | 5905 | $24.07 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $24.10 | 10733 | 1 |
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| WDS (ASX) Chart |