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clock Created with Sketch. 30/09/23
12:52
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Originally posted by Darkstone:
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If you look at the calculation I posted above he had to sell almost 5m shares just to cover the purchase costs and tax alone. He sold 6.6m shares so he converted 1.5m into a small amount of cash ($160k) for living expenses over the next few months, and increased his total shareholding by an extra 769,947 shares.
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Why convert the options at all ? He was under no pressure to do so.
(20min delay)