Hate to sound like a broken record: the market in the US is absolutely out of control and beginning to resemble the circumstances leading to the dot.com fiasco in 2000/1. Most know that it cannot continue. The rest of the world is out of kilter with the US, but they will grow if the US contracts. ZIP bailing from the US after the Klarna listing it would probably be ZIPs Kerry Packer Alan Bond moment and CS is smart enough to advise the board accordingly. It would have the cash to quietly go about building itself across AUS, NZ and anywhere else it chose without any dramas. CS would highly likely have her bonuses and options paid out.
The alternative is that much of the senior staff of ZIP may have to move to the US, they don't have any capital to push any further into the US without raising or borrowing (which they have discounted and they bust their chops to get as big as they can, then get the rug pulled when the big bang comes along. CS has to complete years of service before she gets any bonuses and options which are heavily dependent on market forces, which are no certainty. I know what I would do and I reckon they have been dressing themselves up for it for some time. Good part of it is that there can be at least another 6 months of euphoria to keep the SP up before they get an offer too good to refuse.
CS took $1.7 mil out of ZIP last year, of which only $650k was made available to her, the rest in short term, fixed long term and variable long term bonuses. At the beginning of the year she had direct ownership of 15,419 shares, then 268,004 were converted from bonuses (of some years ago). In total, at present she has 4.19 mil shares, almost all of which are subject to performance and vesting between March of 2025 and September of 2029. If ZIP shares were sold she would most likely be able to cash them out (at the current board's discretion, and they appear to have done that with other board members leaving) and she would receive about $14 mil plus all kinds of termination salary componentry.
I reckon either ZIP or its US portion could be sold within a year.
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